Qatar’s GDP grows by 6.2pc in third quarter
December 31, 2013 - 9:56:27 am
DOHA: Qatar’s real gross domestic product (GDP) grew by 6.2 percent year-on-year in the third quarter of 2013, from 6 percent in the second quarter. The nominal GDP, the figure without adjusting for inflation, is up by 6.4 percent during the period, Ministry of Development Planning and Statistics (MDPS) said yesterday.
The Q3 2013 GDP expanded 4.3 percent from the previous quarter. The quarterly real GDP in the third quarter of 2013 is estimated at QR92.37bn compared to the estimate of Q3 of 2012 at QR87bn.
The mining and quarrying sector, which includes Qatar’s oil and gas production, grew 1.8 percent from a year ago. The non-mining and quarrying sectors in Q3 2013 showed a growth of 9.5 percent reaching to an estimated QR54.18bn.
The manufacturing sector, estimated at QR8.35bn in the third quarter of 2013, showed a growth of 3.1 percent over the corresponding quarter of 2012. Compared to second quarter this year, there has been a growth of 0.1 percent in the gross value added (GVA) of this sector. The growth in this activity has resulted from the rise in the production of basic chemicals, rubber & plastic products and other petrochemicals.
The GVA of the construction sector at QR10.59bn in Q3 this year though slightly less than the previous quarter’s level, shows a growth of 13 percent when compared to the figure of corresponding quarter of 2012 (QR9.37bn).
The trade, hotel and restaurants sector registered a growth of 11.1 percent in the third quarter this year over the corresponding quarter of 2012. The transport and communication sector generated a Value Added of QR6.70bn in Q3, 2013 against QR5.92bn estimated in Q3, 2012. It shows a growth of 13.1 percent. Compared to Q2 of 2013 revised estimate, the Value is up by 16.8 percent.
The finance, insurance, real estate and business services group showed a growth of 10.5 percent in Q3 of 2013, compared the corresponding quarter in 2012. The estimated value of this group in the third quarter of 2013 is QR10.14bn compared to QR9.18bn in the third quarter of 2012. On quarter-on-quarter basis, the group’s value increased by 0.7 percent.
The contribution of government services, which includes the provision of public health, education and other miscellaneous services is estimated at QR10.13bn in Q3 of 2013, which is 9.6 percent higher than the estimate of Q3 of 2012 (QR.9.24bn).