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Satyendra Pathak
Doha
Qatar’s economy contracted by 0.6 percent to QR206.58 billion in the fourth quarter of 2019 from QR 207.75 billion in the same quarter a year earlier, according to the Planning and Statistics Authority’s (PSA) preliminary estimates of gross domestic product (GDP) at constant prices for the fourth quarter of 2019.
However, compared to the third quarter of 2019 revised estimate of QR 209.52 billion, a decrease of 1.4 percent is recorded.
The quarterly GDP at current prices in the fourth quarter of 2019 is estimated at QR167.76 billion. This represents a decrease of 7.2 percent compared to the estimate of the same quarter in 2018 placed at QR 180.74 billion. When compared to the revised estimate of QR 167.45 billion in the previous quarter, an increase of 0.2 percent is recorded.
According to PSA, the nominal gross value added (GVA) estimate of Mining and Quarrying activities is estimated at QR 54.68 billion in the fourth quarter of 2019, which shows a decrease of 19 percent over the estimate QR 67.51 billion for the same quarter in the previous year.
Compared to the revised estimate of the previous quarter, there has been a decrease of 1.9 percent in the GVA of this sector.
The real GVA of these activities in the fourth quarter of 2019 is estimated at QR93.81 billion, which shows a decrease of 3.4 percent over the estimate of QR 97.14 billion in the fourth quarter of the previous year. Compared to the revised estimate the third quarter of 2019, a decrease of 3.4 percent in the real GVA of this sector is recorded.
The nominal GVA estimate of Non-Mining and Quarrying activities is estimated at QR 113.08 billion in the fourth quarter of 2019, which shows a decrease of 0.1 percent over the estimate of QR113.24 billion in the fourth quarter of 2018. Compared to the previous quarter’s revised estimate, an increase of 1.2 percent has been recorded.
Qatar sold $10 billion in a three-tranche bond deal on Tuesday. The bond prospectus, seen by Reuters, said the new coronavirus outbreak could continue to hurt Qatar’s economy and financial markets, and could even lead to recession this year.
The PSA estimates have been produced by using the data collected through the quarterly economic indicator survey and from other source agencies. The estimates for the third quarter of2019 have been revised.
The PSA said that the revised estimates of quarterly GDP at constant prices for the third quarter of 2019 are virtually unchanged when compared with the third quarter of 2018.
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10/04/2020
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