The Planning and Statistics Authority (PSA) have released the preliminary estimates of Gross Domestic Product (GDP) at current and constant prices for the second quarter (Q2) of 2020. The estimates have been produced with data collected through the Quarterly Economic Indicator Survey and from other source agencies.
This press release presents the estimates of GDP for the second quarter of 2020 and compares it with the GDP estimates for the second quarter of 2019 and the revised estimates for the first quarter of 2020.
Covid-19 and Q2 2020 GDP estimates
Q2 2020 is characterized by the initial stage of the quarantine imposed by the Covid-19 pandemic. During this period, many businesses operating in the country were temporarily closed or their daily activities reduced. This was clearly seen in activities such as transportation, retail trade, accommodation, restaurants, and recreation. This situation has clearly impacted on Qatar’s Q2 2020 GDP estimates, as well as around the world.
Although the quarantine imposes challenges for statistical work, data collection for Q2 2020 GDP estimates was done as usual. PSA is thankful with all data providers for their commitment and cooperation.
HIGHLIGHTS
• Gross Domestic Product at current prices (Nominal GDP) decrease by 26.3% in the second quarter of 2020 over the second quarter of 2019.
• Gross Domestic Product at constant prices Real GDP, )2018=100) decrease by 6.1% in the second quarter of 2020, year on year.
• Gross Value Added at constant )2018=100) prices for Mining and Quarrying activities decrease by 1.3% in the second quarter of 2020 compared to the same quarter in 2019.
• Gross Value Added at constant 2018 prices for Non-Mining and Quarrying activities decrease by 9.1% in the second quarter of 2020, year on year.
Second Quarter 2020
Nominal and Real GDP Estimates
The quarterly GDP at current prices in Q2 of 2020 is estimated at )QR 116.59 billion(. This represents a decrease of 26.3% compared to the estimate of Q2 of 2019 placed at )QR 158.14 billion(. When compared to previous quarter Q1 of 2020 revised estimate of )QR 152.16 billion(, a decrease of 23.4% is recorded.
The quarterly GDP at constant prices (2018=100) shows a decrease of 6.1% in Q2 of 2020 (QR 155.20 billion) compared to the estimate of Q2 of 2019 (QR 165.31 billion). When compared to Q1 of 2020 revised estimate (QR 165.82 billion), a decrease of 6.4% is recorded.
Mining and Quarrying Activities
The nominal Gross Value Added (GVA) estimate of Mining and Quarrying activities is estimated at )QR 28.36 billion( in Q2 2020, which shows a decrease of 50.2% over the estimate of Q2 2019 placed at )QR 56.97 billion(. Compared to the previous quarter revised estimate (QR 51.84 billion), a decrease of 45.3% in the GVA of this sector is recorded.
The real GVA of these activities is estimated at )QR 62.60 billion( in Q2 2020, which shows a decrease of 1.3% compared to the estimate of Q2 2019 (QR 63.45 billion). Compared to Q1 2020 revised estimate (QR 64.18 billion), a decrease of 2.5% 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 88.23 billion( in Q2 2020, which shows a decrease of 12.8% over the estimate of Q2 2019 (QR 101.17 billion). Compared to the previous quarter revised estimate (QR 100.33 billion), a decrease of 12.1% is recorded.
The real GVA of Non-Mining and Quarrying activities is estimated at )QR 92.60 billion( in Q2 2020, which shows a decrease of 9.1% over the estimate of the corresponding quarter in 2019 (QR 101.86 billion). When compared to the Q1 2020 revised estimate (QR 101.65 billion), a decrease of 8.9% is also recorded.
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