BY MOHAMMAD SHOEB
DOHA: Qatar’s real Gross Domestic Product (GDP) was up 13 percent in 2011 versus 16.7 percent in 2010 calculated at the constant prices of 2004, according to revised estimated figures released by the Qatar Statistics Authority.
Issuing ‘National Accounts Bulletin (NAB) 2012’ the revised estimate of nominal GDP (at current prices) for 2011 was up 37 percent which was up by 27.9 percent in 2010.
The NAB in its new-look, presents data series of key national accounts aggregates including GDP, Government Final Consumption Expenditure, Household Final Consumption Expenditure, Capital Formation and other for the period 2004 to 2011 both at current and constant prices.
The NAB begins with the analytical overview of economy in 2004-2011, and the publication is divided in six parts. Some of the salient features of the National Accounts Aggregates are as follows:
The final estimated GDP in 2010 at current prices stood at QR455.45bn.
The revised preliminary estimate of GDP for 2011 is accordingly placed at QR624.17bn, representing an increase of 37 percent.
The Gross Value Added (GVA) from the mining and quarrying sector for the year 2011 has been revised at QR370.16bn representing an increase of 54.4 percent over the GVA of QR239.75bn for the year 2010. The increase is mainly attributed to both higher production and international oil prices.
The GVA from the non-mining and quarrying sectors including mainly manufacturing; construction; trade, hotels and restaurants; transport, storage and communication; finance, insurance, real estate and business services; and government services for the year 2011 has been revised at QR254bn representing an increase of 17.8 percent over the GVA of QR215.7bn for the year 2010.
While the real GDP in 2010 at constant (2004) prices was estimated at QR284.23bn and the revised preliminary estimate of real GDP for 2011 was estimated to QR321bn, representing an increase of 13 percent.
Government’s Final Consumption Expenditure (GFCE), at current prices, is estimated at QR76.84bn in 2011 versus QR63.69bn in 2010, showing a rise of 20.6 percent. And, at constant prices, the GFCE works out to QR53.33bn in 2011 as against QR43bn in 2010, which was up by 23.9 percent.
While the Household Final Consumption Expenditure (HFCE), at current prices, was estimated at QR79.90bn in 2011 as against QR73.65bn in 2010, witnessing a rise of 8.5 percent.
The HFCE estimates, at 2004 prices, works out to QR52.82bn in 2011 against QR49.72bn in 2010, which was up by 6.2 percent.
Gross savings at current prices, in 2011 was provisionally estimated at QR373bn as against QR229.63bn in 2010, showing an increase of 62.5 percent.
The Gross Capital Formation or Gross Investment, at current prices, shows an increase of 28.6 percent in 2011 from QR143bn in 2010 to QR183.87bn in 2011. While the rate of gross capital formation at current prices was 29.5 percent in 2011 as against 31.4 percent seen in 2010.
The Peninsula
