The Planning and Statistics Authority (PSA) have released the preliminary estimates of Gross Domestic Product (GDP) at current and constant prices for the fourth quarter (Q4) of 2020. The estimates have been produced with data collected through the Quarterly Economic Indicator Survey and from other source agencies.
This press release presents the estimates of GDP for the fourth quarter of 2020 and compares it with the GDP estimates for the fourth quarter of 2019 as well as the revised estimates for the third quarter of 2020.
- Gross Domestic Product at current prices (Nominal GDP) decrease by 14.4% in the fourth quarter of 2020 over the fourth quarter of 2019.
- Gross Domestic Product at constant prices Real GDP, )2018=100) decrease by 3.9% in the fourth quarter of 2020, (year on year).
- Gross Value Added at constant 2018 prices for Mining and Quarrying activities decrease by 3.3% in the fourth quarter of 2020 compared to the same quarter in 2019.
- Gross Value Added at constant 2018 prices for Non-Mining and Quarrying activities decrease by 4.2% in the fourth quarter of 2020, (year on year).
Fourth Quarter 2020 Nominal and Real GDP Estimates
The quarterly GDP at current prices in Q4 of 2020 is estimated at (QR 136.73 billion). This represents a decrease of 14.4% compared to the estimate of Q4 of 2019 placed at (QR 159.65 billion). When compared to previous quarter Q3 of 2020 revised estimate of (QR 127.31 billion), an increase of 7.4% is recorded.
The quarterly GDP at constant prices (2018=100) shows a decrease of 3.9% in Q4 of 2020 (QR 163.00 billion) compared to the estimate of Q4 of 2019 (QR 169.64 billion). When compared to Q3 of 2020 revised estimate (QR 163.82 billion), a decrease of 0.5% is also recorded.
Mining and Quarrying Activities
The nominal Gross Value Added (GVA) estimate of Mining and Quarrying activities is estimated at (QR 38.99 billion) in Q4 2020, which shows a decrease of 28.9% over the estimate of Q4 2019 placed at (QR 54.81 billion). When compared to Q3 of 2020 revised estimate (QR 33.70 billion), an increase of 15.7% in the GVA of this sector is recorded.
The real GVA of these activities is estimated at (QR 60.32 billion) in Q4 2020, which shows a decrease of 3.3% compared to the estimate of Q4 2019 (QR 62.40 billion). Compared to Q3 2020 revised estimate (QR 63.01 billion), a decrease of 4.3% in the real GVA of this sector is also recorded.
Non-Mining and Quarrying Activities
The nominal GVA estimate of Non-Mining and Quarrying activities is estimated at (QR 97.74 billion) in Q4 2020, which shows a decrease of 6.8% over the estimate of Q4 2019 (QR 104.84 billion). Compared to the previous quarter revised estimate (QR 93.61 billion), an increase of 4.4% is recorded.
The real GVA of Non-Mining and Quarrying activities is estimated at (QR 102.69 billion) in Q4 2020, which shows a decrease of 4.2% over the estimate of the corresponding quarter in 2019 Q4 (QR 107.24 billion). When compared to the Q3 2020 revised estimate (QR 100.81 billion), an increase of 1.9% is also recorded.
