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Qatar’s GDP estimates increase by 4.1 per cent in Q3, 2014

Compared to the previous quarter (Q2, 2014) estimate, a growth of 1.3 per cent has been seen in this quarter

Qatar’s GDP at current and constant prices for the third quarter (Q3) of 2014 is estimated at QR193.08 billion, according to the Ministry of Development Planning and Statistics (MDPS).

This represents an increase of 4.1 per cent compared to the estimate of Q3, 2013 placed at QR185.43bn.

The quarterly GDP in Q3, 2014, at constant (2004) prices (QR97.51bn) has registered a year on year growth of 6.0 per cent over the estimate of Q3, 2013 (QR91.98bn).

This represents a growth of 3.9 per cent compared to the previous quarter (Q2, 2014) estimate of QR93.8 6bn.

The nominal gross value added (GVA) estimate of mining and quarrying (including the oil and gas) sector in Q3, 2014 has been QR95.26bn, which shows a decline of 4.3 per cent over the estimate of Q3, 2013, placed at QR99.53bn, MDPS says.

Compared to the previous quarter (Q2, 2014) estimate, there has been a decline of 1.5 per cent in the GVA of this sector.

MDPS says the real GVA of this sector in Q3, 2014 (QR36.33bn), shows a fall of 2.8 per cent over the estimate of Q3, 2013 (QR37.38bn).

However, compared to the previous quarter (Q2, 2014) estimate, a growth of 1.3 per cent has been seen in this quarter.

The receding crude oil production and some maintenance shutdowns in gas plants primarily explain the year-on-year fall in the production volume of this sector.

Also, the reduction in international price levels of crude oil and gases in this quarter has led to a sharper decline in nominal GVA of this sector.