Economic expansion in Qatar reached 3.7% during the initial quarter of the year 2025
In a significant development, Qatar's non-hydrocarbon economy has experienced a growth of 5.3% in the first quarter of 2025, according to data released by the National Statistics Centre. This growth is a testament to the nation's ongoing efforts in diversifying its economic portfolio.
The growth in Qatar's GDP was reported at 3.7% compared to the same period in 2024, with the National Planning Council providing the information. The hydrocarbon activities, while still a significant contributor to the country's economy, accounted for 36.4% of Qatar's real GDP, a slight decrease from previous years. Meanwhile, the non-hydrocarbon economy contributed approximately 115 billion Qatari riyals in Q1 2025, marking an increase from 62.6% to 63.6% of Qatar’s real GDP during this period.
The key sectors driving this growth are the manufacturing, construction, real estate, and wholesale and retail trade sectors. The manufacturing sector saw a growth of 5.6%, construction grew by 4.4%, real estate expanded by 7.0%, and the wholesale and retail trade sector surged significantly by 14.6%. These sectors collectively contributed to the overall non-hydrocarbon economy growth.
The growth in Qatar's non-hydrocarbon economy indicates a strengthening of efforts in this sector, aligning with the targets of the Third National Development Strategy aiming for around 4% annual growth in non-hydrocarbon GDP by 2030.
On the other hand, the hydrocarbon activities in Qatar continued to grow, contributing approximately 66 billion Qatari riyals to the country's real GDP, but at a slower pace with a growth rate of 1.0% compared to the same period in 2024.
GDP at constant prices in Qatar reached 181.5 billion Qatari riyals in Q1 2025, up from 175 billion riyals in Q1 2024. These figures underscore Qatar's commitment to economic diversification and private sector expansion.
[1] National Development Strategy - Qatar (2018-2022) [2] Third National Development Strategy - Qatar (2021-2026)
- The growth in Qatar's non-hydrocarbon economy, fueled by key sectors like manufacturing, construction, real estate, and wholesale and retail trade, is aligning with the targets of the Third National Development Strategy - Qatar (2021-2026), aiming for around 4% annual growth in non-hydrocarbon GDP by 2030.
- In the realm of finance, the growth in Qatar's GDP at constant prices reached 181.5 billion Qatari riyals in Q1 2025, marking an increase from Q1 2024, underscoring Qatar's commitment to economic diversification and private sector expansion.
- Meanwhile, the sports, entertainment, and health industries might find interest in the significant increase seen in the real estate sector, as it expanded by 7.0% in Q1 2025, contributing to the overall growth of the non-hydrocarbon economy.
- Businesses dealing in finance and real estate might also take note of the business environment in Qatar, as the nation's ongoing efforts in diversifying its economic portfolio have resulted in a real GDP growth of 5.3% in the first quarter of 2025, with the non-hydrocarbon economy contributing approximately 115 billion Qatari riyals during this period.
