Data revealed by Qatar’s Planning and Statistics Authority has revealed that the country’s Gross Domestic Product exhibited a 5.6 percent quarter-on-quarter growth in the third quarter of 2020 as economic activities in wholesale and retail trade, and accommodation and food services posted double-digit growth.
The authority reported that Qatar’s third-quarter GDP at constant prices is expected to be at $45.05 billion which is still 4.5 percent lower than the numbers it posted at the same period last year.
Qatar’s quarterly GDP at current prices for Q3 2020 is estimated at $35.11 billion, a 19.9 percent drop against Q3 of 2019 but a healthy 9.6 percent increase when compared to the previous quarter (Q2 2020).
PSA estimates the economic activities (at constant prices) in wholesale and retail trade, and repair of motor vehicles and motorcycles to have generated $3.52 billion in Q3 2020, a substantial increase of 65.3 percent when compared to the previous quarter.
Meanwhile, accommodation and food services activities (at constant prices) are expected to have generated $350 million in the third quarter period, a 49.8 percent increase from the numbers posted in the previous quarter.
Gross Value Addition
Authorities estimate the nominal Gross Value Added (GVA) from mining and quarrying activities to be at $9.26 billion, a 40.5 percent decline from the estimate of Q3, 2019 which was placed at $15.56 billion.
Meanwhile, the number was better off by 18.8 percent when compared to the revised estimate of $7.79 billion for the previous quarter (Q2, 2020).
While the real GVA of these activities is expected to be 3.6 percent lesser at $17.31 billion in Q3, 2020 when compared to the estimate of Q3, 2019 ($17.96 billion), the number is 0.7 percent higher than the Q2 2020 revised estimate ($17.19 billion),
Nominal Gross Value Added
The nominal GVA estimate of non-mining and quarrying activities is expected to be at $25.86 billion in Q3 2020, which is 8.5 percent lower than the estimate of Q3, 2019 at $28.26 billion.
When compared to the revised estimates for the previous quarter, the estimate has shown an increase of 6.6 percent.
According to the PSA figures, the real GVA of non-mining and quarrying activities is estimated at $27.74 billion in Q3, 2020, a decrease of 5 percent over the estimate of the corresponding quarter in Q3, 2019 ($29.19 billion).
When compared to the Q2 2020 revised estimate ($25.46 billion), an increase of 9 percent is recorded.
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
