Qatar achieves 4.1% quarterly growth

Qatar's economy has achieved a growth of 4.1 percent during the first quarter of this year compared to the same quarter of last year. It achieved a growth of about 3.4 percent compared to the fourth quarter of the same year.

The Ministry of Development Planning and Statistics said in a report about results of the first quarter of this year, estimates of that Gross Domestic Product (GDP) at constant prices amounted to QAR199.21 billion in the first quarter of 2015 compared to estimates of the first quarter of 2014 which reached 191.31 billion thus achieving a growth of 4.1. percent, according to Qatar News Agency (QNA).

Compared to the estimates of the fourth quarter of 2014 of QAR 192.57 billion, the GDP has achieved a growth rate of 3.4 percent.

Data show that the GDP estimates at current prices amounted to QAR 173.03 billion in the first quarter of this year, down by about 14 percent compared to estimates of the corresponding period last year.
Compared with estimates of the fourth quarter of 2014 which totaled QAR 183.56 billion the GDP at current prices, declined by 5.7 percent.

The Ministry of Development Planning and Statistics pointed out that these initial estimates of GDP according to the economic activity came after the endorsement of the 2013 as a new basis year.

It said these estimates were prepared on the basis of the data available through the quarterly survey of economic indicators as well as data from administrative records of different organs and bodies.

According to these estimates mining and quarrying sector has decreased by about 31.5 percent to record an added value at current prices of QAR 75.24 billion, compared to the corresponding quarter of last year. The activity showed a decrease of 12.5 percent compared to the fourth quarter of the same year (2014).

The added value estimates at constant prices for the mining and quarrying sector totaled QAR 101.13 billion recording a decline of 0.1 percent compared with estimates of the first quarter of 2014, which amounted to QAR 101.24 billion