Qatar's Economy Grows 0.8% In Q2
Date
12/10/2024 5:00:07 AM
(MENAFN- The Peninsula)
QNA
Doha: The Qatari Economy recorded a real growth rate (at constant prices) of 0.8 percent during the second quarter of 2024, compared to the estimates for the second quarter of 2023.
Data from the National Statistics Center at the National Planning Council (NPC), released Monday, showed that the GDP estimates for the second quarter of 2024 at constant prices reached around QR177bn, compared to the revised estimates of QR175.6bn for the second quarter of 2023.
This indicates a 1 percent increase compared to the revised estimates for the first quarter of 2024, which amounted to QR175.25bn.
The quarterly GDP at current prices in Q2 of 2024 is estimated at QR194.25bn. This represents an increase of 0.7 percent compared to the revised estimate of Q2 of 2023 placed at QR192.84bn.
When compared to previous quarter (Q1) of 2024 estimate of QR192.46bn, an increase of 0.9 percent is recorded. The quarterly GDP at constant prices shows an increase of 0.8 percent in Q2 of 2024 (QR177.00bn) compared to the revised estimate of Q2 of 2023 (QR175.60bn).
When compared to Q1 of 2024 estimate (QR175.25bn), an increase of 1.0 percent is also recorded.
The nominal gross value added (GVA) estimate of Mining and Quarrying activities is estimated at QR72.83bn in Q2 2024, which shows a decrease of 1.0 percent over the revised estimate of Q2 2023 placed at QR73.59bn.
Compared to the previous quarter estimate (QR75.40bn), a decrease of 3.4 percent in the GVA of this sector is recorded.
The real GVA of these activities is estimated at QR63.14bn in Q2 2024, which shows a decrease of 2.6 percent compared to the revised estimate of Q2 2023 (QR64.83bn). Compared to Q1 2024 estimate (QR65.40bn), a decrease of 3.5 percent in the real GVA of this sector is also recorded.
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