(MENAFN- The Peninsula) The Peninsula
Qatar's real Gross Domestic Product (GDP) at constant prices has witnessed a growth of 2.5 percent in the first quarter (Q1) of 2017 compared to same quarter previous year, said the preliminary estimates of GDP released yesterday by the Ministry of Development Planning and Statistics (MDPS).
The quarterly GDP in the Q1 this year, at constant 2013 prices stood at QR197.70bn compared to the estimate of QR192.97bn in Q1 of 2016. However, compared to the previous quarter (Q4 of 2016) revised estimate of QR200.69bn, a decrease of 1.5% is noticed. The report noted that Q4 2016 year-on-year growth rate for quarterly GDP at constant 2013 prices has remained at 1.7% after revision.
The total value of exports from the country has been estimated at QR74.75bn in Q1 of 2017 as against QR64.66bn in Q1, 2016, showing an increase of 15.6%. This Y-o-Y rise in the value of exports during Q1, 2017 is due to increases in the exports of goods by 17.7%, and the exports of services by 8.1%
The percentage share of exports in nominal GDP during Q1, 2017 has been estimated at 49.5%. The corresponding shares for Q1, 2016 and Q4, 2016 exports in GDP have been 49.1% and 47.9% respectively.
The total value of imports in the country has been estimated at QR 58.49bn in Q1 of 2017 as against QR59.22bn recorded in Q1, 2016, showing an Y-o-Y decrease of 1.2%. The Q1, 2017 Y-o-Y decrease in the imports is due to a decrease in the imports of goods by 4.4%, while the imports of services increased by 2.3%The percentage share of imports in nominal GDP during Q1, 2017 has been estimated at 38.7%. The corresponding shares for Q1,2016 and Q4, 2016 have been 44.9% and 39.6% respectively.
The nominal Gross Value Added (GVA) estimate of the Mining and Quarrying sector in the Q1, 2017 has been QR50.17bn, showing an increase of 32.6% over the estimate of Q1, 2016, placed at QR37.84bn. Compared to the previous quarter (Q4 of 2016) revised estimate, there has been a rise of 8.2% in the GVA of this sector.
The real GVA of this sector in the Q1, 2017 (QR96.21bn) has remained virtually unchanged when compared to the estimate of Q1, 2016 (QR96.21bn).
The nominal GVA estimate of Non-Mining and Quarrying sectors in the Q1, 2017 has been placed at QR100.78bn, which shows an increase of 7.3% over the estimate of Q1, 2016 (QR93.96bn). Compared to the previous quarter (Q4 of 2016) revised estimate, an increase of 0.1% has been recorded. The real GVA of these sectors in Q1, 2017, totaled QR101.49bn, which shows a growth of 4.9% over the corresponding quarter in 2016 (Q1, 2016) GVA estimate, QR96.76bn.
The nominal GVA estimate of the construction placed at QR19bn in Q1, 2017 shows an increase of 17.7% when compared to the estimate of corresponding quarter of Q1 2016 (QR16.14bn). However, compared to the previous quarter (Q4 of 2016) revised estimate, an increase of 11.7% is noticed.
Transport and Storage sector generated a nominal value added of QR4.75bn in Q1, 2017 against QR4.55bn in Q1, 2016 showing a rise of 4.5%.
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