Qatar Central Bank (QCB) showcased the strong performance of the national economy, the continued momentum of economic diversification, and the robustness of key macroeconomic indicators in its 2025 Annual Macroeconomic Review. The review reaffirms the resilience of Qatar's economy and its ability to withstand challenges and sustain economic stability.The report showed that Qatar's real GDP grew by 2.9% in 2025, reflecting continued economic resilience despite a challenging global environment.Non-hydrocarbon GDP expanded by 4.8%, confirming that diversification remains the main engine of growth in line with Qatar National Vision 2030. The growth in non-hydrocarbon GDP reflects the continued expansion of the country’s economic activity base, with sectors and activities not directly linked to hydrocarbons playing an increasingly important role in supporting growth. This strengthens the Qatari economy’s capacity to achieve more diversified and sustainable growth.Inflation in Qatar remained contained, averaging 0.5% in 2025, with price pressures largely limited to selected categories, including jewelry and related items.Real estate prices in Qatar remained stable during 2025, indicating orderly market conditions and no signs of overheating.Tourism continued to strengthen, with visitor arrivals reaching 5.1 million in 2025, up from 4.9 million in 2024 and 4.0 million in 2023, confirming Qatar's position as a leading regional tourist destination.The private sector remained firmly in expansion territory, with the Purchasing Managers’ Index averaging 51.2 in 2025, comfortably above the 50-point growth threshold. The index remaining above this level indicates that activity in the non-hydrocarbon private sector continued to expand, underscoring its growing role in supporting economic activity and diversifying the sources of growth.Qatar maintained a strong external position in 2025, recording a current account surplus of QR 116.2 billion, equivalent to 14.8% of GDP.Qatar’s financial markets demonstrated continued resilience in 2025, with the Qatar Stock Exchange Index recording an annual gain of 1.8%.Qatar maintained strong sovereign credit ratings in 2025; AA from S&P and Fitch and Aa2 from Moody’s, all with stable outlooks from all three agencies.These high ratings reflect the continued strength of Qatar’s economic and fiscal fundamentals, as well as the robustness of its financial and external positions. They also reaffirm the country’s continued high level of sovereign creditworthiness, as assessed by international credit rating agencies.Overall, the report confirms that the Qatari economy ended 2025 with a balanced performance, combining real economic growth, price stability, a strong external position, and resilient financial markets. This strengthens confidence in the country’s ability to continue implementing economic diversification policies and consolidates its position as one of the most stable economies in the region.