Gulf Times – Qatar economy surges 28% in the first quarter

Qatar’s economy (nominal) grew by a robust 28.4% year-on-year in the first quarter (Q1) of this year mainly due to a double-digit growth in seven of the 13 sectors, indicating the fruition of the country’s diversification strategy.

On a quarter-to-quarter analysis, the Qatar Statistics Authority (QSA) found that the mining, manufacturing, construction and finance sectors have been consistently rising since the third quarter of 2010; an indicator of the robustness and value addition in the world’s fastest growing economy.

“The quarterly gross domestic product (GDP) at current prices is estimated at QR141.84bn in Q1 of 2011 compared to QR110.46bn in Q1 2010,” said the QSA, which used information collected through the quarterly economic indicator survey and from other agencies and ministries/departments.

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