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Business Stories

Qatar Generates 193 Billion QAR in GDP by Third Quarter of 2014

The Qatari economy witnessed a growth during the third quarter of 2014 of around 4.1% in its Gross Domestic Product (GDP), registering 193 Billion QAR for its GDP. The non-Hydrocarbon sectors in particular achieved gains of nearly 14% year-on-year, whose fixed-price GDP estimates for the period reached 97.51 Billion QAR. The importance of the non-Hydrocarbon sector’s contribution has never been more appreciated, as the hydrocarbon sector experienced a dip of 4.3% when comparing third quarter results from 2014 and 2013, acquiring 95.26 billion QAR. The dip was attributed to a reduction in crude oil production, as well as the implementation of maintenance works in the LNG production plants, according to a Ministry of Developmental Planning and Statistics release.