Qatar’s 2020 Q4 nomial GDP grows 7.4% QoQ

Tribune News Network Doha Qatar’s gross domestic product at current prices (nominal GDP) in the fourth quarter of 2020 is estimated at QR136.73 billion, a...

Tribune News NetworkDoha Qatar’s gross domestic product at current prices (nominal GDP) in the fourth quarter of 2020 is estimated at QR136.73 billion, an increase of 7.4 percent compared to the revised estimate of QR127.31 billion in third quarter of the same year, according to the latest data released by Planning and Statistics Authority (PSA) on Thursday. The preliminary estimates of GDP at current and constant prices for the fourth quarter of 2020 released by PSA, however, showed that the GDP at current prices represents a decrease of 14.4 percent compared to QR159.65 billion in the fourth quarter of 2019. The PSA data revealed that Qatar’s gross domestic product at constant prices (real GDP) decreased by 3.9 percent in the fourth quarter of 2020 compared to the same quarter in the previous year. The estimates have been produced with data collected through the Quarterly Economic Indicator Survey and from other source agencies.The report said that gross value added at constant 2018 prices for mining and quarrying activities decreased by 3.3 percent in the fourth quarter of 2020 compared to the same quarter in 2019.Gross value added at constant 2018 prices for non-mining and quarrying activities decreased by 4.2 percent in the fourth quarter of 2020, year on year.The quarterly GDP at constant prices showed a decrease of 3.9 percent in the fourth quarter of 2020 to QR163 billion compared to QR169.64 billion in the fourth quarter of 2019. When compared to the revised estimate of QR163.82 billion in the third quarter of 2020, a decrease of 0.5 percent was recorded.The nominal gross value added estimate of mining and quarrying activities stood at QR38.99 billion in the fourth quarter of 2020, which shows a decrease of 28.9 percent over QR 54.81 billion recorded in the fourth quarter of 2019. When compared to the revised estimate of QR33.70 billion in the third quarter of 2020, an increase of 15.7 percent was recorded.The real gross value added of these activities was estimated at QR60.32 billion in the fourth quarter of 2020, which shows a decrease of 3.3 percent compared to the estimate of QR62.40 billion in the fourth quarter of 2019. Compared to the revised estimate of QR63.01 billion in the third quarter of 2020, a decrease of 4.3 percent was recorded.The nominal gross value added estimate of non-mining and quarrying activities was estimated at QR97.74 billion in the fourth quarter of 2020, which shows a decrease of 6.8 percent over the estimate of QR104.84 billion in the fourth quarter of 2019. Compared to the revised estimate of QR93.61 billion in the previous quarter, an increase of 4.4 percent was recorded.The real gross value added of non-mining and quarrying activities was estimated at QR102.69 billion in the fourth quarter of 2020, which shows a decrease of 4.2 percent over the estimate of QR107.24 billion in the corresponding quarter in 2019. When compared to the revised estimate of QR100.81 billion in the third quarter of 2020, an increase of 1.9 percent was also recorded.