A 5.2% inflation-adjusted growth in the non-hydrocarbons masked the 1.7% decline in the mining and quarrying sectors, leading the country's GDP (gross domestic product) at constant prices (base year 2013) grow 2.5% to QR166.26bn in the review period. The agriculture, forestry and fishing sectors jumped 5.7%, said the figures released by the Planning and Statistics Authority (PSA).
On a quarterly basis, the country’s real GDP was down 0.3% during Q1, 2022 although the mining sector grew 0.9%, even as non-mining sectors declined 0.9%. The farm sector had seen a huge 9.4% surge on a quarterly basis.
Within non-hydrocarbons, on a yearly basis, the transport and storage sector is estimated to have grown 24.9% in real terms, information and communication (10.5%), construction (8.6%), real estate (7.6%), wholesale and retail trade (3.7%) and utilities (1.7%); while manufacturing tanked 4%, accommodation and food services (0.7%) and finance and insurance (0.1%).
On a quarterly basis, the accommodation and food service sector plummeted 23.4%, finance and insurance (12.8%), wholesale and retail trade (10.3%), manufacturing (5.2%), utilities (4.2%), information and communication (3.9%) and real estate (2.2%); whereas construction sector saw a 4.3% growth during the review period.
On a nominal basis (at current prices), Qatar's GDP is estimated to have soared 33.4% and 13.2% year-on-year and quarter-on-quarter respectively at the end of Q1, 2022.
The hydrocarbons saw a healthy 62.6% and 32.4% surge on yearly and quarterly basis respectively and in the case of non-hydrocarbons, the sector saw 17.6% and 2.2% jump year-on-year and quarter-on-quarter respectively in the review period.
Within the non-hydrocarbons sector, there was a stupendous 48.1% yearly surge in manufacturing in nominal terms, 44.2% in transport and storage, 18.1% in construction, 14.7% in finance and insurance, 11.9% in information and communication, 9% in wholesale and retail trade, 8.1% in real estate, 1.1% in accommodation and food services and 0.7% in utilities during the review period.
On a quarterly basis in nominal terms, the manufacturing sector saw 18.1% growth, transport and storage (14.1%), utilities (5.4%), finance and insurance (2.6% and real estate (0.1%); whereas accommodation and food service tanked 24.3%, wholesale and retail trade (10.6%) and construction (2.3%).
The import duties, on real terms, are estimated to have risen 15.5% and 13.7% year-on-year and quarter-on-quarter respectively at the end of first quarter 2022. On nominal terms, they reported 21.3% and 15.1% jump respectively in the review period.