Qatar Q1 GDP Rises 7 Percent

Qatar’s quarterly GDP at current prices in first quarter of 2018 is estimated at QR160.44 billion ($44.06 billion), showing an increase of 7% compared to the revised estimate of QR149.93 billion in same quarter last year of 2017, The Peninsula reported. The rise in quarterly GDP shows the resilience of Qatar’s growing economy which has successfully overcome challenges posed by the unjust blockade imposed by the siege countries. Quarterly GDP was estimated at QR162 billion in the fourth quarter of 2017, said the ministry of development planning and statistics Sunday in a press release. The quarterly GDP at constant prices in Q1 of 2018 (QR199.20 billion) shows a growth of 1.4% compared to the revised estimate of Q1 of 2017 (QR196.52 billion). The nominal gross value added estimate of mining and quarrying activities is estimated at QR51.07 billion in Q1, which shows an increase of 4.3% over the revised estimate of Q1 2017 placed at QR 48.37 billion. Compared to the previous quarter (Q4 of 2017) revised estimate, there has been a decrease of 5.2% in the GVA of this sector.