Qatar Economic Outlook Issue Number 13

Part 2 - Economic Performance 2017 - 2020 
 
47 
 

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Qatar Economic Outlook 2021 - 2023 
48 
PART 2: ECONOMIC 
PERFORMANCE 2017-2020
Summary 
Traditionally, the performance section of 
QEO Report analyzes the economic 
developments for the previous year, but what 
the Qatari economy experienced in 2020 - as 
did other economies around the world - was 
exceptional due to the rapid spread of the 
Covid-19 pandemic, which precipitated wide-
ranging and multi-dimensional economic and 
social repercussions.
In addition, 2020 and the first three quarters 
of 2021 witnessed statistical developments 
represented by (1) the General Census of 
Population, Housing and Establishments 
2020 being completed, (2) the analysis of 
economic survey data for the period (2017-
2019) was completed, and (3) the change in 
the base year from 2013 to 2018.
Therefore, this part of the report presents the 
economic developments during a much 
longer period than is usual in the QEO, i.e., 
(2017 to Sept 2021), and includes a brief 
quantitative and qualitative analysis on the 
developments of the Covid-19 pandemic and 
its repercussions on economic conditions, 
public finances, the banking sector, foreign 
trade, etc. 
As Table (2-1) indicates, the average annual 
rate of change of GDP (at constant prices) for 
the period (2017-2019) was about 0.13%, 
with a maximum of 1.2% and a minimum of 
negative 1.5%. Most of the growth has 
derived from non-oil activities, which 
achieved an average growth of slightly more 
than 1.1%, while the activities of the oil sector 
declined by an average of 1.4%, as a result 
of the fact that some oil and gas fields have 
hit the peak of their production capacity, and 
therefore their productivity declines when 
routine periodic maintenance is performed. 
The preliminary data of GDP at constant 
prices for 2020 also showed an economic 
contraction of about negative 3.56%, which 
resulted from the decline in non-oil activities 
by about negative 4.5%, together with the 
activities of the oil sector by about negative 
2% as a result of the global economic 
slowdown due to the imposition of Covid-19 
containment measures. 
As for the performance of the nominal GDP 
(at current prices), during the period (2017-
2019) it amounted to an average of about 
5.4%, with a maximum of 13.8% and a