Qatar's economy grows by 2.6% in Q3 2021, lifted by non-hydrocarbon sector

Qatar's economy grows by 2.6% in Q3 2021, lifted by non-hydrocarbon sector

Qatar's economy grew 2.6% year-on-year in the third quarter of 2021, according to official estimates, driven mainly by the non-hydrocarbon sector.

On a quarterly basis, gross domestic product (GDP), based on constant prices grew by 4%, Qatar's statistical authority said Wednesday.

Mining and quarrying GDP decreased by 0.7% year-on-year in the third quarter, while non-mining and quarrying activities grew by 4.7% in the third quarter.

Accommodation and food service activities saw the biggest annual jump, growing 29.8%, reflecting the continued recovery of a sector hit badly by coronavirus-related restrictions in 2020.

Transportation and storage activities followed close behind, with a 29.7% growth, while manufacturing grew 6.1%.

Qatar, a major producer of liquified natural gas, posted a surplus of $247 million in the third quarter, the finance ministry said in November, which was lifted by higher energy prices.

Source: Reuters