(MENAFN- The Peninsula) Quarterly estimates of Qatar's Gross National Income (GNI at current prices) for the Q1, 2014 is placed at QR183.58bn ($50.41bn) witnessing an increase of 3.2 percent compared to the GNI estimate of QR177.95bn ($48.87bn) in Q1, 2013, according to an official data released by the Ministry of Development Planning and Statistics.
GNI, also termed as Gross National Product (GNP), is derived by adding net factor income from abroad (NFIA) to Gross Domestic Product (GDP). Where as the NFIA is the difference between incomes paid to the rest of the world and incomes received from rest of the world (from all sources, including income form properties).
Since the net outflow of property income from Qatar has shown a decline of 7.4 percent, this has led to the rise in the National income (year-on-year basis) of 3.2 percent as against the GDP rise of 2.6 percent in GDP in Q1 2014 over Q1, 2013. On quarter-on-quarter basis, GNI in Q1, 2014 has gone up by 4 percent compared to the GNI of Q1, 2013.
The comparable rise in GDP has been 2.1 percent during the same period.
The higher rise in GNI in comparison to GDP increase is due to the sharper fall of 26.9 percent noticed in net property income from the rest of the world in Q1, 2014 over Q4, 2013.
Qatar, as part of its commitment to implement the relevant recommendations of 2008 System of National Accounts (SNA), an internationally agreed standard, which inter-alia targets the release of quarterly sequence of integrated economic accounts providing estimates of National Income, Saving, Expenditure and other accounting details of the country at quarterly interval.
The Ministry, within the available source data, for the first time, from this quarter has started releasing estimates of key quarterly sequence of accounts for the total economy at current prices.
The gross saving of the nation, which is difference of gross disposable national income and the final consumption expenditure (both GFCE and HFCE), is estimated at QR116.89bn in Q1, 2014 as against QR118.03bn recorded in Q1, 2013, showing a fall of one percent in the first quarter of 2014. The Household Final Consumption Expenditure (HFCE) in Q1, 2014 is estimated at QR26.50bn as against QR24.83bn in the same quarter in 2013, showing an increase of 6.7 percent.
According to the Ministry, rising population in the country has been the prime cause of such a rise. The percentage share s of HFCE in the GDP in the Q1 of 201 3 and 2014 are estimated at 13.2 percent and 13.8 percent respectively.
Government Final Consumption Expenditure (GFCE) in Q1, 2014 has been estimated at QR24.98bn as against QR23.74bn in Q1 of 2013, showing a rise of 5.2 percent.
The percentage share of GFCE in nominal GDP during Q1, 2013 and Q1, 2014 have been estimated at 12.7 percent and 13 percent, respectively.
Gross Capital Formation (GCF), also commonly termed as Gross Investment, has been estimated at QR54.24bn in Q1, 2014 against QR50.19bn in Q1, 2013, showing an increase of 8.1 percent.
The percentage share of GCF in nominal GDP during Q1, 2013 and Q1, 2014 have been estimated at 2 6.8 percent and 2.82 percent, respectively.
The total value of exports of goods and services (including re-exports) from the country is placed at QR146.03bn in Q1 of 2014 as against QR141.15bn in Q1 2013, showing an increase of 3.5 percent.
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