Qatari Second-Quarter GDP Drops to Lowest Since 2012 on Pandemic

(Bloomberg) -- Qatar’s economy performed its worst since at least 2012 during the second quarter amid lockdown measures to combat the coronavirus.

The gas-rich nation’s gross domestic product fell 6.1% in the April-to-June period on an annual basis, according to estimates by the Planning and Statistics Authority. The economy contracted 1% in the same period of 2019.

Transportation, warehousing, retail trade, accommodation and leisure services in the world’s biggest shipper of liquefied natural gas were especially hit by the Covid-19 pandemic.

The International Monetary Fund projects Qatar’s GDP to fall 4.5% this year, the smallest contraction among Arab Gulf states.

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