Qatar’s Gross Domestic Product (GDP), at current prices, for the Second quarter of 2016 (Q2 2016) was estimated at QR135.378bn. The country’s GDP, when compared on quarterly basis, has witnessed an increase of 2.7 percent, in the second quarter against the previous quarter (Q1 2016), data released by the Ministry of Development Planning and Statistics show.
Real GDP, calculated at 2013 constant prices in order to eliminate the effects of price changes, showed that, in volume terms, GDP grew by 2 percent over Q2 2015 and increased by 2.5 percent over the previous quarter (Q1 of 2016), according to the seventeenth edition of the ‘Window on Economic Statics of Qatar (Q2-2016)’ released by the Ministry. The Gross Value Added (GVA) contribution of the Mining and Quarrying sector, which include Oil and Gas industries, for Q2, 2016, was estimated at QR40.29bn, which witnessed a decline of 34 percent when compared with Q2, 2015. However, when compared against the previous quarter (Q1 of 2016), it registered an increase of 6.5 percent in Q2, 2016.
This drop, in nominal values, was attributed to the fall in the international price levels of crude oil, and to a reduction in volume. In real terms, Mining and Quarrying sector posted a decline of 1.2 percent over Q2, 2015, and an increase of 3.4 percent over previous quarter.
