Qatar’s economy grows as non-oil activity picks up

Qatar’s economy continued to expand in 2025, supported by significant growth in non-hydrocarbon activities, the National Planning Council (NPC) said in a statement.

Real GDP increased by 2.9 percent year on year in the third quarter of 2025 to QAR186 billion ($51 billion).

Non-hydrocarbon activities accounted for 66 percent of real GDP, with value added reaching QAR122 billion in the third quarter, up 4.4 percent year on year.

Construction, wholesale and retail trade, and accommodation and food services were among the fastest-growing non-hydrocarbon sectors.

“The growth was supported by rising domestic demand, increased visitor activity, and the continued rollout of infrastructure and public-sector projects, with positive spillover effects across services and trade,” NPC said.

Overall, 15 of 17 economic activities recorded positive real growth in the third quarter of 2025.

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Qatar is revising its national accounts to align with international standards, with the revision expected to be completed by the first quarter of 2026, NPC said.

In September the International Monetary Fund welcomed Qatar’s progress on economic reforms and predicted resilience and opportunities for the Gulf state, provided it continues to implement “sound” economic and fiscal policies.

The country’s budget deficit hit QR1.4 billion in the third quarter of 2025, up 75 percent from the previous quarter. It has forecast a budget deficit of QR21.8 billion for 2026, which will be covered through local and external debt.