Qatar’s nominal GDP rises 8.6% in Q2, 2017

 02 Oct 2017 - 3:26

By Mohammad Shoeb / The Peninsula

Qatar’s nominal GDP witnessed a remarkable growth in the second quarter of this year (Q2, 2017), on year-on-year basis.
The nominal GDP, measured at current prices, for Q2 2017 was estimated at QR146.26bn ($40.16bn), showing a sharp jump of 8.5 percent compared to QR134.81bn ($37.02bn) estimated for the corresponding period last year (Q2 2016).
However, the real GDP for Q2 2017, measured at constant prices of 2013, reached QR198.60bn, showing a marginal growth of 0.6 percent compared to the estimate of Q2 2016 which stood at QR197.47bn, preliminary estimates released by the Ministry of Development Planning and Statistics show.
The estimates have been produced by using the data collected through the ‘Quarterly Economic Indicator Survey’ and from other source agencies, said the Ministry in a statement, yesterday.
When compared on quarterly basis with the revised GDP estimate of QR197.61bn for the previous quarter (Q1, 2017), the growth in Q2 2017 GDP was 0.5 percent.
The Gross Value Added (GVA) estimate of Mining and Quarrying activities (which include gas and crude oil), at current prices, was estimated at QR46.58bn in Q2 2017, which shows an increase of 15.6 percent over the estimate of Q2 2016 placed at QR40.29bn. Compared to the previous quarter (Q1 2017) revised estimate, there has been a decrease of 6.8 percent in the GVA of this sector. Refer to decrease of oil and gas prices.
The real GVA of these activities in Q2 2017 is estimated at QR96.85bn, which shows a decrease of 2.7 percent over the estimate of Q2 2016 (QR99.51bn). However, compared to Q1 2017 revised estimate, there has been a rise of 1percent in the real GVA of this sector. Non-Mining and Quarrying activities (Non-Include Gas and Crude Oil)
The current prices GVA estimate of Non-Mining and Quarrying activities is estimated at QR99.68bn in Q2 2017, which shows an increase of 5.5 percent over the estimate of Q2 2016 (QR94.53bn).
Compared to the previous quarter (Q1 of 2017) revised estimate, a decrease of 1.3 percent has been recorded.
The real GVA of these activities totaled QR101.75bn in Q2 2017, which shows a growth of 3.9 percent over the estimate of the corresponding quarter in 2016 (QR97.96bn).
However, compared to Q1 2017 revised estimate, the Non-Mining and Quarrying activities remained virtually unchanged.