Quarterly Gross Domestic Product by Economic Activities Third Quarter, 2023

02/05/2024

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 third quarter (Q3) 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 third quarter of 2023 and compares it to the revised GDP estimates for the third quarter of 2022 and the second quarter of 2023.

HIGHLIGHTS
Gross domestic product at current prices (nominal GDP) decreased by 12.9% in the third quarter of 2023 over the third quarter of 2022.
Gross domestic product at constant prices (real GDP, 2018=100) increased by 1.2% in the third quarter of 2023, year on year.
Gross value added at constant 2018 prices for Mining and Quarrying activities increased by 2.3% in the third 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 0.6% in the third quarter of 2023, year on year.

Third Quarter 2023:

Nominal and Real GDP Estimates
The quarterly GDP at current prices in Q3 of 2023 is estimated at QR 198.285 billion. This represents a decrease of 12.9% compared to the estimate of Q3 of 2022 placed at QR 227.781 billion. When compared to previous quarter (Q2) of 2023 revised estimate of QR 186.753 billion, an increase of 6.2% is recorded.
The quarterly GDP at constant prices (2018=100) shows an increase of 1.2% in Q3 of 2023 (QR 177.334 billion) compared to the estimate of Q3 of 2022 (QR 175.200 billion). When compared to Q2 of 2023 revised estimate (QR 170.479 billion), an increase of 4.0% is recorded.

Mining and Quarrying Activities
The nominal gross value added (GVA) estimate of Mining and Quarrying activities is estimated at QR 79.370 billion in Q3 2023, which shows a decrease of 25.7% over the estimate of Q3 2022 placed at QR 106.760 billion. Compared to the previous quarter Q2 2023 revised estimate (QR 73.040 billion), an increase of 8.7% in the GVA of this sector is recorded.

The real GVA of these activities is estimated at QR 65.876 billion in Q3 2023, which shows an increase of 2.3% compared to the estimate of Q3 2022 (QR 64.370 billion). Compared to Q2 2023 revised estimate (QR 65.374 billion), an increase of 0.8% 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 118.915 billion in Q3 2023, which shows a decrease of 1.7% over the estimate of Q3 2022 (QR 121.021 billion). Compared to the previous quarter Q2 2023 revised estimate (QR 113.713 billion), an increase of 4.6% is recorded.
The real GVA of Non-Mining and Quarrying activities is estimated at QR 111.458 billion in Q3 2023, which shows an increase of 0.6% over the estimate of the Q3 2022 (QR 110.830 billion). When compared to Q2 2023 revised estimate (QR 105.105 billion), an increase of 6.0% is also recorded.