People sit with the reflection of the Doha skyline along the Doha Corniche in Doha on March 21, 2026. Photo by AFP
Doha, Qatar: Qatar's non-hydrocarbon Gross Domestic Product (GDP) grew by 3.5% year-on-year (YoY) in the first quarter of 2026.
The National Planning Council affirmed in a statement on Monday that these results reflect the resilience and economic stability of the State of Qatar despite regional conditions and challenges that impacted trade routes, increased transport and insurance costs, and heightened pressures on global supply chains.
Commenting on the economic performance, HE Secretary General of the National Planning Council, Dr. Abdulaziz bin Nasser bin Mubarak Al Khalifa, stated, "Recent indicators demonstrate the resilience of the Qatari economy and the effectiveness of the State's long-term strategic planning. Despite geopolitical escalation which has placed external pressures on the economy, the strength of Qatar's institutions, sound fiscal management, and strategic investments have enabled us to maintain stability, protect consumers and businesses, and continue advancing towards our development goals".
Despite the positive performance of the non-hydrocarbon sectors, recent restrictions affecting shipping and exports in the region led to a 25.8% decline in Qatar's hydrocarbon GDP, resulting in a 7.0% year-on-year contraction in the overall economy in the first quarter of 2026, the statement noted.
The non-hydrocarbon sector continued to perform positively, it added, recording 3.5% year-on-year growth, driven by strong performance across several key economic activities. The construction sector grew 6.2% year-on-year in the first quarter of 2026, contributing QAR 1,374 million (1.2%) to growth in real non-hydrocarbon GDP. The Wholesale and Retail Trade sector grew by 9.0% YoY in Q1 2026, adding QR 1,314 million (1.1%) to non-hydrocarbon real GDP growth. Real Estate Activities increased by 6.1% YoY in Q1 2026, contributing QAR 814 million (0.7%) to non-hydrocarbon real GDP growth. Financial and Insurance Activities increased by 4.8% YoY in Q1 2026, adding QR 774 million (0.7%) to non-hydrocarbon real GDP growth. Public Administration Activities grew by 4.0% YoY in Q1 2026, adding QR 580 million (0.5%) to non-hydrocarbon real GDP growth.
The contribution of non-hydrocarbon sectors underscores Qatar's strong economic foundations, built over the past years, and its diversified economic base, in line with Qatar National Vision 2030, which aims to build a sustainable and diversified economy. Furthermore, the latest GDP figures reflect solid economic fundamentals and the effectiveness of measures implemented to safeguard the economy, maintain market stability, and ensure the continuity of essential services.
Despite regional geopolitical escalation, Qatar maintained an uninterrupted supply of essential goods and services, supported businesses and consumers through targeted measures, and sustained confidence across financial markets and the broader economy. During this period, government entities worked in direct coordination to monitor market conditions, preserve supply chain continuity, support economic activities, and minimise the impact of external supply disruptions on citizens, residents, and the business sector.
