Qatar’s Constant GDP Declines an Estimated 6.1% YoY in 2Q 2020; Lowest in Eight Years

Qatar’s gross domestic product (GDP) at constant prices recorded an estimated 6.1% year-on-year (YoY) decline in the second quarter of 2020 (2Q 2020), according to preliminary estimates by the country’s Planning and Statistics Authority (PSA).

The decline, which was the lowest in eight years, was attributed to the significant hit the economy took during the initial quarantine measures imposed by the COVID-19 pandemic in 2Q 2020, which resulted in several businesses halting operations or reducing daily activities, PSA reported.

The GDP (constant prices) of mining and quarrying activities declined 1.3% YoY in 2Q 2020, while non-mining and quarrying activities saw a 9.1% Y...