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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.

Qatar's economy recorded strong growth in 2024, with gross domestic product (GDP) reaching $196bn, supported by the expansion of non-hydrocarbon sectors and an increase in foreign direct investment, which exceeded $2.7bn.This was disclosed by HE the Minister of Finance Ali bin Ahmed al-Kuwari, at a dedicated session on Qatar National Vision 2030, held as part of the Asia Leaders Conference organised by Goldman Sachs in Hong Kong.In his opening remarks, HE al-Kuwari reviewed the progress Qatar has made in implementing the National Vision 2030, emphasising that the vision serves as an ambitious national roadmap for building a diversified and sustainable economy based on knowledge and innovation.The event brought together an elite group of decision-makers, business leaders, and investors from across Asia and around the world. Affirming that Asia remains a key strategic partner for Qatar, accounting for the largest share of the country's trade, which exceeded $80bn annually; he indicated that this figure is expected to grow further in light of the ongoing North Field Expansion and the anticipated rise in liquefied natural gas (LNG) exports, as well as long-term partnerships secured with several Asian countries.He also highlighted that the next phase of co-operation with Asia will focus on expanding trade opportunities, strengthening public-private partnerships particularly in healthcare and tourism and boosting investment in clean energy, digital technologies, and advanced industries.