The Planning and Statistics Authority (PSA) have released the preliminary estimates of gross domestic product (GDP) at current and constant prices(2018=100) for the second quarter (Q2) of 2022. 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 second quarter of 2022 and compares it to the GDP estimates for the second quarter of 2021 and the revised estimates for the first quarter of 2022.
HIGHLIGHTS:
- Gross domestic product at current prices (nominal GDP) increased by 40.7% in the second quarter of 2022 over the second quarter of 2021.
- Gross domestic product at constant prices (real GDP, 2018=100) increased by 6.3% in the second quarter of 2022, year on year.
- Gross value added at constant 2018 prices for Mining and Quarrying activities increased by 1.2% in the second quarter of 2022 compared to the same quarter in 2021.
- Gross value added at constant 2018 prices for Non-Mining and Quarrying activities increased by 9.7% in the second quarter of 2022, year on year.
Second Quarter 2022 Nominal and Real GDP Estimates:
The quarterly GDP at current prices in Q2 of 2022 is estimated at QR 219.87 billion. This represents an increase of 40.7% compared to the estimate of Q2 of 2021 placed at QR 156.29 billion. When compared to previous quarter (Q1) of 2022 revised estimate of QR 197.17 billion, an increase of 11.5% is recorded.
The quarterly GDP at constant prices (2018=100) shows an increase of 6.3% in Q2 of 2022 (QR 171.97 billion) compared to the estimate of Q2 of 2021 (QR 161.71 billion). When compared to Q1 of 2022 revised estimate (QR 165.93 billion), an increase of 3.6% is also recorded.
Mining and Quarrying Activities:
The nominal gross value added (GVA) estimate of Mining and Quarrying activities is estimated at QR 98.09 billion in Q2 2022, which shows an increase of 70.6% over the estimate of Q2 2021 placed at QR 57.49 billion. Compared to the previous quarter Q1 2022 revised estimate (QR 83.99 billion), an increase of 16.8% in the GVA of this sector is recorded.
The real GVA of these activities is estimated at QR 63.88 billion in Q2 2022, which shows an increase of 1.2% compared to the estimate of Q2 2021 (QR 63.15 billion). Compared to Q1 2022 revised estimate (QR 61.73 billion), an increase of 3.5% in the real GVA of this sector is also recorded.
Non-Mining and Quarrying Activities:
The nominal GVA of Non-Mining and Quarrying activities is estimated at QR 121.78 billion in Q2 2022, which shows an increase of 23.3% over the estimate of Q2 2021 (QR 98.80 billion). Compared to the previous quarter Q1 2022 revised estimate (QR 113.18 billion), an increase of 7.6% is recorded.
The real GVA of Non-Mining and Quarrying activities is estimated at QR 108.09 billion in Q2 2022, which shows an increase of 9.7% over the estimate of the Q2 2021 (QR 98.57 billion). When compared to Q1 2022 revised estimate (QR 104.20 billion), an increase of 3.7% is also recorded.
