Wednesday, October 28, 2020
banner
Home /  Business  /  Qatar’s GDP rises 0.9% to QR167.33 billion in Q1

Qatar’s GDP rises 0.9% to QR167.33 billion in Q1

Qatar’s GDP rises 0.9% to QR167.33 billion in Q1

Satyendra Pathak
Doha
Qatar’s gross domestic product (GDP) at constant prices increased 0.9 percent to QR167.33 billion in the first quarter of 2020 when compared to the revised estimate of GDP in the first quarter of 2019, according to the preliminary estimates of the Planning and Statistics Authority (PSA) released on Thursday.
When compared to the revised estimate of QR169.64 billion in the fourth quarter of 2019, a decrease of 1.4 percent has been recorded.
The PSA, which released the preliminary estimates of GDP at both constant and current prices, said that GDP at current prices in the first quarter of 2020 is estimated at QR153.77 billion. This represents a decrease of 5.5 percent compared to the revised estimate of QR 162.71 billion in the first quarter of 2019.
When compared to the revised estimate of QR159.65 billion in the previous quarter, a decrease of 3.7 percent has been recorded.
The nominal GVA estimate of mining and quarrying activities decreased 15.5 percent to QR51.84 billion in the first quarter of 2020 over the revised estimate of QR61.37 billion in the first quarter of the previous year.
Compared to the revised estimate of the previous quarter, a decrease of 5.4 percent in the GVA of this sector has been recorded.
The real GVA of mining and quarrying remained unchanged at QR64.18 billion in the first quarter of 2020 compared to the revised estimate of the same quarter in the previous year. Compared to the revised estimate of the fourth quarter of 2019, an increase of 2.9 percent in the real GVA has been recorded.
The nominal GVA estimate of non-mining and quarrying activities are estimated at QR101.93 billion in the first quarter of 2020, an increase of 0.6 percent over the revised estimate of QR101.34 billion in the same quarter last year. Compared to the revised estimate of the previous quarter, a decrease of 2.8 percent has been recorded.
The real GVA of these activities totalled QR103.15 billion in the first quarter of 2020, which shows an increase of 1.4 percent over the revised estimate QR101.72 billion in the same quarter last year. However, compared to the revised estimate of the previous quarter, the real GVA estimate of non-mining and quarrying activities decreased by 3.8 percent.
The PSA has revealed that that GDP estimates for the last 12 quarters have been revised after applying the results of the annual economic survey for 2017 and 2018 into GDP estimates.
At the same time, the base year for constant GDP estimates has been changed from 2013 to 2018.
The revised estimates of GDP for the last 12 quarters as well as the new base year structure will be soon published in a separate document, the PSA said.

Pages