The Planning and Statistics Authority (PSA) have released the preliminary estimates of Gross Domestic Product (GDP) at current and constant prices for the first quarter (Q1) of 2020. The estimates have been produced with data collected through the Quarterly Economic Indicator Survey and from other source agencies.
In this opportunity, GDP estimates for the last 12 quarters have been revised after applying the results of the annual economic survey for 2017 and 2018 into GDP estimates. At the same time, the base year for constant GDP estimates has been changed from 2013 to 2018.
This press release presents the estimates of GDP for the first quarter of 2020 and compares it with the GDP estimates for the first quarter of 2019 and the fourth quarter of 2019.
The revised estimates of GDP for the last 12 quarters as well as the new base year structure will be soon published in a separate document.
HIGHLIGHTS
- Gross Domestic Product at current prices (Nominal GDP) decrease by 5.5% in the first quarter of 2020 over the first quarter of 2019.
- Gross Domestic Product at constant prices (Real GDP, 2018=100) increase by 0.9% in the first quarter of 2020, year on year.
- Gross Value Added at constant 2018 prices for Mining and Quarrying activities remain virtually unchanged in the first quarter of 2020 compared to the same quarter in 2019.
- Gross Value Added at constant 2018 prices for Non Mining and Quarrying activities increase by 1.4% in the first quarter of 2020, year on year.
First Quarter 2020 Nominal and Real GDP Estimates
The quarterly GDP at current prices in Q1 of 2020 is estimated at QR 153.77 billion. This represents a decrease of 5.5% compared to the revised estimate of Q1 of 2019 placed at QR 162.71 billion. When compared to previous quarter (Q4 of 2019) revised estimate of QR 159.65 billion, a decrease of 3.7% is recorded.
The quarterly GDP at constant prices (2018=100) shows an increase of 0.9% in Q1 of 2020 (QR 167.33 billion) compared to the revised estimate of Q1 of 2019 (QR 165.90 billion). However, compared to Q4 of 2019 revised estimate (QR 169.64 billion) a decrease of 1.4% is recorded.
Mining and Quarrying Activities
The nominal Gross Value Added (GVA) estimate of Mining and Quarrying activities is estimated at QR 51.84 billion in Q1 2020, which shows a decrease of 15.5% over the revised estimate of Q1 2019 placed at QR 61.37 billion. Compared to the previous quarter (Q4 of 2019) revised estimate, there has been a decrease of 5.4% in the GVA of this sector.
The real GVA of these activities is estimated at QR 64.18 billion in Q1 2020, virtually unchanged compared to the revised estimate of Q1 2019 (QR 64.18 billion). Compared to Q4 2019 revised estimate, an increase of 2.9% in the real GVA of this sector is also recorded.
Non-Mining and Quarrying Activities
The nominal GVA estimate of Non-Mining and Quarrying activities is estimated at QR 101.93 billion in Q1 2020, which shows an increase of 0.6% over the revised estimate of Q1 2019 (QR 101.34 billion). Compared to the previous quarter (Q4 of 2019) revised estimate, a decrease of 2.8% has been recorded.
The real GVA of these activities totaled QR 103.15 billion in Q1 2020, which shows an increase of 1.4% over the revised estimate of the corresponding quarter Q1 2019 (QR 101.72 billion). However, compared to Q4 2019 revised estimate, the real GVA of Non-Mining and Quarrying activities has decreased by 3.8%.
