Posted on June 24, 2017

Qatar's real gross domestic product (GDP) at constant 2013 prices grew 2.5 percent to QR197.70 billion in the first quarter of 2017 when compared with the real GDP of QR192.97 billion registered in the same quarter last year, according to a report released by the Ministry of Development Planning and Statistics (MDPS) on Thursday. However, when compared with the revised real GDP of QR200.69 billion in the previous quarter, a decrease of 1.5 percent is noticed. 

The preliminary estimates of GDP at current prices for the first quarter of 2017 is estimated at QR 150.94 billion, representing an increase of 14.5 percent compared to the estimate of QR 131.79 billion in the first quarter last year. When compared with the revised estimate of GDP at current prices QR147.04 billion in the previous quarter, an increase of 2.7 percent is noticed in the first quarter of 2017. The report noted that year-on-year growth rate for real GDP in the fourth quarter of 2016 has remained at 1.7 percent after revision.

The total value of exports from the country stood at QR74.75 billion in the first quarter of 2017 as against QR64.66 billion in the first quarter 2016, showing an increase of 15.6 percent. This year-on-year (Y-o-Y) rise in the value of exports during the first quarter of 2017 is due to increases in the exports of goods by 17.7 percent and the exports of services by 8.1 percent. The percentage share of exports in nominal GDP during the first quarter has been estimated at 49.5 percent. The total value of imports in the country is estimated at QR58.49 billion in the first quarter of 2017 as against QR59.22 billion in the same quarter last year, showing a decrease of 1.2 percent. The decrease in the imports is due to a decrease in the imports of goods by 4.4 percent. 

The percentage share of imports in nominal GDP during the first quarter has been estimated at 38.7 percent. The nominal gross value added (GVA) estimate of the mining and quarrying sector in the first quarter is QR50.17 billion, showing an increase of 32.6 percent over the estimate of QR 37.84 billion in the same quarter last year. Compared to the previous quarter's revised estimate, there has been a rise of 8.2 percent in the GVA of this sector. The nominal GVA estimate of non-mining and quarrying sectors in the first quarter of 2017 is estimated at QR100.78 billion, which shows an increase of 7.3 percent over the estimate of QR93.96 billion in the same quarter last year. Compared to the previous quarter's revised estimate, an increase of 0.1 percent has been recorded.

The real GVA of these sectors in the first quarter of 2017 is estimated at QR101.49 billion, which shows a growth of 4.9 percent over the corresponding quarter GVA estimate of QR96.76 billion over the corresponding quarter last year. However, compared to the previous quarter's revised estimate there has been a decrease of 3 percent in the GVA of this sector. The Y-o-Y growth in the first quarter is mainly due to the increases seen in construction, financial and insurance services, and real estate activities, the report said.The nominal GVA estimate of the construction stood QR19 billion in first quarter, an increase of 17.7 percent when compared to the estimate of QR16.14 billion in the same quarter last year. However, compared to the previous quarter's revised estimate, an increase of 11.7 percent is noticed.

The real GVA of the wholesale and retail trade sector is estimated at QR 12.61 billion in the first quarter, registering a growth of 1.4 percent over the GVA of QR 12.43 billion in the corresponding quarter last year. Compared to the previous quarter, the GVA of this sector has decreased by 15.3 percent. Transport and Storage sector generated a nominal value added of QR4.75 billion in the first quarter against QR4.55 billion in the same quarter last year, showing a rise of 4.5 percent. Compared to the previous quarter, an increase of 2.8 percent in the GVA estimate has been noticed in this group.

The nominal GVA contribution of the general government activities which includes the provision of public administration, education, human health and recreation and other services is estimated at QR18.65 billion in the first quarter of 2017, which is 6.7 percent higher than the estimate of QR 17.48 billion in the same quarter last year. The real GVA contribution of the general government activities is estimated at QR 17.71 billion in first quarter, which is 4.6 percent higher than the estimate QR 16.93 billion in the same quarter last year. The government final consumption expenditure (GFCE) for the first quarter of 2017 has been estimated at QR33.94 billion as against QR31.80 billion recorded in the first quarter of the previous year.

source: Qatar Tribune

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