DUBAI (Reuters) - Qatar’s economy grew 4% year-on-year in the second quarter, according to official preliminary estimates, fuelled mainly by the non-hydrocarbon sector. On a quarterly basis, however, gross domestic product (GDP) based on constant prices decreased 0.3%, the Gulf state’s statistics authority said on Sunday. Mining and quarrying GDP expanded 0.7% year-on-year in the second quarter, while non-mining and quarrying activities posted a 6.2% growth. Accommodation and food service activities saw the biggest annual jump, growing 41%, reflecting the low base last year because of coronavirus-related restrictions. Transportation and storage activities followed, with a 26.9% growth, while manufacturing grew 13.4%. Qatar, a major liquefied natural gas (LNG) producer, posted a surplus of about $1 billion in the second quarter, the finance ministry said in August, citing higher than budgeted oil prices. In January it reached a breakthrough on a three-year old dispute with Saudi Arabia and three other Arab countries that had imposed a diplomatic, trade and travel embargo. Reporting by Davide Barbuscia; Editing by Emelia Sithole-Matarise Our Standards: The Thomson Reuters Trust Principles.
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