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FINANCIAL NEWS
Qatar’s Q1 nominal GDP rises by 28.4%
21 Aug 2011
(MENAFN) Qatari Statistics Authority said that in the year’s first quarter, the country’s nominal gross domestic product (GDP) grew by 28.4 percent due to higher oil prices and gas exports, reported Emirates 24/7.
The authority added that in the period, GDP reached USD38.9 billion from USD30.3 billion in last year’s first quarter, whereas it surged by 12.2 percent from USD34.7 billion recorded in 2010’s fourth quarter.
It also said that in terms of sectors, in the quarter, the hydrocarbon sector reached USD22 billion with a rise of 44.2 percent from 2010’s USD15.4 billion, while it increased 19.7 percent to USD3.8 billion at the manufacturing sector.
It is worth noting that due to a surge in oil prices and the growth in the country’s liquefied natural gas (LNG) exports and infrastructure projects, in 2011, Qatar’s real GDP is forecasted to grow by around 20 percent from 16.3 percent in 2010 according to the Arab Monetary Fund (AMF).
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