Qatar’s GDP grows 4% annually in Q2: PSA

Tribune News Network Doha Qatar’s economic rebound from the COVID-19 pandemic was stronger than expected in the months from April to June, with the GDP ris...

Tribune News NetworkDohaQatar’s economic rebound from the COVID-19 pandemic was stronger than expected in the months from April to June, with the GDP rising by 4 percent annually in the second quarter, according to the Planning and Statistics Authority (PSA).PSA estimated that Qatar’s GDP at constant prices (2018=100) is worth QR161.64 billion for the second quarter of 2021, down 0.3 percent against the revised estimate of QR 162.15 billion for the first quarter.The GDP at constant prices is estimated at QR156.31 billion. This is an improvement of 36.1 percent from the estimate for the same period last year and 5.4 percent when compared with the revised estimate of QR148.28 billion for the first quarter of 2021.The nominal gross value added (GVA) estimate of mining and quarrying activities is estimated at QR57.49 billion in Q2 2021, which shows an increase of 103.9 percent over the estimate of Q2 2020 placed at QR28.20 billion. Compared to the previous quarter revised estimate (QR 51.81 billion), an increase of 11 percent in the GVA of this sector is recorded.The real GVA of these activities is estimated at QR63.15 billion in Q2 2021, which shows an increase of 0.7 percent compared to the estimate of Q2 2020 (QR62.73 billion). Compared to Q1 2021 revised estimate (QR62.87 billion), an increase of 0.4 percent in the real GVA of this sector is also recorded.The nominal GVA of non-mining and quarrying activities is estimated at QR98.82 billion in Q2 2021, which shows an increase of 14 percent over the estimate of Q2 2020 (QR86.68 billion). Compared to the previous quarter revised estimate (QR96.47 billion), an increase of 2.4 percent is recorded.The real GVA of non-mining and quarrying activities is estimated at QR98.49 billion in Q2 2021, which shows an increase of 6.2 percent over the estimate of the Q2 2020 (QR92.72 billion). When compared to the Q1 2021 revised estimate (QR99.29 billion), a decrease of 0.8 percent is also recorded.