The museum of Islamic Art in Doha, Qatar

Qatar Industrial production March 2024

Qatar: Industrial output drops again in March

Industrial production dropped 3.2% year on year in March (February: -3.0% yoy). March’s weakening was largely due to a sharper decline in energy output, which totals approximately 80% of industrial output. Meanwhile, manufacturing output, which makes up around 15% of all industrial output, fell at the same pace as in February.

Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 0.7%, down from February’s 1.3%.

The print means that industrial production declined 0.2% over Q1 as a whole, having also shrunk in Q4.

Analysts at EIU said:

“We expect Qatar to accelerate investment in renewables during the 2024-28 forecast period in order to meet emissions reduction targets as the government seeks to burnish its international environmental reputation. The renewables push will continue to emphasise solar power, as this has greater potential than Qatar’s limited wind sector. Nonetheless, natural gas will continue to dominate the energy mix.”

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