The Planning and Statistics Authority (PSA) have released the preliminary estimates of Gross Domestic Product (GDP) at current and constant prices for the third quarter (Q3) of 2020. The estimates have been produced with data collected through the Quarterly Economic Indicator Survey and from other source agencies.
This press release presents the estimates of GDP for the third quarter of 2020 and compares it with the GDP estimates for the third quarter of 2019 as well as the revised estimates for the second quarter of 2020.
Covid-19 and Q3 2020 GDP estimates
Q3 2020 is characterized by the gradual loosening of the quarantine restrictions imposed by the Covid-19 pandemic.
Although the quarantine imposes challenges for statistical work, data collection for Q3 2020 GDP estimates was done as usual. PSA is thankful to all data providers for their commitment and cooperation.
HIGHLIGHTS
- Gross Domestic Product at current prices (Nominal GDP) decrease by 19.9% in the third quarter of 2020 over the third quarter of 2019.
- Gross Domestic Product at constant prices Real GDP, )2018=100) decrease by 4.5% in the third quarter of 2020, (year on year).
- Gross Value Added at constant 2018 prices for Mining and Quarrying activities decrease by 3.6% in the third quarter of 2020 compared to the same quarter in 2019.
- Gross Value Added at constant 2018 prices for Non-Mining and Quarrying activities decrease by 5.0% in the third quarter of 2020, year on year.
Third Quarter 2020 Nominal and Real GDP Estimates
The quarterly GDP at current prices in Q3 of 2020 is estimated at) QR 127.84 billion). This represents a decrease of 19.9% compared to the estimate of Q3 of 2019 placed at (QR 159.56 billion). When compared to previous quarter Q2 of 2020 revised estimate of (QR 116.69 billion), an increase of 9.6% is recorded.
The quarterly GDP at constant prices (2018=100) shows a decrease of 4.5% in Q3 of 2020 (QR 164.02 billion) compared to the estimate of Q3 of 2019 (QR 174.66 billion). When compared to Q2 of 2020 revised estimate (QR 155.30 billion), an increase of 5.6% is also recorded.
Mining and Quarrying Activities
The nominal Gross Value Added (GVA) estimate of Mining and Quarrying activities is estimated at (QR 33.70 billion) in Q3 2020, which shows a decrease of 40.5% over the estimate of Q3 2019 placed at (QR 56.65 billion). Compared to the previous quarter Q2 2020 revised estimate (QR 28.36 billion), an increase of 18.8% in the GVA of this sector is recorded.
The real GVA of these activities is estimated at (QR 63.01 billion) in Q3 2020, which shows a decrease of 3.6% compared to the estimate of Q3 2019 (QR 65.38 billion). Compared to Q2 2020 revised estimate (QR 62.60 billion), an increase of 0.7% in the real GVA of this sector is also recorded.
Non-Mining and Quarrying Activities
The nominal GVA estimate of Non-Mining and Quarrying activities is estimated at (QR 94.15 billion) in Q3 2020, which shows a decrease of 8.5% over the estimate of Q3 2019 (QR 102.90 billion). Compared to the previous quarter revised estimate of Q2 2020 (QR 88.33 billion), an increase of 6.6% is recorded.
The real GVA of Non-Mining and Quarrying activities is estimated at (QR 101.00 billion) in Q3 2020, which shows a decrease of 5.0% over the estimate of the corresponding quarter in 2019 Q3 (QR 106.28 billion). When compared to the Q2 2020 revised estimate (QR 92.70 billion), an increase of 9.0% is also recorded.
