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Qatar’s Fourth Quarter Nominal GDP Grows 7.8 Per Cent
DUBAI — Qatar’s economy grew 7.8 per cent at current prices in the fourth quarter to 83.2 billion riyals ($22.85 billion), down from a more than 60-per cent surge in the third quarter, as energy prices slumped, official data showed.
Fourth-quarter nominal gross domestic product (GDP) for the world’s largest exporter of liquefied natural gas rose from 77.2 billion riyals a year earlier, the Qatar Statistics Authority said in a statement, without giving real GDP growth data.
Qatar is set to be the fastest-growing economy in the Gulf region this year. Its minister of state for energy and industry affairs said last month the economy would expand 10 per cent in real terms this year.Qatar’s economy expanded 44 percent to 372.38 billion riyals at current prices for all of 2008, when oil prices rallied to a record peak above $147 a barrel in July, the data showed.
But oil prices have slumped more than $100 a barrel since then as the global financial crisis brought to an end an economic boom in the oil-exporting Gulf region.
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