Qatar's economy drops 7pct in Q1 2026

Qatar's gross domestic product (GDP) declined by 7% year-on-year in the first quarter of 2026, as hydrocarbon activity fell by 25.8% due to shipping and regional export restrictions. Conversely, the non-hydrocarbon sector experienced growth of 3.5%, supported by industries such as construction, wholesale and retail trade, and real estate. This reflects the resilience of the Qatari economy despite regional challenges and rising transportation and insurance costs. Officials confirmed that this performance underscores the strength of the economic fundamentals and the role of fiscal policies and strategic investments in safeguarding the economy and ensuring sustainability. Qatar continues to meet market needs and support consumers and vital sectors.