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Qatar’s first quarter GDP rises 7 percent

 
 

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The Peninsula, 2 July 2018

Qatar’s quarterly GDP at current prices in the first quarter (Q1) of 2018 is estimated at QR160.44bn, showing an increase of seven percent compared to the revised estimate of QR149.93bn in the same quarter last year of 2017.

The rise in quarterly GDP shows the resilience of Qatar’s growing economy which has successfully overcome challenges posed by the unjust blockade imposed by the siege countries. 

Quarterly GDP was estimated at QR162bn in the fourth quarter (Q4) of 2017, said the Ministry of Development Planning and Statistics (MDPS) yesterday in a press release. 

The quarterly GDP at constant prices in Q1 of 2018 (QR199.20bn) shows a growth of 1.4 percent compared to the revised estimate of Q1 of 2017 (QR196.52bn). However, compared to the previous quarter (Q4 of 2017) revised estimate of QR206.74bn, a decrease of 3.6 percent was registered.

The nominal Gross Value Added (GVA) estimate of Mining and Quarrying activities is estimated at QR51.07bn in Q1, 2018, which shows an increase of 4.3 percent over the revised estimate of Q1 2017 placed at QR 48.37bn. Compared to the previous quarter (Q4 of 2017) revised estimate, there has been a decrease of 5.2 percent in the GVA of this sector.

The real GVA of these activities in Q1, 2018, is estimated at QR94.07bn, which shows a decrease of 2.3 percent over the revised estimate of Q1, 2017 (QR96.34bn). However, compared to Q4, 2017 revised estimate, there was a decrease of 3.3 percent in the real GVA of this sector.

The nominal GVA estimate of Non-Mining and Quarrying activities is estimated at QR109.37bn in Q1, 2018, which shows an increase of 8.3 percent over the revised estimate of Q1, 2017 (QR100.99bn). Compared to the previous quarter (Q4 of 2017) revised estimate, an increase of 1.2 percent has been recorded.

The real GVA of these activities totaled QR105.13bn in Q1, 2018, which shows a growth of 4.9 percent over the revised estimate of the corresponding quarter in 2017 (QR100.19bn). However, compared to Q4, 2017 revised estimate, the real GVA of Non-Mining and Quarrying activities has decreased by four percent.

The Peninsula
02/07/2018

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