Qatar GDP Grows by 6.2% in Q1 of 2013

Doha, June 29 (QNA) - Qatar's quarterly Gross domestic product (GDP) in the Q1 of 2013, at constant prices (i.e. Price inflation adjusted GDP) is estimated at 88.41 billion Qatari Riyal which shows an increase of 6.2% compared to the estimate of Q1 of 2012 at 83.23 billion Qatari Riyal. However, compared to the previous quarter Q4 of 2012 estimate of 87.07 billion Qatari Riyal, there has been a growth of 1.6%, press release by the Ministry of Development Planning and Statistics said. "Mining and Quarrying Sector": The constant price GVA of this sector in Q1, 2013 has been estimated at 37.55 billion Qatari Riyal, which shows an increase of 0.8% over the estimate of Q1, 2012 placed at 37.25 billion Qatari Riyal. "Non-Mining and Quarrying Sectors": The GVA estimate of these sectors in Q1, 2013, totaled 50.86 billion Qatari Riyal, which shows an increase of 10.6% over the estimate of Q1, 2012 placed at 45.99 billion Qatari Riyal. Details of the sectoral level preliminary GVA estimates in Q1, 2013 over the previous quarter in 2012. An analysis by industry group, comparing the performance in Q1 of 2013 with the corresponding quarter in 2012 Year-on-Year Basis and with the fourth quarter (Q4) of 2012 is given in the following paragraphs. The GVA of "Manufacturing" sector is estimated at 8.31 billion Qatari Riyal in Q1, 2013 showing an increase of 12.5% over the corresponding quarter of 2012 7.38 billion Qatari Riyal. Compared to the previous quarter (Q4 of 2012), the growth of 1.6% has been seen in the GVA of this sector. The growth in this activity has resulted from the double digit rise in the production of Petrochemicals and Gas-to-Liquids (GTLs) products. The GVA of the "Construction" sector at 10.36 billion Qatari Riyal in Q1 of 2013 shows an increase of 11.7% when compared to the corresponding quarter of 2012 9.28 billion Qatari Riyal in Q1 of 2012. The construction activity in Q1, 2013 shows a rise of 6.3% when compared to the estimate in Q4, 2012 The GVA of the "Trade, Hotel and Restaurants" sector is estimated at 6.36 billion Qatari Riyal in Q1 of 2013 registering an increase of 10.5% over the corresponding quarter of 2012 5.76 billion Qatari Riyal in Q1 of 2012. However there has been a decline of 11% in the GVA of this group when compared with the previous quarter (Q4 of 2012) estimate of 7.15 billion Qatari Riyal. This fall is caused mainly by seasonality seen in the sales of goods. Besides this, the impact of high activity seen in the hotel and restaurant sector in Q4, 2012, while hosting major international conferences, shows a fall in GVA of Q1, 2013 when compared to previous quarter. The "Transport and Communication" sector generated a value added of 6.10 billion Qatari Riyal in Q1, 2013 against 5.66 billion Qatari Riyal in Q1, 2012 showing a rise of 7.9%. However, compared to the previous quarter (Q4 of 2012) the GVA estimate is up by 2.5%. For "Finance, Insurance, Real Estate & Business Services", the GVA is estimated at 10.1 billion Qatari Riyal in Q1 of 2013, showing an increase of 10.5% when compared to the corresponding quarter (Q1) estimate of 9.13 billion Qatari Riyal in 2012. Compared to the previous quarter (Q4 of 2012), there is an increase of 5.8% in the first quarter of 2013. The contribution of the "Government Services" which includes the provision of public health, education and other miscellaneous services is estimated at 9.56 billion Qatari Riyal in Q1 of 2013, which is 9.4% higher than the estimate of Q1 of 2012. Nominal GDP Estimates GDP at Current Prices The quarterly GDP in the Q1 of 2013 at current prices is estimated at 185.30 billion Qatari Riyal. This represents an increase of 6.1% compared to the estimate of Q1 of 2012 placed at 174.65 billion Qatari Riyal. When compared to previous quarter Q4 of 2012 estimates of 180.87 billion Qatari Riyal, the increase is 2.4%. "Mining and Quarrying Sector": The Gross Value Added (GVA) estimate of this sector in the Q1, 2013 is 106.76 billion Qatari Riyal, which shows an increase of 1.5% over the estimate of Q1, 2012 placed at 105.23 billion Qatari Riyal. The GVA of "Manufacturing" sector is estimated at 17.06 billion Qatari Riyal in Q1 of 2013 showing rise of 11.6% over the estimate of corresponding quarter of 2012 15.29 billion Qatari Riyal. Compared to the previous quarter (Q4 of 2012), there has been a decline of 12.3%, in the GVA of this sector, explained mainly by the falling prices of refined and petrochemical products in Q1, 2013. The GVA of the "Construction" sector at 9.13 billion Qatari Riyal in Q1 of 2013 is continuing the ascending trend with 19% increase when compared to the estimate of corresponding quarter of 2012 7.67 billion Qatari Riyal in Q1 of 2012. The turnaround in this sector has consolidated further showing a growth of 15.3% in Q1, 2013 over the GVA of Q4 of 2012. The GVA of the "Trade, Hotel and Restaurants" sector is estimated at 9.65 billion Qatari Riyal in Q1 of 2013 registering an increase of 13.2% over the estimate of corresponding quarter of 2012 8.52 billion Qatari Riyal in Q1 of 2012. Compared to the previous quarter (Q4 of 2012), there has however been a decline of 10.3% due to the seasonality and other factors explained in the discussion on Real GDP estimates of this group. The "Transport and Communication" sector generated a value added of 6.27 billion Qatari Riyal in Q1, 2013 against 5.78 billion Qatari Riyal in Q1, 2012 showing a rise of 8.5%. Compared to the previous quarter, Q4 of 2012, a rise of 4.5% in the GVA estimate has been noticed in this group. For "Finance, Insurance, Real Estate & Business Services", the GVA is estimated at 19.86 billion Qatari Riyal in Q1 of 2013, showing an increase of 8.4% when compared to the corresponding quarter (Q1) estimate of 18.33 billion Qatari Riyal in 2012. However compared to the previous quarter, Q4 of 2012, an increase of 6.7% has been noted in this group. The contribution of the "Government Services" is estimated at 16.55 billion Qatari Riyal in Q1 of 2013, which is 17.5% higher than the estimate 14.08 billion Qatari Riyal of Q1 of 2012. (END)