The economy of Qatar shrank by 6.1 percent from a year earlier in the second quarter of 2020, following a 0.9 percent growth in the previous period. It was the sharpest economic contraction since the first quarter of 2019, amid reduced activity due to Covid-19 containment measures coupled with low energy prices and plunging visitor arrivals. The hardest-hit sectors were transportation & storage (-39.5 percent); accommodation & food services (-38.7 percent); wholesale and retail trade and vehicle repair (-30.4 percent); arts, entertainment & recreation (-11.8 percent) and manufacturing (-11.3 percent). On a quarterly basis, the GDP contracted by 6.4 percent, the most in over a year, after a 1.4 percent decline in the prior period.
GDP Annual Growth Rate in Qatar averaged 5.36 percent from 2009 until 2020, reaching an all time high of 32.90 percent in the first quarter of 2010 and a record low of -15.30 percent in the second quarter of 2009. This page provides the latest reported value for - Qatar GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Qatar GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
GDP Annual Growth Rate in Qatar is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Qatar to stand at 5.50 in 12 months time. In the long-term, the Qatar GDP Annual Growth Rate is projected to trend around 4.00 percent in 2021 and 2.50 percent in 2022, according to our econometric models.