Qatar’s non-hydrocarbon economy grows 2.6% in Q2

Qatar's non-hydrocarbon GDP experienced a 2.6 percent year-on-year growth in the second quarter of 2026, showcasing the nation's resilient diversified economy despite regional disruptions. This growth, according to the National Planning Council (NPC), highlights the expanding significance of non-hydrocarbon sectors in maintaining economic activity amid regional and global challenges.

The non-hydrocarbon economy's performance was especially notable in contrast to a sharp 50.7 percent decline in the hydrocarbon sector due to shipping and export impacts from regional constraints.

Several key sectors within the non-hydrocarbon economy contributed to this growth. Real estate activities led with an 11 percent year-on-year increase, adding QR1.438 billion (1.2 percentage points) to real non-hydrocarbon GDP growth. Financial and insurance activities also expanded by 8.3 percent, contributing QR1.356 billion (1.1 percentage points).

The construction sector showed positive momentum with a 5.5 percent rise, adding QR1.178 billion (1 percentage point) to the non-hydrocarbon GDP. Wholesale and retail trade growth of 6.9 percent added QR1.010 billion (0.8 percentage points) to the economy's overall performance.

The National Planning Council attributes this growth to the strong economic foundations established through strategic planning and investments aimed at diversifying Qatar's economy. Secretary-General of the NPC, Dr Abdulaziz bin Nasser bin Mubarak Al Khalifa, emphasized that these results validate the strategic foundations built through sustained investment. He noted that non-hydrocarbon sectors continued to expand despite unprecedented regional challenges affecting the energy sector and global trade flows.

Al Khalifa stated that Qatar will continue to build on these economic foundations to promote diversification, enhance productivity, strengthen competitiveness, and drive long-term sustainable growth. The growth in non-hydrocarbon sectors also demonstrates progress towards the goals of Qatar National Vision 2030, indicating a broader base for economic activity.

The report emphasizes Qatar's ongoing efforts to monitor markets, secure supply chains, and ensure the availability of essential goods and services to maintain economic stability amid heightened regional uncertainty.