Qatar’s economic growth edges up to 5.7% in Q2

Qatar’s economic growth picked up slightly to 5.7 percent on an annual basis in the second quarter of this year as robust non-oil activity outweighed a decline in the hydrocarbon sector, official data showed on Tuesday.

Real gross domestic product growth accelerated from a downwardly revised 5.4 percent in January-March, which was the slowest rate since the third quarter of 2012. Previously, officials had put first-quarter growth at 6.2 percent.

“The year-on-year growth in the second quarter 2014 is the result of double-digit rises seen mainly in electricity, construction, trading, hospitality and financial sectors, coupled with an over 11.3 percent jump in the country’s population in the second quarter,” the Qatar Statistics Authority said.

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