Qatar GDP Up 36.3%

Doha, March 28 (QNA) - The State of Qatar's preliminary Gross Domestic Product (GDP) estimate for the year 2011 at QR 631.61 billion has shown a rise of 36.3% over the estimate of QR463.49 billion, recorded in the year 2010. The Qatar Statistics Authority said Wednesday. The expansion in the production levels of gas-related products, LNG and condensates, coupled with increases in hydrocarbon prices has been instrumental in pushing the nominal GDP of the country, the report said. The oil and gas sector has contributed 51.7% and 58.3% of Qatar s total nominal GDP in 2010 and 2011 respectively. The Gross Value Added (GVA) estimate of the Mining and Quarrying Sector in the year 2011 is QR 364.46 billion, which shows an increase of 52% over the estimate of year 2010 placed at QR 239.75 billion. While the GVA of Non Mining and Quarrying sectors in the year 2011 has been estimated at QR 267.15 billion, which shows an increase of 19.4% over the estimate of year 2010 placed at QR 223.74 billion. The preliminary Real GDP estimate for the year 2011 at 360.04 billion Qatari Riyal shows a rise of 14% over the estimate of QR 315.75 billion, recorded in the year 2010. The constant price GVA of the Mining and Quarrying Sector in the year 2011 has been estimated at 145.82 billion Qatari Riyal, which shows an increase of 15.7% over the estimate of year 2010 placed at QR126.03 billion. The GVA estimate of Non-Mining and Quarrying Sectors in the year 2011 totaled 214.22 billion Qatari Riyal, which shows an increase of 12.9% over the estimate of year 2010 placed at QR 189.72 billion. The quarterly GDP in the Q4 of 2011at current prices is estimated at QR 171.78 billion, an increase of 35.9% compared to the estimate of Q4 of 2010 placed at QR126.44 billion. The increase was 4.2% When compared to third quarter of 2011 estimates of QR 164.82 billion. In Q4 of 2011, the GVA for the Mining and Quarrying sector was estimated at QR 96.11 billion, which represents an increase of 41.9%, compared to estimate of Q4 of 2010, a sum of QR67.71 billion. The sum showed a fall of 1.7% compared to the level of QR 99.74 billion estimated in the previous quarter of 2011. The GVA of Manufacturing sector was estimated at QR15.38 billion in Q4 of 2011 showing a rise of 15.6% over the corresponding quarter of 2010, which recorded 13.31 billion. However, compared to the previous quarter (Q3 of 2011), there has been a decline of 5.2% in the GVA of this sector. QTA explained the decline and said in their statement that the "slowdown in the manufacturing activity in few products such as Refined Petroleum products (-9.8%), Steel (-5.9%) broadly explain the decline in GVA of this sector." The GVA of the Construction sector were at QR5.77 billion in the fourth Quarter of 2011 showed a marginal decline of 1% when compared to the corresponding quarter of 2010, which recorded QR5.83 billion in Q4 of 2010. The GVA of the Trade, Hotel and Restaurants sector were estimated at QR9.52 billion in Q4 of 2011, registering an increase of 7.2% compared to 2010's fourth quarter and a 5.6% rose compared to the previous quarter (Q3 of 2011). The contribution of the Government Services, which included the provision of public health, education and other miscellaneous services, was estimated at QR 16.49 billion in Q4 of 2011. The figure was 71.3% higher than the estimate of Q4 of 2010, and 38.3% higher than the previous quarter (Q3 of 2011). The statement said that "the high rise in the level of Q4, 2011 GVA has the clear reflection of salary increase for Qatari Government employees, implemented with effect from 1st September, 2011." The quarterly GDP in the Q4 of 2011, at constant prices were estimated at QR95.51 billion, which reflected an increase of 14.7% compared to the estimate of Q4 of 2010 at QR83.29 billion. Compared to the previous quarter Q3 of 2011 estimate of QR91.48 billion, the increase were 4.4%. The estimates were based on the volume index based on 2004 prices, QSA said in their statement. In Q4 of 2011, the GVA for the Mining and Quarrying sector is estimated at QR36.67 billion, which represents an increase of 8.1%, compared to estimate of Q4 of 2010, which recorded a sum of QR33.91 billion. However, it shows a fall of 1.8% compared to the level of QR37.34 billion estimated in the previous quarter of this year Q3 of 2011. The GVA of "Manufacturing" sector is estimated at QR6.77 billion in Q4 of 2011 showing a marginal decline of 0.8% over the corresponding quarter of 2010, which recorded QR6.82 billion. Compared to the previous quarter (Q3 of 2011), the decline is sharper, at 3.2% in the GVA of this sector. The GVA of the Construction sector was at QR5.18 billion in the fourth quarter of 2011. The figure represented a decline of 2.7% when compared to the corresponding quarter of 2010, worth QR5.33 billion in Q4 of 2010. However, the construction activity in Q4, 2011 shows a rise of 6.8% when compared to Q3, 2011, in line with the seasonality effect noticed in this period of the year. (QNA)