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The Statistics Department of the Planning Council released GDP estimates of the third quarter 2006, classified by economic activities. The estimates indicates an increase in the GDP during the third quarter of 2006, reaching QR 51 billion against QR 48 and 45 billion during the second and first quarters of 2006, respectively. GDP during third quarter grew by 6.3% in comparison with the second quarter of the same year, against 6.1% growth rate between second and first quarters of the same year.
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The growth rate during third
quarter, 2006 compared to the same period of 2005 was approximately
29.2%, against 31.0% during second quarter 2006 in comparison with
same period of 2005.
Mining and Quarrying (comprising extraction of oil and gas) deemed
to be the leading activity, contributing QR 32.6 billion, a relative
importance of 64% of total GDP during the third quarter of 2006,
against QR 23.9 billion during the third quarter of 2005, with
relative importance of 61% of total GDP, with a growth rate of 36.2%
during this period. Mining and Quarrying activities grew by 7.4%
during the third quarter in comparison with second quarter of the
same year.
Excluding oil and gas activities, GDP estimates reached QR 18.5
billion during the third quarter of 2006 compared to QR 17.7 billion
during second quarter of the same year, and QR 15.4 billions during
third quarter of 2005. GDP(excluding oil and gas) grew by 4.4%
during third quarter 2006 in comparison with second quarter of the
same year. 20% was the growth change between third quarter 2006 and
the same period of 2005.
The contribution of Government Services to the total GDP reached QR
4.5 billion during the third quarter of 2006, i.e. 8.8% of the GDP,
against QR 4.1 billion during second quarter with approximate growth
rate of 9.4%. Government Services witnessed a growth rate of 44% in
comparison with the same period of 2005.
Next comes Finance, Insurance, Real Estate and Business Services
activity, contributing QR 4.0 billion to the GDP during third
quarter of 2006, against QR 3.9 billion during second quarter of the
same year, a growth rate of 3.8%. Comparing the contribution of
Finance, Insurance, Real Estate and Business Services during third
quarter 2006 (QR 4.0 billion) with the same quarter 2005 (QR 3.4
billion), the growth rate reaches 16.9%.
As mentioned earlier, Mining and Quarrying industry is the leading
activity contributing 64.0% of the total GDP generated during the
third quarter 2006, compared with 60.8% during the same period of
2005. Ranking next is the Government Services, contributing 8.8%
during third quarter of 2006 against 7.9% during the same period of
2005.
Finance, insurance, Real Estate and Business Services comes at third
rank, with a contribution of 7.8% during third quarter of 2006,
against 8.7% during the same period of 2005.
Manufacturing industry comes at fourth rank with a contribution of
6.9% during third quarter of 2006, against 8.3% for the same quarter
2005, despite the increase in its value from QR 3.3 billion, during
third quarter of 2005, to QR 3.5 billion during same period 2006.
Custom duties jumped from QR 318 million during third quarter 2005
to QR 497 million during same period 2006. This is due to the
increase of imports during 2006.
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