Qatar’s Non-Hydrocarbon Economy Grows 2.6% in Q2

Qatar’s non-hydrocarbon gross domestic product (GDP) grew by 2.6 percent year-on-year in the second quarter of 2026, demonstrating the resilience of the country’s diversified economic base despite disruptions to trade routes, shipping activity and global supply chains resulting from the regional escalation.

According to a report published by the National Planning Council (NPC), the continued expansion of non-hydrocarbon activities highlights their growing role in supporting Qatar’s economy and maintaining economic activity amid challenging regional and global conditions.

The performance of the non-hydrocarbon economy was particularly significant against a sharp contraction in the hydrocarbon sector. 

The report showed that hydrocarbon GDP declined by 50.7 percent year-on-year in Q2 2026, as regional constraints affected shipping activity and exports.

Despite these challenges, growth in the non-hydrocarbon economy remained broad-based, with several key sectors recording strong annual expansion.

Real estate activities led the performance, growing by 11 percent year-on-year and contributing QR1.438 billion, equivalent to 1.2 percentage points, to growth in real non-hydrocarbon GDP.

Financial and insurance activities expanded by 8.3 percent, contributing QR1.356 billion, or 1.1 percentage points, to real non-hydrocarbon GDP growth. The construction sector also maintained positive momentum, recording growth of 5.5 percent and contributing QR1.178 billion, equivalent to 1 percentage point, to non-hydrocarbon GDP growth.

Meanwhile, wholesale and retail trade grew by 6.9 percent year-on-year, contributing QR1.010 billion, or 0.8 percentage point, to the growth of the real non-hydrocarbon economy.

The National Planning Council said the performance reflected the strength of the economic foundations established through years of strategic planning and sustained investment aimed at diversifying Qatar’s economy and enhancing its ability to withstand external shocks.

Commenting on the second-quarter results, Secretary-General of the National Planning Council Dr Abdulaziz bin Nasser bin Mubarak Al Khalifa said the figures reaffirmed the strength of the foundations Qatar had built through strategic planning and sustained investment.

He said that despite unprecedented regional challenges and their direct impact on the energy sector and global trade flows, non-hydrocarbon sectors continued to expand, demonstrating the robustness of the country’s economic base and its capacity to adapt to crises while maintaining the continuity of economic activity.

Al Khalifa said Qatar would continue building on these foundations to foster economic diversification, boost productivity, strengthen competitiveness and drive more sustainable, long-term growth.

The latest performance also underscores the progress made towards the economic diversification objectives of Qatar National Vision 2030, with non-hydrocarbon sectors increasingly providing a broader base for economic activity.

The continued expansion of real estate, financial services, construction and trade indicates that domestic economic activity remained resilient even as disruptions to international shipping and energy exports placed considerable pressure on the hydrocarbon sector.

The report also highlighted Qatar’s continued efforts to monitor markets, safeguard the integrity of supply chains and ensure the availability of essential goods and services. These measures helped support overall economic stability and preserve continuity of economic activity during a period of heightened regional uncertainty.