(MENAFN- Qatar News Agency) Ha July 15 (QNA) - The quarterly estimates of Gross National Income (GNI) for the Q1 2014 is placed at QR183.58 Billion which shows an increase of 3.2% when compared to the GNI estimate of Q1 2013 (QR177.95 Billion ). The net outflow of property income from Qatar has shown a decline of 7.4%.
That has led to the rise in the National income on year on year basis of 3.2% as against the GDP rise of 2.6% in GDP in Q1 2014 over Q1 2013. On quarter-on-quarter basis GNI in Q1 2014 has gone up by 4% when compared to the GNI of Q1 2013. The comparable rise in GDP has been 2.1% during the same period. The higher rise in GNI comparison to GDP increase is due to the sharper fall of 26.9% noticed in net property income from the rest of the world in Q1 2014 over Q4 2013 according to the Ministry of Development Planning and Statistics Press release today.
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 QR116.89 Billion in Q1 2014 as against QR118.03 Billion recorded in Q1 2013 showing a fall of 1% in the first quarter of 2014.
The Household final consumption expenditure (HFCE) consists of expenditure incurred by resident households on consumption goods or services.
However HFCE excludes expenditure on fixed assets in the form of dwellings or on valuables as these relate to Gross capital formation. The Q1 2014 HFCE is estimated at QR26.50 Billion as against QR24.83 Billion in Q1 2013 showing an increase of 6.7%. Rising population in the country has been the prime cause of such a rise. The percentage shares of HFCE in the GDP in the Q1 of 2013 and 2014 are estimated at 13.2% and 13.8% respectively.
Government Final Consumption Expenditure (GFCE) in Q1 2014 has been estimated at 24.98 Billion QR as against 23.74 Billion QR in Q1 of 2013 showing a rise of 5.2%. The percentage share of GFCE in nominal GDP during Q1 2013 and Q1 2014 have been estimated at 12.7% and 13.0% respectively.
Gross Capital Formation (GCF) also commonly termed as Gross Investment a sum of Gross Fixed Capital Formation (which includes mainly the investments on construction plants & machinery and valuables) and change in stocks has been estimated at QR54.24 Billion in Q1 of 2014 as against QR50.19 Billion in Q1 2013 showing an increase of 8.1%. The percentage share of GCF in nominal GDP during Q1 2013 and Q1 2014 have been estimated at 26.8% and 2.82% respectively.
The total value of exports from the country is placed at 146.03 Billion QR in Q1 of 2014 as against QR141.15 Billion in Q1 2013 showing an increase of 3.5%. This Y-o-Y increase in the Q1 2014 was mainly driven by the rising exports of Chemicals & related products Mineral fuels lubricants and related materials; besides increase seen in some of the services like travel and transportation. The share of exports in nominal GDP during Q1 2013 and Q1 2014 have been estimated at 75.3% and 75.9% respectively.
The total value of imports in the country is placed at QR59.37 Billion in Q1 of 2014 as against QR52.45 Billion in Q1 2013 showing an increase of 13.2%. This Y-o-Y jump in the imports is explained primarily by increases seen in the imports of Machinery and transport equipment Miscellaneous manufactured articles Food and live animals Chemicals and related products other Manufactured goods and travel and transportation services. The share of imports during Q1 2013 and Q1 2014 have been estimated at 28.0% and 30.9% respectively. (QNA)
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