Qatar Stagnates Year-On-Year
London, 2 September 2024
The economy of Qatar stagnated year-on-year in the fourth quarter of 2023, following an upwardly revised 1.5% expansion in the preceding three-months period, marking the lowest growth since Q1 2021.
The decline was driven by contractions in key sectors, including mining and quarrying (-3.1%), information and communication (-6.2%), and financial and insurance activities (-1.3%).
These downturns offset gains in other areas such as manufacturing (+0.7%), wholesale and retail trade; repair of motor vehicles and motorcycles (+5.3%), and public administration and compulsory social security (+5.6%). On a quarterly basis, the economy shrank by 0.6%, following a 4.3% growth in the prior quarter.
Stats
In the fourth quarter of 2023, Qatar's Gross Domestic Product (GDP) decreased by 0% as compared to the same period the year before. From 2009 to 2023, Qatar's GDP Annual Growth Rate averaged 4.21 percent; it peaked in the first quarter of 2010 at 32.90 percent and fell to a record low of -17.20 percent in the same period the following year.
The most recent reported figure for Qatar GDP Annual Growth Rate is available on this page, along with earlier releases, historical highs and lows, forecasts for the near and long terms, an economic calendar, survey consensus, and news.
The most recent update to the Qatar GDP Annual Growth Rate statistics, historical chart, projections, and publication timetable was made in September 2024.
Forecast
In the fourth quarter of 2023, Qatar's Gross Domestic Product (GDP) decreased by 0% as compared to the same period the year before. Trading Economics global macro models and analysts predict that by the conclusion of this quarter, Qatar's GDP Annual Growth Rate will be 4.50 percent. (Source: Trading Economics)
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