Doha, Qatar: Qatar Central Bank (QCB) yesterday reported that the Qatari economy demonstrated solid resilience throughout 2025, bolstered by strong non-hydrocarbon sector performance.
In its Annual Macroeconomic Review, QCB reiterated that the overall real GDP expanded by 2.9 percent last year, largely powered by an impressive 4.8 percent growth in non-hydrocarbon activities, confirming that diversification efforts under Qatar National Vision 2030 are succeeding as the “main engine” of national expansion.
Coupled with stable price dynamics, evidenced by a low average inflation rate of 0.5 percent and steady real estate market conditions, the country’s broader economic strategy continues to insulate domestic activity against ongoing global volatility while building long-term sustainable momentum.
The central bank noted that general price pressures were well-contained and largely limited to specific consumer categories, such as jewelry and related items.
In tandem with controlled inflation, real estate prices remained stable in 2025, reflecting orderly market conditions without indications of economic overheating or speculative activity.
The domestic private sector maintained its expansionary trajectory, serving as a
pillar of non-hydrocarbon development.
The Purchasing Managers’ Index (PMI) posted an average score of 51.2 last year, remaining comfortably above the 50-point growth threshold that separates economic expansion from contraction.
This sustained figure indicates strong commercial activity, high enterprise confidence, and steady operational demand across private industries.
On the other hand, Qatar’s tourism sector recorded significant gains, consolidating the nation’s status as a leading regional tourist destination.
Visitor arrivals climbed to a record 5.1 million in 2025, up from 4.9 million in 2024 and 4 million in 2023. On the international front, Qatar preserved a strong external position, generating a current account surplus of QR116.2bn, equivalent to 14.8 percent of GDP. Financial and capital markets also demonstrated notable maturity and strength over the review period.
The Qatar Stock Exchange Index posted an annual gain of 1.8 percent, while the depth of local capital markets was expanded through the introduction of new sustainable and Sharia-compliant financial instruments.
Landmark listings during the year included Qatar’s first ESG-aligned bond and corporate Islamic sukuk.
Reaffirming this strong financial footing, global agencies maintained top-tier sovereign credit ratings for Qatar, with AA ratings from S&P and Fitch and an Aa2 rating from Moody’s, all backed by stable outlooks.
