The Ministry of Development Planning and Statistics (MDPS) have released the preliminary estimates of Gross Domestic Product (GDP) at current and constant prices for the third quarter (Q3) of 2017. The estimates have been produced by using the data collected through the Quarterly Economic Indicator Survey and from other source agencies.
HIGHLIGHTS
• Gross Domestic Product at current prices (Nominal GDP) increase by 7.4% in the third quarter of 2017 over the third quarter of 2016.
• Gross Domestic Product at constant prices (Real GDP, 2013=100) increase by 1.9% year-on-year.
Third Quarter 2017 Nominal and Real GDP Estimates
The quarterly GDP at current prices in Q3 of 2017 is estimated at QR 151.70 billion. This represents an increase of 7.4% compared to the estimate of Q3 of 2016 placed at QR 141.28 billion. When compared to previous quarter (Q2 of 2017) revised estimate of QR 145.99 billion, an increase of 3.9% is noticed.
The quarterly GDP at constant (2013) prices in Q3 of 2017 (QR 208.92 billion) shows a growth of 1.9% compared to the estimate of Q3 of 2016 (QR 205.05 billion). However, compared to the previous quarter (Q2 of 2017) revised estimate of QR 198.05 billion the growth is 5.5%.
Mining and Quarrying activities
The nominal Gross Value Added (GVA) estimate of Mining and Quarrying activities is estimated at QR 50.17 billion in Q3 2017, which shows an increase of 14.6% over the estimate of Q3 2016 placed at QR 43.76 billion. Compared to the previous quarter (Q2 of 2017) revised estimate, there has been an increase of 8.1% in the GVA of this sector.
The real GVA of these activities in Q3 2017 is estimated at QR 102.78 billion, which shows an increase of 0.2% over the estimate of Q3 2016 (QR 102.59 billion). However, compared to Q2 2017 revised estimate, there has been a rise of 6.6% in the real GVA of this sector.
Non-Mining and Quarrying activities
The nominal GVA estimate of Non-Mining and Quarrying activities is estimated at QR 101.54 billion in Q3 2017, which shows an increase of 4.1% over the estimate of Q3 2016 (QR 97.52 billion). Compared to the previous quarter (Q2 of 2017) revised estimate, an increase of 1.9% has been recorded.
The real GVA of these activities totaled QR 106.14 billion in Q3 2017, which shows a growth of 3.6% over the estimate of the corresponding quarter in 2016 (QR 102.46 billion). However, compared to Q2 2017 revised estimate, the real GVA of Non-Mining and Quarrying activities have increased by 4.5%.
For more information click here
