The Qatari Planning and Statistics Authority revealed that the Qatari economy grew by 4 percent on an annual basis in the second quarter, supported by the non-oil sector. While the GDP on a constant price basis fell by 0.3 percent on a quarterly basis.
The GDP of the mining and quarrying sector increased by 0.7 percent on an annual basis in the second quarter, while the non-mining activities recorded a growth of 6.2 percent.
Accommodation and food service activities witnessed the largest annual jump, growing by 41 percent, reflecting a stagnation last year due to restrictions related to the Coronavirus. Transportation and warehousing activities also grew by 26.9 percent, while the manufacturing sector grew by 13.4 percent.
The Qatari Ministry of Finance revealed that it recorded a surplus of about one billion dollars in the second quarter, as a result of the rise in the price of oil. In January, Qatar resolved a three-year dispute with Saudi Arabia and three other Arab countries that had imposed diplomatic and trade embargoes on it and cut travel links with it.
Source (Asharq Al-Awsat Newspaper, Edited)
