Qatar's Economy Grow by 6 Percent During Second Quarter of 2013

(MENAFN- Qatar News Agency) The Gross Domestic Product (GDP) of the state ( in constant prices) realized a growth estimated at 6 percent during the second quarter of this year, compared to the corresponding quarter last year, while the growth reached 0.6 percent compared to the first quarter of this year. A press release issued today by the Ministry of Development Planning and Statistics said the estimates of GDP at constant prices reached QR 88.83 billion in the second quarter of this year compared to the estimates of the corresponding quarter of last year which reached QR 83.82 billion, achieving a growth rate of 6 percent. The total contribution of the mining and quarrying sector totaled QR 37.25 billion, or a growth rate of 1 percent, compared to estimates of the corresponding quarter of last year, which amounted to QR 36.89 billion, while the non-oil sector recorded a growth of 9.9 percent or QR 51.58 billion, compared to QR 46.94 billion during the second quarter of last year. The statement of the Ministry of Development Planning and Statistics indicated that the manufacturing industries grew by about 6.4 percent during the second quarter of this year with their value amounting to QR 8.34 billion, compared to the corresponding period last year. They realized an increase rate estimated at 0.4 percent compared to the previous quarter of the current year. The building and construction sector realized during the second quarter of this year a total value estimated at QR 10.64 billion, a growth rate of 11 percent. Meanwhile the sector of trade, hotels and restaurants grew by QR 6.60 billion, recording an increase of 5 per cent. The value of the contribution of transport and communication activities in the GDP totaled 5.86 billion during the second quarter of the current year , an increase of 13.6 percent compared to the corresponding period of last year. However this sector fell by about 3.9 percent compared to the first quarter of this year. Performance of finance, insurance, real estate and business services sectors increased by 15.4 percent with its value amounting to QR 10.08 billion compared to the second quarter of last year, while they fell by 0.2 percent compared to the first quarter of this year. The contribution of government services, which include health, education and miscellaneous services increased by QR 9.83 billion in the second quarter of this year with a growth rate of 9.6 percent compared to the corresponding period last year . The same estimates indicated that the GDP at current prices totaled QR 181.07 billion during the second quarter of this year, thus achieving a growth of 6.1 compared to the corresponding period last year, while it dropped 2.1 percent compared to the first quarter of 2013. The mining and quarrying sector's activities grew by 0.5 percent realizing QR100.31 billion, compared to the estimates of the second quarter of the year 2012. But fell 5.7 percent compared with estimates of the first quarter of this year " because of lower oil prices ," according to the statement . The non-oil activities recorded during the said quarter a growth at current prices amounted to 13.9 percent, and achieved QR 80.76 billion, compared to the second quarter of last year.