Economy of Qatar grows 4.3% in third quarter
In the third quarter of 2022, Qatar’s quarterly gross domestic product (GDP) at constant prices rose by 4.3% year over year.
The quarterly GDP at constant prices is predicted to be QR 175.028 billion in Q3 of 2022, up from the expected QR 167.782 billion in Q3 of 2021, according to figures issued on Wednesday by the Planning and Statistics Authority. This represents an increase of 4.3%. The quarterly GDP increased by 3.6% to QR 168.879 billion as compared to Q2 of the updated 2022 projection.
In Q3 2022, the expected quarterly GDP at current exchange rates is QR 228.423 billion. When compared to the projection for Q3 of 2021, which was set at QR 174.814 billion, this indicates a rise of 30.7%. An increase of 5.5% is shown when the 2022 updated estimate of QR 216.468 billion is compared to the previous quarter (Q2).
The expected nominal gross value added (GVA) for mining and quarrying operations in Q3 2022 is estimated to be QR 105.896 billion, representing an increase of 56.2% over the Q3 2021 estimate of QR 67.812 billion. The GVA of this industry increased by 0.8% as compared to the previous quarter’s Q2 2022 revised estimate (QR 98.086 billion).