Qatar's non- hydrocarbon sector drives economic growth


(MENAFN) The non-hydrocarbon sector in Qatar continues to drive economic growth, supporting the diversification of the economy as GRP growth hit 5.7 percent in the second-quarter period, QNA reported.

The 11.3 percent rapid growth in the non-hydrocarbon sector was spurred by large investments in major infrastructure projects and by the fast growing population.

On the other hand, the hydrocarbon sector declined by 2.2 percent over a year earlier as a result of lower crude oil production and temporary gas production shutdowns.

The latest growth figures confirm Qatar's ongoing rapid process of economic diversification away from its traditional role as a hydrocarbon exporter towards a manufacturing and services hub.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.