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The quarterly GDP in the Q3 of 2011, at current prices, is estimated
at 164.82 billion Qatari Riyals. This represents an increase of
39.5% compared to the estimate of Q3 of 2010 valued at 118.17
billion Qatari Riyals. When compared to previous quarter [Q2 of
2011] estimates of 153.73 billion Qatari Riyals, the increase is
7.2%. The increase in quarterly GDP [both year-on-year as well as
quarter-on quarter basis] has been driven mainly by expansion in the
production levels of LNG, Pipeline gas, other gas-related products
and condensates, coupled with increases in hydrocarbon prices.
An analysis by industry group, comparing the performance in Q3 of
2011 with the corresponding quarter in 2010 [Year-on-Year Basis] and
with the second quarter (Q2) of 2011 is given in the following
paragraphs. Readers are advised to keep the seasonality factor in
view, while comparing the estimates with the preceding quarter.
In Q3 of 2011, the Gross Value Added (GVA) for the Mining and
Quarrying sector is estimated at 97.74 billion Qatari Riyal, which
represents an increase of 56.7%, compared to the estimate of Q3 of
2010 [62.38 billion Qatari Riyals]. It shows a rise of 9.2% compared
to the level of 89.49 billion Qatari Riyals estimated for the
previous quarter of this year (Q2 of 2011). Qatar’s production and
exports impelled by LNG expansion and higher oil and gas prices
contributed to this rise in the value addition from this sector.
The GVA of Manufacturing sector is estimated at 16.24 billion Qatari
Riyals in Q3 of 2011 showing rise of 36.6% over the corresponding
quarter of 2010 [11.89 billion Qatari Riyals in Q3 of 2010]. The
expansion in the gas extraction has led to higher production of some
downstream gas-related products, in particular Gas to Liquids (GTL).
On year-on-year basis, Petrochemicals, Steel and Fertilizers also
showed buoyancy in Q3, 2011.
However, compared to the previous quarter (Q2 of 2011), there has
been a decline of 4.1% in the GVA of Manufacturing sector. Slowdown
in the manufacturing activity in few products like Steel (-4.9%),
Fertilizers (-1.7%), Petrochemicals (-0.6%), Refined Petroleum
products (-0.5%) coupled with price fall, seen from the Producer
Price indices [Q3 2011 over Q2, 2011, released by QSA on 27-12-2011]
in respect of Refined Petroleum Products (-4.4%), Basic Chemicals
(-4.4%) etc. explain the decline in GVA of this sector.
The GVA of the Construction sector at 5.36 billion Qatari Riyals in
Q3 of 2011 remains more or less at the level of the corresponding
quarter of 2010 [5.32 billion Qatari Riyals in Q3 of 2010]. However,
the construction activity in Q3, 2011 shows a decline of 12.2% when
compared to Q2, 2011 which is to be seen in the light of seasonality
factor.
The GVA of the Trade, Hotel and Restaurants sector is estimated at
9.0 billion Qatari Riyals in Q3 of 2011 registering an increase of
12.8% over the corresponding quarter of 2010 [7.99 billion Qatari
Riyals in Q3 of 2010]. Compared to the previous quarter (Q2 of
2011), there has been a rise of 9.3%.
The Transport and Communication sector generated a value added of
5.92 billion Qatari Riyals in Q3, 2011 against 4.99 billion Qatari
Riyals in Q3, 2010 showing a rise of 18.7%. Compared to the previous
quarter, Q2 of 2011, the increase was 15.8%.
As for Finance, Insurance, Real Estate & Business Services, the GVA
is estimated at 18.34 billion Qatari Riyals in Q3 of 2011, showing
an increase of 12.4% when compared to the corresponding quarter (Q3)
estimate of 16.32 billion Qatari Riyals in 2010. Compared to the
previous quarter, Q2 of 2011, there was an increase of 11.2%.
The contribution of the Government Services which includes the
provision of public health, education and other miscellaneous
services is estimated at 11.92 billion Qatari Riyals in Q3 of 2011,
which is 34.9% higher than the estimate of Q3 of 2010, and 11.9%
higher than the previous quarter (Q2 of 2011). The high rise in the
level of Q3, 2011 GVA has the partial reflection of salary increase
for Qatari Government employees, implemented with effect from 1st
September, 2011.
For more details about Quarterly GDP please refer to
QALAM:
www.qix.gov.qa
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Estimates of Quarterly Gross Domestic Product by economic activities at current prices
2011 Third Quarter |
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