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FINANCIAL NEWS
Qatar’s non- hydrocarbon sector drives economic growth
05 Oct 2014
(MENAFN) The non-hydrocarbon sector in Qatar continues to drive economic growth, supporting the diversification of the economy as GRP growth hit 5.7 percent in the second-quarter period, QNA reported.
The 11.3 percent rapid growth in the non-hydrocarbon sector was spurred by large investments in major infrastructure projects and by the fast growing population.
On the other hand, the hydrocarbon sector declined by 2.2 percent over a year earlier as a result of lower crude oil production and temporary gas production shutdowns.
The latest growth figures confirm Qatar’s ongoing rapid process of economic diversification away from its traditional role as a hydrocarbon exporter towards a manufacturing and services hub.
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