Posted on May 12, 2015

The Ministry of Development Planning and Statistics (MDPS) released the eleventh issue of the quarterly publication “Window on Economic Statistics of Qatar”. The reference quarter of this issue is the fourth quarter of 2014 (Q4 2014). The main objective of this report is to collate in one document all the latest key macroeconomic indicators, including national accounts and Prices, public finance, and balance of payments.

Part 1 contains a Dashboard that compares the economic performance of Qatar with other economies and regions in terms of three main indicators, namely real GDP growth rate, inflation rate as measured by the CPI and current account balance as % of GDP. 

The economic performance of Qatar in terms of these three indicators compares Qatar favorably with that of the other countries and regions. It is worth mentioning that Qatar real GDP growth rate of 6.2% is among the highest performance in 2014, almost similar to that of Developing Asia which also grew at 6.7%, while the estimate for the “World” works out to be 3.6%, and that for Advanced economies is 2.2%.

As regards, the CPI inflation, Qatar inflation rate of 2.8% in 2014 is slightly lower than that of the World (3.5%) but much lower than the 8.4% posted in the Middle East and North Africa, and the 5.5% registered in the “Emerging markets and developing economies”. Qatar is among the few countries which post positive current account balance representing around 25.9% of GDP.

Part 2 presents an analysis of the latest economic statistics published by the Economic Statistics Department of MDPS relating to Quarterly GDP, CPI, PPI, Exports and Imports and compares the performance in the fourth quarter of 2014 with that of the corresponding quarter of 2013 and, with that of the previous quarter.

Part 3 contains Articles on selected topics, and provides an opportunity for the MDPS to inform users of any change in compilation methodology used for some of the important economic indicators. This issue’s article is entitled : “Methodology used for the Rebasing of the National Accounts Aggregates from year 2004 to year 2013”. The National Accounts Section of the MDPS, is currently carrying out a thorough exercise of benchmarking and rebasing of the national accounts aggregates.

The methodology used for the benchmarking and rebasing exercise, which has incorporated results of all the major surveys conducted in 2012 and 2013 by the MDPS, in particular the Household Expenditure and Income Survey 2012/2013, is explained. The implications of a change in base year on the calculation of growth rates is also illustrated through an example.