His Excellency Dr Abdulaziz bin Nasser bin Mubarak Al Khalifa, Secretary General of the National Planning Council: Growth reflects the effectiveness of Qatar's strategy for sustainable economic diversification
Gross Domestic Product (GDP) estimates by economic activity suggest a real growth of 3.4% in non-hydrocarbon activity in 2024. Its contribution to GDP is projected to rise to 456 billion Qatari riyals in 2024, compared to 441 billion in the previous year.
His Excellency Dr. Abdulaziz bin Nasser bin Mubarak Al Khalifa, Secretary General of the National Planning Council, said: "This growth reflects the effectiveness of Qatar's strategy to achieve sustainable economic diversification, in alignment with Qatar National Vision 2030.
“Qatar is strengthening its position regionally and globally with efforts to diversify and develop competitive sectors. Non-hydrocarbon activities remain a driving force in sustainable growth, in line with Qatar National Vision 2030 and the Third National Development Strategy".
Non-hydrocarbon activities accounted for approximately 64% of Qatar's GDP in 2024 at constant prices. Several key sectors, such as accommodation and food services, arts and entertainment, real estate, and trade have experienced significant increases.
According to constant price GDP estimates for 2024, several non-hydrocarbon sectors showed notable growth compared to 2023. Accommodation and food services grew by 8.7%; arts, entertainment, and recreation by 7.5%; real estate activities by 6%, wholesale and retail trade by 5.2%; and construction grew by 3.6%.
The Qatari economy achieved real growth year-on-year of 2.4% in 2024, with the estimated GDP reaching 713 billion Qatari riyals at constant prices in 2024, up from 697 billion Qatari riyals in the previous year.
The GDP figures for 2024 indicate an economy that continues to progress towards diversification, with the private sector playing an increasingly significant role in the development of the nation as outlined in Qatar National Vision 2030 and Qatar's Third National Development Strategy (2024-2030).
