Qatar's GDP Registers a 9.6% Growth

  • Doha, State of Qatar
  • 21 January 2021

The gross domestic product of the State of Qatar grew by 9.6 percent, reaching about 127.84 billion riyals ($35.1 billion) in the third quarter of last year, compared to the second quarter of the same year, which amounted to 116.69 billion riyals, while it recorded a decrease of 19.9% ​​compared to the third quarter of 2019, when the output reached 159.56 billion riyals.

According to the Qatar Planning and Statistics Authority, estimates of GDP at constant prices for the third quarter amounted to approximately 164.02 billion riyals, compared to 174.66 billion riyals for the same quarter of 2019, a decrease of 4.5 percent, while it recorded growth on a quarterly basis by about 5.6 percent compared to the second quarter whose estimates are 155.30 billion riyal.

Mining and quarrying activity recorded 33.70 billion riyals at current prices, a decrease of 40.5 percent, compared to the same period in 2019, which amounted to 56.65 billion riyals, but this sector achieved a growth of 18.8 percent compared to the second quarter, which recorded 28.36 billion riyals.

Non-mining activities witnessed a decline of 8.5 percent, registering 94.15 billion riyals, compared to the same quarter of 2019, which achieved 102.90 billion riyals, while it grew by 6.6 percent compared to the second quarter's estimates of 88.33 billion riyals.

The Qatar Central Bank had expected Qatar’s economy to contract due to weak oil prices and the Coronavirus crisis, after it declined 0.3% during 2019.

Source (Al-Araby Al-Jadeed Newspaper, Edited)

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