The gross domestic product of Qatar expanded by 2.2 percent year-on-year in the third quarter of 2018, following a downwardly revised 1.7 percent advance in the previous quarter. It was the highest pace of expansion since the last quarter of 2017. Positive contributions to growth came from construction (12.1 percent); financial & insurance activities (6.8 percent); wholesale & retail trade; repair of motor vehicles & motorcycles (1.4 percent); public administration; compulsory social security (3 percent) and real estate activities (3.2 percent). On the other hand, negative growth was recorded from mining & quarrying (-0.1 percent); manufacturing (-2 percent) and professional, scientific & technical activities; administrative & support activities (-0.4 percent). On a quarterly basis, the economy advanced 4 percent, after a downwardly revised 1.2 percent in Q2. GDP Annual Growth Rate in Qatar averaged 6.49 percent from 2009 until 2018, 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.
GDP Annual Growth Rate in Qatar is expected to be 2.70 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 2.50 in 12 months time. In the long-term, the Qatar GDP Annual Growth Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.