Qatar economy grows 6.2 per cent in first quarter

04 July 2013

Economic growth is slowing as emphasis shifting away from oil and gas

Economic growth in Qatar slowed to 6.2 per cent in the first quarter of 2013, compared to the same period in 2012. In the first quarter of 2012 growth was 6.6 per cent.

The slowdown in headline growth was a result of weaker hydrocarbon production, but other sectors of the economy have continued rapid pace of expansion. Financial services grew by 10.5 per cent, manufacturing by 12.5 per cent, and construction by 11.7 per cent.

The IMF is forecasting that economic growth in Qatar will fall to 5.2 per cent in 2013, from 6.6 per cent.

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