Qatar sees GDP growth of 9.7% in Q1 2021: PSA

Satyendra Pathak Doha Qatar’s quarterly GDP at current prices in the first quarter of 2021 is estimated at QR 147.77 billion, an increase of 9.7 percent ...

Satyendra Pathak Doha Qatar’s quarterly GDP at current prices in the first quarter of 2021 is estimated at QR 147.77 billion, an increase of 9.7 percent when compared to the revised estimate of QR 134.819 billion in the fourth quarter of 2020, the Planning and Statistics Authority (PSA) said in a report released on Sunday. According to PSA’s thirty-sixth issue of the quarterly publication ‘Window on Economic Statistics of Qatar’, a decrease of 1.9 percent compared to the GDP of QR150.618 billion in the first quarter of 2020 has been recorded.The reference quarter of this issue is the first quarter of 2021. All the latest available macro-economic indicators, relating to national accounts, prices, public finance, and the balance of payments have been assembled in a single report.According to PSA, the quarterly GDP at constant prices showed a decrease of 2.3 percent in the first quarter of 2021 to QR 161.73 billion compared to the estimate of QR 165.62 billion in the first quarter of 2020. When compared to the revised estimate of QR163.06 billion in the fourth quarter of 2020, a decrease of 0.8 percent is also recorded.The nominal Gross Value Added (GVA) estimate of mining and quarrying activities is estimated at QR 51.81 billion in the first quarter of 2021, a decrease of 0.4 percent over QR 51.59 billion in the first quarter of 2020. Compared to the previous quarter’s revised estimate of QR 38.88 billion, an increase of 33.3 percent in the GVA of this sector is recorded.The real GVA of these activities is estimated at QR62.87 billion in the first quarter of 2021, a decrease of 2.3 percent compared to the estimate of QR64.32 billion the first quarter of 2020. Compared to the revised estimate QR60.46 billion in the fourth quarter of 2020, an increase of 4 percent in the real GVA of this sector is recorded.The nominal GVA estimate of non-mining and quarrying activities is estimated at QR 95.97 billion in the first quarter of 2021, a decrease of 3.2 percent over the estimate of QR 99.10 billion in the first quarter of 2020. Compared to the revised estimate of QR95.88 billion in the previous quarter, an increase of 0.1 percent is recorded.The real GVA of non-mining and quarrying activities is estimated at QR98.86 billion in the first quarter of 2021, a decrease of 2.4 percent over the estimate of the corresponding quarter in 2020 that stood at QR101.29 billion. When compared to the revised estimate of QR 102.61 billion in the fourth quarter of 2020, a decrease of 3.6 percent is recorded.According to PSA, the quarterly CPI for the first quarter of 2021 shows an increase of 1.1 percent when compared to the previous quarter, and 1 percent decrease when compared to the corresponding quarter of 2020.The observed 1.1 percent increase in comparison with the previous quarter is the net effect of rises in some groups and falls in others. The groups showing increases include ‘transport’ by 5.8 percent, followed by ‘furnishings and household equipment’ by 3 percent, ‘communication’ by 2.2 percent, ‘restaurants and hotels’ by 1.4 percent, ‘recreation and culture’, and ‘education’ by 1 percent each, ‘food and beverages’ by 0.3 percent and ‘miscellaneous goods and service’ by 0.2 percent. A handy report, the PSA publication is meant to help diverse users, in particular, policy and decision makers.This publication comprises three parts. The first part presents a dashboard comparing the economic performance of Qatar with other economies and regions, in terms of three indicators like real GDP annual growth rate, CPI (y-o-y) change and current account balance as percentage of GDP, as well as data series (quarterly and annual) on some thirty economic indicators.Part 2 presents an analysis of the quarterly statistics relating to GDP, CPI, PPI, exports and imports and compares the performance in the first quarter of 2021 with that of the corresponding quarter of 2020 and, with that of the previous quarter.Part 3 contains articles on selected themes. This issues’ article is entitled ‘Moving to the Fourth Revision of the International Standard Classification of All Economic Activities’. The article discusses revision of the International Standard Classification of All Economic Activities issued by the Statistical Commission of the United Nations. The article also reviews all previous classifications released in this field.