Qatar GDP Growth Rebounds To 6.2% in Q1, Construction Jumps » Gulf Business

Qatar GDP Growth Rebounds To 6.2% in Q1, Construction Jumps » Gulf Business:



"Qatar’s economic growth rebounded to 6.2 per cent on an annual basis in January-March after a slowdown in the final quarter of 2013 as a double-digit surge in construction activity helped offset a decline in hydrocarbons, data showed on Monday.



Overall gross domestic product growth slowed to a downwardly revised 5.5 per cent in the previous quarter due to a sharp fall in the hydrocarbon sector, which accounts for more than half the $202 billion economy. Other sectors continued to expand rapidly.



“The high growth in the first quarter of 2014 is the result of a double-digit rise seen mainly in construction, trading, hospitality and financial sectors coupled with over 9.2 per cent jump in the country’s population,” the Qatar Statistics Authority said."



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