His Highness the Amir Sheikh Tamim bin Hamad Al-Thani said that the State of Qatar supplies approximately one-fifth of the world’s liquefied natural gas trade, and any disruption affecting it is quickly reflected in markets and consumers everywhere.
HH the Amir said that the closure of the Strait of Hormuz, together with the direct damage inflicted on some energy facilities in Ras Laffan Industrial City, disrupted a significant portion of the country’s exports. However, the impact of these economic developments was primarily concentrated in the energy sector, while the non-hydrocarbon sectors continued to grow, with their contribution reaching approximately 80% of real GDP. This, His Highness said, reflects the resilience of the national economy and its ability to sustain growth under exceptional and complex circumstances.
Addressing the inauguration of the second ordinary session of the second legislative term, corresponding to the 55th annual session of the Shura Council, on Tuesday, HH the Amir said that from the very outset of the crisis, the state placed protecting people, securing their needs, and boosting economic activity at the forefront of its priorities. Its institutions, in cooperation with the private sector, worked to diversify supply routes and secure essential goods and strategic reserves.
