Excerpt from GDP Growth:
Real GDP growth is expected to be 4.8%, revised marginally higher from June. Among the underlying components of GDP, the main contributory factor in this upgrade is a smaller predicted decline in oil and gas output—0.2% versus 1.2%—which stems largely from upward revisions to the projections of crude oil volumes for 2013. Little or no growth in LNG production is foreseen during the year, with all gas trains operating at full capacity, other than for maintenance.
The non-hydrocarbon sector is expected to grow by 9.6% in 2013, a marginal (0.1 percentage point) upwards revision on the June 2012 forecast. The forecast contributions to GDP growth are shown in figure 1.3.
By the end of 2013, service activity is expected to contribute more than 60% of the total growth in Qatar’s economy, and its share in total real GDP will have risen to 32.5% (figure 1.4), from an expected 31.1% in 2012. Further expansion is anticipated in financial services, telecommunications and transportation, and other service segments. Activity at the new Doha International Airport is expected to ramp up in 2013 ahead of its scheduled opening for passengers the following year.
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