Dec. 30 (Bloomberg) -- Qatar’s economy expanded 3.9 percent in the third quarter amid a double-digit rise in manufacturing.
Manufacturing grew 14 percent, backed by a rise in production of petrochemicals, fertilizer, aluminum and liquid fuels derived from gas, the Qatar Statistics Authority said in an e-mailed release today.
The world’s biggest producer of liquefied natural gas is diversifying away from petroleum exports into industries and financial services after starting its 14th and final gas liquefaction plant last year. Qatar’s growth will come from non-oil and gas until about 2015, Frank Harrigan, director of economic development at Qatar’s planning agency said on Dec. 23.
Mining and quarrying, the largest segment of the economy including oil and gas, declined 0.8 percent as gas liquefaction plants were shut for maintenance during the quarter, according to the report. The construction, transport and communication industries each expanded 9.4 percent.
Qatar’s economy in current prices expanded 5.9 percent. The country’s gross domestic product at constant prices rose to 87.04 billion riyals ($23.2 billion) during the quarter from 83.75 billion riyals.
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