Press Release Q1 2015 GDP Expenditure English Revised

Quarterly Sequence of Accounts, Estimates of National Income,
Saving and Expenditure Components of GDP
th

12 July, 2015

The Ministry of Development Planning and Statistics (MDPS) have
released the quarterly sequence of accounts providing preliminary estimates of
the National Income, Saving and also the expenditure components of GDP for
the First quarter of 2015 at current prices.
Highlights
%Change
[Y-o-Y]
Q1, 15
/Q1, 14

%Change
[Q-o-Q]
Q1, 15
/Q4, 14

Gross National Income (GNI)

-11.9%

-3.5%

Gross National Saving (GNS)

-23.1%

-9.1%

Household Final Consumption Expenditure (HFCE)

13.4%

6.5%

Government Final Consumption Expenditure (GFCE)

9.4%

4.6%

Gross Capital Formation (GCF) or Gross Investments

18.3%

9.8%

Export of Goods and Services (F. O. B)-EXP

-35.2%

-19.3%

Imports of Goods and Services (F.O.B)-IMP

-9.4%

-4.1%

Indicators

Quarterly Sequence of Accounts for the total economy of Qatar

The Quarterly Sequence of Accounts (QSOA) for the total economy of
Qatar provides a comprehensive picture of current economic
developments in the country. The major macroeconomic variables like
GDP, National Income, Savings etc. which are the balancing items of
respective accounts are discussed in the following paragraphs. Table (1)
presents the QSOA for the Q1, 2015 with a comparison to the estimates of
Q1, 2014 and Q4, 2014.
National Income

The quarterly estimates of Gross National Income (GNI), for the Q1, 2015
is placed at 169.53 Bn QR which shows a decrease of 11.9%, when
compared to the GNI estimate of Q1, 2014 [192.35 Bn QR]. Compared to
the previous quarter (Q4, 2014), estimate of 175.64 Bn QR, a decline of
3.5% in the GNI of this quarter has been recorded.

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Saving of the Nation

The Gross National saving has been estimated at 94.49 Bn QR in Q1,
2015 as against 122.83 Bn QR registered in Q1, 2014, showing a Yearon-year (Y-o-Y) fall of 23.1%. Compared to the previous quarter (Q4,
2014), the gross saving has gone down by 9.1%.

The gross saving ratio to nominal GDP in Q1, 2015 is placed at 54.6%.
The comparative figures for Q1, 2014 and Q4, 2014 are estimated to be
61.1% and 56.6%.
More details are available in Table (1). Towards the end of this table,
some of the other key economic indicators, shown as a percentage of
nominal GDP of the country, are also presented for analytical purposes.
Expenditure components of GDP

The estimates of the expenditure components of GDP namely: Household
Final Consumption Expenditure (HFCE), Government Final Consumption
Expenditure (GFCE), Gross Capital Formation (GCF); Exports of Goods
and Services (F.O.B); and Imports of Goods and services (F.O.B) for the
Q1, 2015 along with the same for Q1, 2014 (for Y-o-Y comparison) and
Q4, 2014 (for Q-o-Q comparison] are presented in the following
paragraphs. Table (2) may also be referred.
Q1 Expenditure components of nominal GDP (in Mn QR)

Q1, 2014

Q1, 2015

94,050

72,260

53,815

GCF

59,366

GFCE

145,122

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26,501

27,803

HFCE

28,999

61,088

31,534

EXP

IMP

Expenditure components of GDP
Q1, 2014

Expenditure components of GDP
Q1, 2015
ExportsImports
23%

ExportsImports
43%
Household Final
Consumption
Expenditure
14%

Gross Capital
Formation
30%

Government
Final
Consumption
Expenditure
13%

Gross Capital
Formation
42%

Household
Final
Consumption
Expenditure
18%

Government
Final
Consumption
Expenditure
17%

Household Final Consumption Expenditure (HFCE)

The Household Final Consumption Expenditure (HFCE) in Q1, 2015 has
been placed at 31.53 QR as against 27.80 Bn QR estimated in Q1, 2014,
showing an increase of 13.4%. Rising population and the price rise of
consumer items in the country have led to this rise.
The share of HFCE in the nominal GDP, in Q1, 2015 is estimated at
18.2%. The corresponding figures for Q1, 2014 and Q4, 2014 are 13.8%
and 16.1% respectively.
Government Final Consumption Expenditure (GFCE)

The Government Final Consumption Expenditure (GFCE) for Q1, 2015
has been estimated at 29.0 Bn QR as against 26.50 Bn QR recorded in
Q1 of 2014, showing a Y-o-Y rise of 9.4%. This increase in Government
spending is in line with the rise in production of public goods and
services to cater the growing population.
The percentage share of GFCE in nominal GDP during Q1, 2015 has
been estimated at 16.8%. The corresponding shares for Q1, 2014 and
Q4, 2014 have been 13.2% and 15.1% respectively.
Gross Capital Formation

The Gross Capital Formation (GCF) has been estimated at 72.26 Bn QR
in Q1 of 2015 as against 61.09 Bn QR in Q1, 2014, showing an increase
of 18.3%. Major investments in construction sector especially in the
infrastructure related projects continue to impact the rise.
The percentage share of GCF in nominal GDP during Q1, 2015 has been
estimated at 41.8%. The corresponding shares for Q1, 2014 and Q4,
2014 have been 30.4% and 35.9% respectively.

