Qatari GDP up by 20.4% in 2010 Q2
Qatar Statistics Authority released the preliminary estimates of Gross Domestic Product (GDP) for the Second quarter of 2010 by economic activities in current prices. The overall GDP amounted to (98.4) billion Qatari Riyals in the second quarter of 2010, increasing from (81.7) billion Qatari Riyals in the same quarter of 2009 and the rate of change was (20.4%). On the other hand, the estimates of the second quarter 2010 reflected a decline from (102.5) billion Qatari Riyals on first quarter 2010 with negative growth of (4.1%).
The estimates indicated that mining and quarrying (which includes oil and gas industry) increased by (36.8%) compared to the second quarter of 2009 where it rated down by (8.9%) from the first quarter of 2010. The increase in oil and gas prices during the second quarter 2010 compared to the first quarter in the same year did not offset the decrease in the production. Mining and quarrying share in GDP was about (49.8%).
Manufacturing witnessed a noticeable increase in the second quarter of about (15.9%) when compared to the same quarter of 2009 but with slight decrease by (1.7%) from the previous quarter. The value added of manufacturing has been affected by the decline in petrochemical prices in second quarter 2010 when compared to the first quarter 2010, causing a slight decline.
In addition, the decline in mining and quarrying, as well as manufacturing was mainly due to the drop in production because of the shutdown of some of production facilities for maintenance at that period.
Electricity and water increased by about (0.6%) in the second quarter of 2010 when compared to the second quarter of 2009, and (3.4%) when compared to the first quarter of 2010.
Construction declined by about (10.7%) from the second quarter of 2009 and increased by about (3.3%) from the first quarter of 2010.
Finance, Insurance, Real Estate & Business Services declined by about (3.8%) from the second quarter of 2009, and increased by (1.4 %) from the first quarter of 2010.
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