• Nominal GDP [GDP at current prices] estimate of Q1, 2014 [192,383 Mn QR] over Q1, 2013 GDP estimate [187,460 Mn QR] ↑2.6%. • Real GDP [GDP at constant (2004) prices] growth] ↑6.2% in the Q1, 2014 over Q1, 2013 GDP estimate.  Ministry of Development Planning and Statistics (MDPS) have released the preliminary estimates of Gross Domestic Product (GDP) at current and constant prices for the first quarter (Q1) of 2014. The estimates have been produced by using the data collected through the Quarterly Economic Indicator Survey and from other source agencies. Q1, 2014 Nominal & Real GDP Estimates The quarterly GDP at current prices in the Q1 of 2014 is estimated at 192.38 Bn QR. This represents an increase of 2.6% compared to the estimate of Q1 of 2013 placed at 187.46 Bn QR. When compared to previous quarter [Q4 of 2013] estimate of 188.44 Bn QR, an increase of 2.1% has been noticed. The quarterly GDP in the Q1 of 2014, at constant (2004) prices [94.74 Bn QR] shows a growth of 6.2% compared to the estimate of Q1 of 2013 [89.24 Bn QR]. However, compared to the previous quarter [Q4 of 2013] estimate of 92.66 Bn QR, the growth in this quarter is 2.3%. Mining and Quarrying (including Oil and Gas)  The nominal Gross Value Added (GVA) estimate of this sector in the Q1, 2014 has been 102.62 Bn QR, which shows a decline of 4.5% over the estimate of Q1, 2013, placed at 107.50 Bn QR. However, compared to the previous quarter (Q4 of 2013) estimate, there has been a rise of 2.9% in the GVA of this sector. The real GVA of this sector in Q1, 2014 [36.99 Bn QR], shows a decline of 1.2% over the estimate of Q1, 2013 [37.45 Bn QR]. The receding crude oil production and the flat full capacity gas production primarily explain the decline in this sector. Besides this, reduction in international price levels of crude oil in this quarter has led to even sharper decline in nominal GVA of this sector.  For more details