Qatar’s non-oil GDP to hit $80 billion in 2016

November 29, 2015 11:55 am

Economists estimate Qatar’s non-oil GDP in 2016 at roughly $80 billion, compared with $66bn in 2014, reports Qatar-based Al Sharq.

Based on forecasts and figures issued by the International Monetary Fund, recent economic statistics about the Middle East expect Qatar’s non-oil real GDP to grow by 9.5 per cent over the next year, an indicator that non-oil sectors in the state are becoming increasingly important drivers of economic growth.

In 2009, the contribution of the non-oil sector in Qatar’s GDP reached approximately 34 per cent – equivalent to $33bn – but, in 2014, its contribution almost doubled, reaching nearly $66bn.

The development of non-oil sectors and the private sector is an important component in Qatar’s economic development strategy, after the Qatari economy began a new phase of economic diversification.

Experts believe that the partnership between the public and private sectors will enhance the contribution of the non-oil sector in the composition of the GDP.

(US$1 = AED3.67, at the time of publishing)


AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.