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08 January 2017
By Mohammad Shoeb
Qatar’s quarterly real gross domestic product (GDP) estimate in the third quarter of 2016 (Q3, 2016), at 2013 constant prices, stood at QR204.62bn, showing a year-on-year growth of 3.7 percent compared to the estimate of QR197.34bn for the corresponding quarter previous year (Q3, 2015), according to preliminary estimates released by the Ministry of Development Planning and Statistics.
At a time when major global economies are struggling to boost growth, the Qatari economy has performed much better than the estimates of global average despite the dwindling energy prices. This positive and real growth can be attributed to the strong performance of the non-mining and quarrying activities, especially the Construction, Financial and Insurance activities, which have witnessed a real growth of 4.7 percent in Q3, 2016 (Y-o-Y).
The Mining and Quarrying activities showed an increase in Q3, 2016 of 2.7 percent (in real terms) compared to Q3, 2015.
When compared to the previous quarter (Q2, 2016) revised estimate of QR197.47bn, an increase of 3.6 percent was noticed. However, when estimated at current prices, the quarterly GDP in Q3, 2016 stood at QR140.48bn. This represents a decrease of 5.7 percent compared to the estimate of Q3, 2015 placed at QR149bn. When compared to previous quarter (Q2, 2016) revised estimate of QR134.81bn, an increase of 4.2 percent was noticed.
It is to be noted that Q2, 2016 year-on-year growth rate for quarterly GDP at constant prices has been revised downwards to 1.8 percent, from 2.0 percent released previously.
The Ministry has released the preliminary estimates of GDP at current and constant prices for the third quarter (Q3) of 2016. The estimates have been produced by using the data collected through the Quarterly Economic Indicator Survey and from other source agencies.
The nominal Gross Value Added (GVA) estimate of Mining and Quarrying sector in the Q3, 2016 has been QR43.79bn, showing a decline of 22.1 percent over the estimate of Q3, 2015, placed at QR56.21bn . Compared to the previous quarter (Q2, 2016) revised estimate, there has been a rise of 8.7 percent in the GVA of this sector. The real GVA of this sector in the Q3, 2016 (QR102.69bn), shows an increase of 2.7 percent over the estimate of Q3, 2015 (QR 100.02bn). However, compared to the previous quarter (Q2 of 2016) revised estimate, there has been an increase of 3.2 percent in the GVA of this sector.
The Ministry explained that in Q3, 2016, the drop in the international price of crude oil and related goods has led to a decline in nominal GVA of this sector, as it had happened in previous quarters of 2015 and 2016. The nominal GVA estimate of Non-Mining and Quarrying sectors in the Q3, 2016 has been placed at QR96.69bn, which showed an increase of 4.2 percent over the estimate of QR92.79bn in Q3, 2015. Compared to the previous quarter (Q2, 2016) revised estimate, an increase of 2.3 percent was recorded.Share this post
By Mohammad Shoeb
Qatar’s quarterly real gross domestic product (GDP) estimate in the third quarter of 2016 (Q3, 2016), at 2013 constant prices, stood at QR204.62bn, showing a year-on-year growth of 3.7 percent compared to the estimate of QR197.34bn for the corresponding quarter previous year (Q3, 2015), according to preliminary estimates released by the Ministry of Development Planning and Statistics.
At a time when major global economies are struggling to boost growth, the Qatari economy has performed much better than the estimates of global average despite the dwindling energy prices. This positive and real growth can be attributed to the strong performance of the non-mining and quarrying activities, especially the Construction, Financial and Insurance activities, which have witnessed a real growth of 4.7 percent in Q3, 2016 (Y-o-Y).
The Mining and Quarrying activities showed an increase in Q3, 2016 of 2.7 percent (in real terms) compared to Q3, 2015.
When compared to the previous quarter (Q2, 2016) revised estimate of QR197.47bn, an increase of 3.6 percent was noticed. However, when estimated at current prices, the quarterly GDP in Q3, 2016 stood at QR140.48bn. This represents a decrease of 5.7 percent compared to the estimate of Q3, 2015 placed at QR149bn. When compared to previous quarter (Q2, 2016) revised estimate of QR134.81bn, an increase of 4.2 percent was noticed.
It is to be noted that Q2, 2016 year-on-year growth rate for quarterly GDP at constant prices has been revised downwards to 1.8 percent, from 2.0 percent released previously.
The Ministry has released the preliminary estimates of GDP at current and constant prices for the third quarter (Q3) of 2016. The estimates have been produced by using the data collected through the Quarterly Economic Indicator Survey and from other source agencies.
The nominal Gross Value Added (GVA) estimate of Mining and Quarrying sector in the Q3, 2016 has been QR43.79bn, showing a decline of 22.1 percent over the estimate of Q3, 2015, placed at QR56.21bn . Compared to the previous quarter (Q2, 2016) revised estimate, there has been a rise of 8.7 percent in the GVA of this sector. The real GVA of this sector in the Q3, 2016 (QR102.69bn), shows an increase of 2.7 percent over the estimate of Q3, 2015 (QR 100.02bn). However, compared to the previous quarter (Q2 of 2016) revised estimate, there has been an increase of 3.2 percent in the GVA of this sector.
The Ministry explained that in Q3, 2016, the drop in the international price of crude oil and related goods has led to a decline in nominal GVA of this sector, as it had happened in previous quarters of 2015 and 2016. The nominal GVA estimate of Non-Mining and Quarrying sectors in the Q3, 2016 has been placed at QR96.69bn, which showed an increase of 4.2 percent over the estimate of QR92.79bn in Q3, 2015. Compared to the previous quarter (Q2, 2016) revised estimate, an increase of 2.3 percent was recorded.Share this post
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