14-10-2020
The Planning and Statistics Authority issued a press release for preliminary estimates of gross domestic product (GDP), current prices and constant prices (2018 = 100) for the second quarter of 2020. The data was prepared according to what was collected through the quarterly economic survey and administrative records of various source agencies.
The press release displays GDP estimates for the second quarter of 2020 compared to the corresponding quarter in the second quarter of 2019 and the previous quarter to the first quarter of 2020.
COVID-19 and GDP estimates for the second quarter of 2020
The second quarter of 2020 was marked by the initial phase of quarantine caused by the Covid-19 pandemic. During this period, many operating companies and commercial projects in the State of Qatar were closed or temporarily reduced their daily activities. This is evident in economic activities such as transportation, warehousing, retail trade, accommodation services, food, entertainment and leisure. Accordingly, this pandemic has affected the estimates of Qatar's GDP for the second quarter of 2020, as well as all countries of the world.
Despite the challenges that the census faced during the quarantine, data for the second quarter of the GDP were collected as usual, and the Planning and Statistics Authority is thankful for gathering the sources committed to cooperation.
Headlines:
• The gross domestic product (GDP) at current - nominal prices - decreased by 26.3% during the second quarter of 2020 compared to the estimates of the same quarter of the previous year, the second quarter of 2019.
• The quarterly GDP at constant prices – real – decreased during the second quarter of 2020 for the base year (2018 = 100) by 6.1% (year on year).
• The total value added for mining and quarrying activities at constant prices for the base year (2018 = 100) decreased by 1.3% during the second quarter of 2020 when compared to the same quarter in 2019.
• The total value added at constant prices - real - for the base year (2018 = 100) for non-mining activities decreased by 9.1% during the second quarter of 2020 when compared to the same quarter in 2019 (on an annual basis).
Estimates of nominal and real GDP for the second quarter of 2020
Estimates of the quarterly GDP at current prices amounted to about (116.59 billion Qatari Riyals) in the second quarter of 2020 compared to the revised estimates of the second quarter for the year 2019 of (158.14 billion Qatari Riyal), and this resulted in a decrease of 26.3%. Compared to the revised estimates for the first quarter of 2020 amounting to (152.16 billion Qatari Riyals), there was a decrease in the GDP by 23.4%.
In addition, the quarterly GDP estimates at constant prices (100 = 2018) were about (155.20 billion Qatari riyals) in the second quarter of 2020 compared to the revised second quarter estimates for 2019 of (165.31 billion Qatari riyals), resulting in a decrease of 6.1. And compared to the revised estimates for the first quarter of 2020 amounting to (165.82 billion Qatari Riyal), there was a decrease of 6.4%.
Mining and quarrying activities
Estimates of value added at current prices for this sector in the second quarter of 2020 amounted to (28.36 billion Qatari Riyals), registering a decrease of 50.2% compared to the revised estimates for the second quarter of 2019 which amounted to (56.97 billion Qatari Riyal). Compared to the estimates for the previous quarter (first quarter of 2020), which amounted to (51.84 billion Qatari Riyals), there was a decrease of 45.3% of the total added value for this sector.
The estimates of the value added at constant prices for this sector amounted to (62.60 billion Qatari Riyals) during the second quarter of 2020, and when compared with the estimates for the same quarter of 2019; the second quarter, which amounted to (63.45 billion Qatari Riyals), the activity witnessed a decrease of 1.3 %. And compared to the revised estimates for the first quarter of 2020, which amounted to (64.18 billion Qatari Riyal), a decrease of 2.5% was recorded for this sector.
Non-mining and quarrying Activities
Estimates of the value added at current prices for non-mining activities and quarries in the second quarter of 2020 amounted to (88.23 billion QR), registering a decrease of 12.8% compared to the revised estimates for the second quarter of 2019, which amounted to (101.17 billion QR). And compared to the revised estimates for the previous quarter, the first quarter of 2020, which amounted to (100.33 billion QR), there was a decrease of 12.1%.
Furthermore, the estimates of the added value at constant prices for this sector in the second quarter of 2020 amounted to a total of (92.60 billion QR), showing a decrease of 9.1% compared to the revised estimates for the second quarter of 2019, which amounted to (101.86 billion QR). In comparison with the revised estimates for the previous quarter, the first quarter of 2020, which amounted to (101.65 billion QR), a decrease in value added in constant prices was recorded by 8.9%.