The Planning and Statistics Authority (PSA) have released the preliminary estimates of gross domestic product (GDP) at current and constant prices (2018=100) for the first quarter (Q1) of 2023. The estimates have been produced with data collected through the Quarterly Economic Indicator Survey and from other source agencies.
This press release presents the preliminary estimates of GDP for the first quarter of 2023 and compares it to the revised GDP estimates for the first quarter of 2022 and the estimates for the fourth quarter of 2022.
HIGHLIGHTS
• Gross domestic product at current prices (nominal GDP) increased by 1.0% in the first quarter of 2023 over the first quarter of 2022.
• Gross domestic product at constant prices (real GDP, 2018=100) increased by 2.7% in the first quarter of 2023, year on year.
• Gross value added at constant 2018 prices for Mining and Quarrying activities increased by 4.1% in the first quarter of 2023 compared to the same quarter in 2022.
• Gross value added at constant 2018 prices for Non-Mining and Quarrying activities increased by 1.9% in the first quarter of 2023, year on year.
Nominal and Real GDP Estimates for The first Quarter 2023:
The quarterly GDP at current prices in Q1 of 2023 is estimated at QR 198.74 billion. This represents an increase of 1.0% compared to the estimate of Q1 of 2022 placed at QR 196.81 billion. When compared to previous quarter (Q4) of 2022 revised estimate of QR 217.58 billion, a decrease of 8.7% is recorded.
The quarterly GDP at constant prices (2018=100) shows an increase of 2.7% in Q1 of 2023 (QR 170.10 billion) compared to the estimate of Q1 of 2022 (QR 165.60 billion). When compared to Q4 of 2022 revised estimate (QR 177.02 billion), a decrease of 3.9% is recorded.
Mining and Quarrying Activities
The nominal gross value added (GVA) estimate of Mining and Quarrying activities is estimated at QR 80.41 billion in Q1 2023, which shows a decrease of 4.5% over the estimate of Q1 2022 placed at QR 84.17 billion. Compared to the previous quarter Q4 2022 revised estimate (QR 91.25 billion), a decrease of 11.9% in the GVA of this sector is recorded.
The real GVA of these activities is estimated at QR 64.37 billion in Q1 2023, which shows an increase of 4.1% compared to the estimate of Q1 2022 (QR 61.86 billion). Compared to Q4 2022 revised estimate (QR 64.18 billion), an increase of 0.3% in the real GVA of this sector is also recorded.
Non-Mining and Quarrying Activities
The nominal GVA of Non-Mining and Quarrying activities is estimated at QR 118.33 billion in Q1 2023, which shows an increase of 5.0% over the estimate of Q1 2022 (QR 112.64 billion). Compared to the previous quarter Q4 2022 revised estimate (QR126.34 billion), a decrease of 6.3% is recorded.
The real GVA of Non-Mining and Quarrying activities is estimated at QR 105.73 billion in Q1 2023, which shows an increase of 1.9% over the estimate of the Q1 2022 (QR 103.73 billion). When compared to Q4 2022 revised estimate (QR 112.86 billion), a decrease of 6.3% is recorded.
