The Gulf state of Qatar's real gross domestic product grew 1% year on year in the second quarter, government estimates released on Tuesday showed.

Estimated quarterly GDP at constant prices, adjusted for inflation, stood at 170.1 billion Qatari riyals ($46.70 billion)compared to the estimate of 168.5 billion riyals for the same period last year, according to the Planning and Statistics Authority.

GDP rose 0.5% quarter-on-quarter from the first quarter.

Qatar, among the world's top exporters of liquefied natural gas (LNG), recorded a budget surplus of 10 billion riyals ($2.74 billion) in Q2 despite lower revenue from hydrocarbons and a sharp rise in spending.

Earlier this month, the International Monetary Fund (IMF) said that Qatar’s economic growth had normalised in 2023 following the World Cup-driven boom, with a favourable medium-term outlook supported by LNG production expansion and reforms. ($1 = 3.6426 Qatar riyals) (Reporting by Rachna Uppal, Editing by William Maclean)