(MENAFN- Qatar News Agency) Qatar Statistics Authority (QSA) has estimated the quarterly Gross Domestic Product (GDP) in the Q1 of 2012, at current prices, at QR 176.07 billion, a QSA statement said.
This, it said, represents an increase of 24.8% compared to the estimate of Q1 of 2011 placed at QR 141.06 billion. When compared to previous quarter's Q4 of 2011 estimates of 169.30 billion Qatari Riyal, the increase is 4.0%. Besides the Oil and Gas Sector, Manufacturing and the Government Sector have given considerable push to the nominal GDP of the country (24.8% rise).
The QSA said that the preliminary estimates have been produced using the data collected through the Quarterly Economic Indicator Survey and from other source agencies.
An analysis by "Mining & Quarrying" and "Non-Mining & Quarrying"Sectors: Gross Value Added (GVA) for Mining & Quarrying Sector for Q1, 2012 is estimated at QR 105.46 billion, which shows an increase of 30.0% over the estimate of Q1 2011 placed at QR 81.12 billion. Non-Mining & Quarrying Sectors have been estimated at QR 70.62 billion for Q1 2012, showing an increase of 17.8% over the estimate of Q1 2011.
In Q1 of 2012, the GVA for the "Mining and Quarrying" totaled 105.46 billion Qatari Riyal, showing an increase of 9.7%, over the previous quarter Q4 of 2011 96.11 billion Qatari Riyal . This increase in nominal terms is mainly explained by higher prices of oil and gas.
The GVA of "Manufacturing" is estimated at 17.11 billion Qatari Riyal in Q1 2012 showing a rise of 21.0% over the corresponding quarter of 2011 14.14 billion Qatari Riyal . Compared to the previous quarter (Q4 2011), there has been an increase of 11.2% in the GVA of this industry group.
The GVA of the "Construction" reached 6.51 billion Qatari Riyal in Q1 of 2012 increasing by 6.8% when compared to the corresponding quarter of 2011 6.10 billion Qatari Riyal in Q1 2011 and 12.9% over the previous quarter.
The GVA of the "Trade, Hotel and Restaurants" is estimated at 9.17 billion Qatari Riyal in Q1 2012 registering an increase of 12.5% over the corresponding quarter of 2011 8.15 billion Qatari Riyal in Q1 2011 . Compared to the previous quarter (Q4 2011), there has however been a decline of 3.7%.
The "Transport and Communication" sector generated a value added of 5.50 billion Qatari Riyal in Q1 2012 against 4.97 billion Qatari Riyal in Q1 2011 showing a rise of 10.8%. Compared to the previous quarter, Q4 2011, a slowdown of 1.5% has been noted.
For "Finance, Insurance, Real Estate & Business Services", the GVA is estimated at 16.77 billion Qatari Riyal in Q1 2012, showing an increase of 5.0% when compared to the corresponding quarter (Q1 2011) estimate of 15.97 billion Qatari Riyal. However, compared to the previous quarter, Q4 2011,a sharp fall of 25.8% has been recorded in this group, as a result of a reduction in the spread of commercial banks, mainly explained by higher interest rate on deposits and lower interest rate on loans.
The contribution of the Government Sector which includes the provision of public health, education and other miscellaneous services is 14.76 billion Qatari Riyal in Q1 2012. This represents a 45.0% increase 10.18 billion Qatari Riyal over Q1 2011, which is primarily attributable to the salary hike for Qatari Government employees, implemented with effect from 1st September, 2011.
The quarterly GDP in the Q1 2012, at constant prices, is estimated at 82.09 billion Qatari Riyal, which shows a growth of 6.9% compared to the estimate of Q1 2011 at 76.80 billion Qatari Riyal. However, compared to the previous quarter Q4 2011 estimate of 79.73 billion Qatari Riyal, the growth was 3.0%.
"Mining & Quarrying" in Q1 2012 has been estimated at 36.89 billion Qatari Riyal, which shows a growth of 4.6% over the corresponding quarter of 2011. Compared to the previous quarter (Q4 2011), a marginal growth of 0.6% was registered. For the "Non-Mining & Quarrying" sector, GVA in Q1 2012 totaled 45.21 billion Qatari Riyal, which shows a growth of 8.8% over the corresponding quarter of 2011.
The GVA of "Mining and Quarrying", which is estimated at 36.89 billion Qatari Riyal in Q1, 2012 grew by 4.6% over the corresponding quarter of 2011 36.67 billion Qatari Riyal and compared to the previous quarter (Q4 2011), the growth was 0.6%.
The GVA of "Manufacturing" reached 7.04 billion Qatari Riyal in Q1 2012 showing a growth of 4.3% over the corresponding quarter of 2011 6.75 billion Qatari Riyal . Compared to the previous quarter (Q4 2011), a growth of 4.0% was registered.
The GVA of "Construction" estimated at 8.16 billion Qatari Riyal in Q1 2012 shows a growth of 6.1% when compared to the corresponding quarter of 2011 7.69 billion Qatari Riyal in Q1 of 2011 . However, when compared to Q4 2011, in volume terms, a high rise of 21.9% is noted.
The GVA of the "Trade, Hotel and Restaurants" is estimated at 6.50 billion Qatari Riyal in Q1 2012 registering a growth of 11.4% over the corresponding quarter of 2011 5.83 billion Qatari Riyal in Q1 2011 , but a decline of 1.3% when compared with the previous quarter (Q4 2011).
The "Transport and Communication" GVA at constant prices is 5.52 billion Qatari Riyal for Q1, 2012, against 4.90 billion Qatari Riyal for Q1, 2011 showing a rise in volume of 12.7, but compared to the previous quarter (Q4 2011), the growth was up by only 1.5%.
For "Finance, Insurance, Real Estate & Business Services", the GVA reached 8.82 billion Qatari Riyal in Q1 2012, growing by 7.2% over the corresponding quarter 2011. Compared to the previous quarter the growth was 4.0%.
The contribution of the "Government Sector" is estimated at 8.68 billion Qatari Riyal in Q1 of 2012, representing a volume increase of 13.9% over Q1 2011 and,1.2% in comparison with the previous quarter.
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