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Qatar's non-hydrocarbon economy expands 2.6% in Q2 2026
The State of Qatar's non-hydrocarbon Gross Domestic Product (GDP) grew by 2.6% year-on-year in the second quarter of 2026.
The National Planning Council (NPC) said in a statement issued on Wednesday that non-hydrocarbon GDP continued to grow despite regional escalation challenges to trade routes and global supply chains, reflecting the resilience of non-hydrocarbon sectors and their growing role in bolstering the national economy's steadfastness.
HE Secretary-General of the NPC Dr. Abdulaziz bin Nasser bin Mubarak Al Khalifa said the second quarter of 2026 underscores the importance of the foundations Qatar has built through years of planning and investment in economic diversification and resilience. Despite exceptional regional challenges and their direct impact on the energy sector and trade flows, non-hydrocarbon sectors continued to grow, reflecting the robustness of the economic base and the national economy's ability to adapt to crises and maintain the continuity of economic activity, he added.
The NPC continues to build upon these foundations to foster diversification and enhance productivity and competitiveness, thereby supporting more sustainable long-term growth, he said.
The statement noted that, despite the positive performance of non-hydrocarbon sectors, restrictions and challenges imposed by regional conditions on shipping and exports contributed to a 50.7% decline in Qatar's hydrocarbon GDP.
The non-hydrocarbon sector maintained its positive momentum in the second quarter of 2026, recording year-on-year growth of 2.6%, driven by several key sectors, led by real estate activities, which expanded by 11% year-on-year and contributed QR 1.438 billion, or 1.2 percentage points, to real non-hydrocarbon GDP growth. The financial and insurance sector followed, growing by 8.3% and adding QR 1.356 billion, or 1.1 percentage points. The construction sector recorded growth of 5.5%, contributing QR 1.178 billion, while the wholesale and retail trade sector grew 6.9%, adding QR 1.010 billion, equivalent to 0.8 percentage points, to real non-hydrocarbon GDP growth.
The statement emphasized that the strong contribution of non-hydrocarbon sectors underscores the resilience of the economic pillars, built over the years, and progress toward the diversification goals outlined in Qatar National Vision 2030. During this period, Qatar continued to closely monitor markets, safeguard supply chains, and ensure the availability of essential goods and services, helping maintain economic stability.
Source: Gulf Times