Qatar’s Non-Hydrocarbon Economy Grows 2.6 Percent in Q2 as Real Estate Expands 11 Percent
Qatar’s non-hydrocarbon gross domestic product grew 2.6 percent year on year in the second quarter of 2026, sustaining growth despite disruptions to trade routes and supply chains, the National Planning Council said on Wednesday. Real estate activities led with annual growth of 11.0 percent, followed by financial and insurance activities at 8.3 percent.
Four sectors lead the gains
| Sector | Growth, y/y | Contribution, QAR million | Contribution, percentage points |
|---|---|---|---|
| Real estate | 11.0% | 1,438 | 1.2 |
| Finance and insurance | 8.3% | 1,356 | 1.1 |
| Construction | 5.5% | 1,178 | 1.0 |
| Wholesale and retail trade | 6.9% | 1,010 | 0.8 |
Real terms, second quarter 2026 against the same quarter of 2025. Contributions are to real non-hydrocarbon GDP growth.
The four sectors together added 4.1 percentage points, or 4,982 million riyals, which means the rest of the non-hydrocarbon economy subtracted about 1.5 percentage points from growth, on our calculation. Real estate alone supplied 1.2 percentage points, nearly half the 2.6 percent headline. Hydrocarbon GDP fell 50.7 percent as regional constraints affected shipping and exports, the council said.
Built on diversification
Secretary-General Dr Abdulaziz bin Nasser bin Mubarak Al Khalifa said the results reaffirm the strength of the foundations Qatar has built through years of strategic planning and investment aimed at diversifying the economy.
Why it matters: Growth in real estate, finance, construction and trade during a quarter of disrupted trade routes and supply chains shows the non-hydrocarbon base cushioning the hydrocarbon shock, in line with the diversification goals of Qatar National Vision 2030.
Outlook: The third quarter release will show whether real estate, finance and construction extend their gains.
Sources: National Planning Council, The Edge.
