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Qatar GDP Reaches QR 51 Billion During Second Quarter, 2007

The Bureau of Statistics released preliminary estimates of Qatar Gross Domestic Product (GDP) at current prices by kind of economic activity for the second quarter, April/June 2007. Estimates indicate that the GDP reached QR 50.7 Billion, compared with QR 48.0 Billion during corresponding quarter, April/June 2006, with a growth rate of 5.59 %, while it reached QR 44.7 Billion during the preceding quarter, January/March 2007, with a growth rate of 13.38 %.

The increase in the growth rates was due to the increase in the oil prices during this quarter ( April/June ) together with the increase in the growth rates of the majority of other economic activities. The contribution of Mining and Quarrying sector (which comprises extraction of oil and gas ) grew from 54 % during preceding quarter, January/March 2007, with a value of QR 24.2 Billion, to 61 % in second quarter, April/June 2007, with a value of QR 31.1 Billion. .

The majority of other non-oil activities achieved increases in their growth rates during the same period as a result of the increase in their value added. Finance, Insurance, Real Estate and Business Services came on top in terms of relative importance among non-oil sectors, where its contribution was 8.6 %, with a value of QR 4.3 Billion, followed by Government Services, with a contribution of 8.6 %, with a value of QR 4.3 Billion. In third place comes Manufacturing Industries with a contribution of 7.6 %, and a value of QR 3.8 Billion.

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