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Nominal GDP grows 20.4% in 2018 Q3

Nominal GDP grows 20.4% in 2018 Q3

QNA
Doha
Qatar’s Gross Domestic Product at current prices (Nominal GDP) grew by 20.4 percent in the third quarter of 2018 (Q3) over the same quarter in the previous year.
The quarterly GDP at current prices in Q3 of 2018 is estimated at QR180.90 billion. This represents an increase of 20.4 percent compared to the estimate of Q3 of 2017 (QR150.19 billion). When compared to previous quarter (Q2 of 2018) revised estimate of QR 170.58 billion, it grew by 6 percent.
The GDP growth accelerated to an annual 2.2 percent in the third quarter of 2018 from a revised 1.7 percent in the second quarter, the Ministry of Development Planning and Statistics said on Thursday.
The quarterly GDP at constant prices (2013=100) in Q3 of 2018 (QR 210.77 billion) shows a growth of 2.2 percent compared to the estimate of Q3 of 2017 (QR 206.29 billion). However, quarter-on-quarter growth climbed to 4 percent, the highest rate in at least two years, from 1.2 percent.
This came in the preliminary estimates of GDP at current and constant prices for the third quarter (Q3) of 2018, released by the Planning and Statistics Authority (PSA).
The estimates have been made by using the data collected through the Quarterly Economic Indicator Survey and from other source agencies.
In the Mining and Quarrying sector, the nominal Gross Value Added (GVA) estimate is QR 67.89 billion in Q3 2018, which shows an increase of 43.9 percent over the estimate of Q3 2017 placed at QR 47.18 billion. Compared to the previous quarter (Q2 of 2018) revised estimate, there has been an increase of 11.1 percent in the GVA of this sector.
The real GVA of these activities in Q3 2018 is estimated at QR 98.82 billion, which shows a decrease of 0.1 percent over the estimate of Q3 2017 (QR 98.93 billion).
However, compared to Q2 2018 revised estimate, there has been an increase of 3.7 percent in the real GVA of this sector.