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Qatar's GDP (at Current Prices) Reaches (192) Billion in 2006

The Statistics Department of the Planning Council's General Secretariat released preliminary estimates of the Gross Domestic Product (GDP) by economic activity for the State of Qatar, for the year 2006. The Qatari Economy Continued its intensive growth which has been achieved in the preceding years. GDP growth rate was estimated as 24% in 2006.

Estimates indicates that GDP, at current prices, has risen to QR (191909) million in comparison to QR (154564) million in 2005, i.e. an increase of QR (36345) million, approximately.

he relative importance of the Mining & Quarrying sector (comprising extraction of oil and gas) witnessed an increase from 59% in 2005 to 62% in 2006, since it reached a value of QR (118707) million compared to QR (92071) million in 2005, with a growth rate of 29% in relation to previous year.

 This is mainly due to the increase in oil prices and the expansion in natured gas production. Despite the fine growth achieved by non-oil sectors, reaching a growth rate of 16.6% in relation to 2005, and with a value of QR. (73202) million in 2006, i.e. an increase of QR. (10457) million, yet this growth was not reflected on its relative contribution in the GDP, since it witnessed a decline from 41% in 2005 to 38% in 2006.

 This is due to the fact that increase in relative contribution of the oil & gas sector was greater than non-oil sectors. Government services contribution in the GDP comes with the biggest share in terms of relative importance in non-oil sectors, since it reached 9.3% followed by finance banking and real estate activities with 8.2%, manufacturing sector with 7.4%, with values of QR. (17928, 15760 and 14098) million respectively.

Table of Preliminary estimates of 2006 Gross Domestic Product of the State of Qatar for the fourth quarter