Qatar’s economic outlook for 2026 has significantly improved, primarily due to increased gas production and successful diversification initiatives, Standard Chartered reported on Monday.
Revised Growth Projections
Standard Chartered has raised its GDP growth forecast for Qatar in 2026 to 5.5%, a substantial jump from its previous projection of 4%. This revised figure also surpasses the market’s average expectation of 5.2%. However, the bank’s 2025 GDP growth forecast for Qatar remains unchanged at 4%.
Key Growth Drivers
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Higher Gas Production and LNG Exports: The main reason for the optimistic 2026 forecast is the anticipated boost from increased gas production and liquefied natural gas (LNG) exports.
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Non-Hydrocarbon Sector: The non-hydrocarbon sector, which contributes over 60% to Qatar’s GDP, is expected to be the primary growth engine in the second half of 2025. This sector saw remarkable growth of 6.1% year-on-year in the fourth quarter of 2024.
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Diversification Efforts: Key drivers within the non-hydrocarbon sector are likely to be tourism, financial services, and trade.
Standard Chartered also highlighted Qatar’s reforms and strategic investments as crucial for maintaining its robust economic stability amidst a fluctuating global landscape.
Muhannad Mukahall, CEO and Head of Coverage at Standard Chartered Qatar, stated that Qatar’s “long-term vision continues to set it apart,” showcasing how “targeted reforms and strategic investments can unlock new engines of sustainable growth and keep the economy on a firm trajectory in 2025 and beyond.”
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