DOHA: The government final consumption expenditure (GFCE) of Qatar for the second quarter of 2015 (Q2, 2015) has been estimated at QR29.70bn as against QR27bn recorded during the same period in 2014 . The 10 percent year-on-year increase in the government spending is in line with the rise in production of public goods and services.
The percentage share of GFCE in the nominal GDP during Q2, 2015 has been estimated at 19.4 percent. The corresponding shares for Q2, 2014 and Q1, 2015 have been 14.3 percent and 18.3 percent respectively, data disclosed by the Ministry of Development and Statistics (MDPS) said.
The MDPS’s ‘Quarterly sequence of economic accounts (QSOA) for the total economy for Q2, 15’ released yesterday said the quarterly estimates of gross national income (GNI) stood at QR150.81bn for Q2, 2015, a decrease of 17.2 percent when compared to the GNI estimate of Q2, 2014 (QR182.09bn).
The QSOA for the total economy of Qatar that provides a comprehensive picture of current economic developments in the country noted the gross national saving (GNS) has been estimated at QR77.15bn in Q2, 2015 as against QR110.10bn recorded in Q2, 2014, a year-on-year fall of 29.9 percent. Compared to the previous quarter (Q1, 2015), the gross saving has gone down by 4.2 percent. The key expenditure component, Household Final Consumption Expenditure (HFCE) in Q2, 2015 has been placed at QR31.61 as against QR28.42bn estimated in Q2, 2014, an increase of 11.2 percent. Rising population and the price rise of consumer items triggered the rise.
The share of HFCE in the nominal GDP, in Q2, 2015 is estimated at 20.7 percent. The corresponding figures for Q2, 2014 and Q1, 2015 are 15.0 percent and 19.9 percent, respectively.
The gross capital formation (GCF) has been estimated at QR60.14bn in Q2 of 2015 as against QR60.62bn in Q2, 2014, a marginal decline of 0.8 percent. The percentage share of GCF in nominal GDP during Q2, 2015 has been 32.0 percent and 37.6 percent, respectively. The total value of exports from the country has been estimated at QR86.41bn in Q2, 2015 as against QR131.50bn in Q2, 2014, a steep decline of 34.3 percent. This year-on-year fall in the total exports during Q2, 2015 is noticed mainly in mineral fuels, lubricants and related materials.
The percentage share of exports in nominal GDP during Q2, 2015 has been estimated at 56.5 percent. This corresponding shares for Q2, 2014 and Q1, 2015 exports in GDP have been 69.5 percent and 56.7 percent, respectively.
The total value of imports in the country has been estimated at QR54.88bn in Q2, 2015 against QR58.24bn recorded in Q2, 2014, a fall of 5.8 percent. The fall in the imports is seen in crude materials, inedible, except fuels, transport and communication services.
The percentage share of imports in nominal GDP during Q2, 2015 has been estimated at 35.9 percent. The corresponding shares for Q2, 2014 and Q1, 2015 were 30.8 percent and 32.6 percent, respectively.