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Exports of goods and services including re-exports

The total value of exports (at F.O.B) from the country has been estimated
at 94.05 Bn QR in Q1 of 2015 as against 145.12 Bn QR in Q1, 2014,
showing a steep decline of 35.2%. This Y-o-Y fall in the total exports
during Q1, 2015 is noticed mainly in Mineral fuels, lubricants and related
materials.
The percentage share of exports in nominal GDP during Q1, 2015 has
been estimated at 54.4%. The corresponding shares for Q1, 2014 and
Q4, 2014 exports in GDP have been 72.1% and 63.5% respectively.
Imports of Goods and services

The total value of imports (at F.O.B) in the country has been estimated at
53.82 Bn QR in Q1 of 2015 as against 59.37 Bn QR recorded in Q1,
2014, showing a fall of 9.4%. This Q1, 2015, [Y-o-Y] fall in the imports is
seen in miscellaneous manufactured articles, transport and
communication service, etc.

The percentage share of imports in nominal GDP during Q1, 2015 has
been estimated at 31.1%. The corresponding shares for Q1, 2014 and
Q4, 2014 have been 29.5% and 30.6% respectively.
For further details on expenditure components of Quarterly GDP and sequence
of accounts, ministry’s website at www.mdps.gov.qa may be referred.
The next Press Release on Quarterly Sequence of Accounts, Estimates of
National Income, Savings and Expenditure Components of GDP for the second
quarter, 2015 will be published on the 12th October, 2015.

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TABLE: (1)
SEQUENCE OF ACCOUNTS FOR THE TOTAL ECONOMY AT
CURRENT PRICES (Q1, 2015)
(Mn QR)
2014

Accounts

2015

Percentage change

Codes

Q1

Q4

Q1, 15
/Q1, 14

Q1

Q1, 15
/Q4, 14

Production account
B.1g

201,148

183,565

173,028

-14.0

-5.7

Gross domestic product (GDP)

B.1g

201,148

183,565

173,028

-14.0

-5.7

Compensation of employees

D1

-121

-128

-137

13.2

7.0

Property income

D.4

-8,677

-7,797

-3,365

-61.2

-56.8

Gross national income (GNI)

B.5g

192,350

175,640

169,526

-11.9

-3.5

Gross national income

B.5g

192,350

175,640

169,526

-11.9

-3.5

Other current transfers

D.7

-15,214

-14,365

-14,508

-4.6

1.0

Gross disposable income (GDI)

B.6g

177,136

161,275

155,018

-12.5

-3.9

Gross disposable income (GDI)

B.6g

177,136

161,275

155,018

-12.5

-3.9

Final consumption expenditure

P.3

54,304

57,351

60,533

11.5

5.5

Households

P.3a

27,803

29,621

31,534

13.4

6.5

Government

P.3b

26,501

27,730

28,999

9.4

4.6

Saving, gross

B.8g

122,832

103,924

94,485

-23.1

-9.1

Saving, gross

B.8g

122,832

103,924

94,485

-23.1

-9.1

Capital transfers, receivable/payable, Net

D.9

-5,317

-4,287

-498

-90.6

-88.4

P.5

61,088

65,840

72,260

18.3

9.8

K.2

-

-

-

-

-

B.9

56,427

33,797

21,727

-61.5

-35.7

2014
Q1

Q4

Q1

Gross domestic product (GDP)

Primary distribution of income account

Secondary distribution of income account

Use of disposable income account

Capital account

Gross capital formation
Acquisitions less disposals of non-produced nonfinancial assets
Net lending (+) / Net borrowing (–)
* Preliminary estimates

Economic Indicators

2015

Net Property Income / GDP ratio (%)

-4.3

-4.2

-1.9

Current Transfers /GDP Ratio (%)

-7.6

-7.8

-8.4

GDI/GDP Ratio (%)

88.1

87.9

89.6

Final Consumption expenditure share in GDP (%)

27.0

31.2

35.0

GCF or Gross investment share in GDP (%)

30.4

35.9

41.8

Gross Saving of the country as percentage of GDP (%)

61.1

56.6

54.6

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TABLE: (2)
EXPENDITURE COMPONENTS OF GDP AT CURRENT PRICES
(Q1, 2015)
(Mn QR)

2014

SNA
Code

Items

2015

Q1

Q4

Q1

27,803

29,621

31,534

- Percent of Total GDP

13.8

16.1

18.2

- Percent year on year change

12.1

10.0

13.4

26,501

27,730

28,999

13.2

15.1

16.8

8.8

8.1

9.4

61,088

65,840

72,260

- Percent of Total GDP

30.4

35.9

41.8

- Percent year on year change

21.9

15.0

18.3

145,122

116,481

94,050

72.1

63.5

54.4

2.8

-11.6

-35.2

59,366

56,107

53,815

- Percent of Total GDP

29.5

30.6

31.1

- Percent year on year change

13.2

3.1

-9.4

201,148

183,565

173,028

7.0

-1.9

-14.0

Household Consumption Expenditure

Government Final Consumption
Expenditure

P.3a

P.3b

- Percent of Total GDP
- Percent year on year change
Gross capital formation *

P.5

Exports (goods and services)-[F.O.B]

P.6

- Percent of Total GDP
- Percent year on year change
Imports (goods and services)-[F.O.B]

Gross Domestic product

P.7

B.1G

- Percent year on year change
* Includes Statistical discrepancy
Notes:

(I) All figures are preliminary estimates, but the figures of 2014 are revised;
(II) Numbers may not add to totals due to rounding; and
(III) Percent change based on numbers prior to rounding.
January-March

Q2

Year –on-previous Year

Y-o-Y

April-June

Q3

Quarter-on-previous Quarter

Q-o-Q

July-September

Q3

October-December

Q4

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