Qatar Economy Growth Stands to 39.5% in Q3,2011

Doha, December 28 (QNA) - Qatar Statistics Authority (QSA) released that has registered a growth of 39.5 % in the third quarter of 2011 compared to last year figures. The GDP figures were QR 164.82 billion in the Q3 compared to QR.118.17 billion in the same period of last year whereas the growth percentage was 7.2. % in the second quarter with estimates of QR.153.73 billion. Qatar Statistics Authority (QSA) has released the Producer Price Index (PPI) for the third quarter (Q3) of 2011 for the Industrial sector. The Industrial sector covers Mining, Electricity and Water and Manufacturing. The PPI for Q3, 2011 stood at 165.0 (2006=100) showing a rise of 0.6% when compared to the PPI of the second quarter, 2011. This increase of PPI of Q3, 2011 was 43.5% when compared to the PPI of Q3, 2010. The increase of 0.6% in PPI of Q3 2011 over the previous quarter Q2, 2011 is primarily the combined result of higher prices recorded in Mining: 1.5% , electricity and water: 0.9% and a decline of 3.2% in the manufacturing sector. The increase of 43.5% in the year-on-year comparison (Q3, 2011 over Q3, 2010) can be attributed to increases in Mining 47.3% and in Manufacturing 33.0%. The report showcased in Mining, the 1.5% rise in PPI of Q3, 2011 over Q2, 2011, is mainly explained by higher prices in Natural gas based on overall prices reported by the source agencies at 12.0% and a price decrease of the following: condensate produced by oil extraction (3.6%); condensate produced by gas extraction (3.3%); and crude oil (2.7%). Comparing the PPI of Q3 2011 to the corresponding quarter of 2010, the increase of 47.3% is mainly due to the price hike of Crude oil: 46.8%, Natural gas: 47.9%, condensate produced by the oil extraction: 43.6%, and condensate produced by the gas extraction: 47.8%. Electricity & water group PPI of Q3, 2011 showed a marginal increase of 0.9% when compared to PPI of Q2, 2011 and 0.1% when compared to PPI of Q3, 2010. Manufacturing group PPI decreased by 3.2% in Q3, 2011 when compared to the index of Q2, 2011. While the prices of refined petroleum products and basic chemicals products decreased by 4.4%; and cement and glass products by 0.5%, price hikes were reported in the metal products group by 6.4%; and in beverages group by 2.2%. Comparing the position of Manufacturing group PPI of Q3, 2011 to the corresponding index of Q3, 2010, the increase was 33.0%. While refined petroleum products prices went up by 42.7% and basic chemicals by 37.4%; the producer price of cement and glass products maintained a decline at 5.9 %. (QNA)