Qatar Achieves 30.7% GDP Growth

WGOQatar

Doha: Qatar’s economic growth continues to impress as recent data from the Planning and Statistics Authority (PSA) reveals that the country’s Gross Domestic Product (GDP) at current prices reached an estimated QR228.423 billion in the third quarter of 2022.

This figure represents a remarkable increase of 30.7 percent compared to the same quarter of the previous year, which amounted to QR174.814 billion. Furthermore, it indicates a substantial 5.5 percent growth compared to the previous quarter, where the GDP stood at QR216.468 billion.

The PSA’s quarterly publication, titled ‘Window on Economic Statistics of Qatar’ and now in its 42nd issue, highlights the impressive growth of Qatar’s economy. The report indicates that the quarterly GDP, adjusted for constant prices using the 2018 baseline, grew by 4.3 percent in Q3 of 2022, reaching QR175.028 billion, in comparison to the estimated QR167.782 billion in the same period of 2021.

Additionally, the PSA report reveals a significant surge of 3.6 percent in GDP when compared to the second quarter of 2022, with the figure estimated at QR168.879 billion.

It is worth noting that the positive trend extends beyond overall GDP growth. The mining and quarrying activities sector in Qatar has also shown improvement when compared to previous quarters. This sector, which plays a crucial role in the country’s economy, has experienced positive growth, further contributing to Qatar’s impressive economic performance.

These statistics underscore Qatar’s strong economic resilience and highlight the effectiveness of its strategic plans and policies. As the nation continues to diversify its economy and invest in sectors such as tourism, technology, and innovation, it solidifies its position as a leading global player and reinforces its commitment to sustainable development.

The remarkable growth in Qatar’s GDP serves as a testament to the country’s ability to adapt and thrive in an ever-changing economic landscape, setting a positive trajectory for its future growth and prosperity.

WGOQatar

الدوحة:  تحقق قطر من زيادة قوية في ناتجها المحلي الإجمالي إلى 228 مليار ريال قطري في الربع الثالث من عام 2022، وفقًا للبيانات الحديثة من الهيئة العامة للتخطيط والإحصاء (PSA).