Qatar’s Gross National Income (GNI) has risen by 3.2% to QR183.6bn in the first quarter of this year, compared with Q1, 2013, the Ministry of Development Planning and Statistics said in a quarterly report yesterday.
Gross National Income, MDPS said, was derived by adding the country’s net property income from the rest of the world to its national GDP.
On a quarter-on-quarter basis, GNI in Q1, 2014, has gone up by 4% when compared to the GNI of Q1, 2013. The comparable rise in GDP was 2.1% during the same period.
The higher rise in GNI in comparison to the GDP increase was due to the sharp fall of 26.9% noticed in net property income from the rest of the world (in Q1, 2014 compared with Q4, 2013).
The ‘Gross Saving’ of the nation, which is the difference of Gross Disposable National Income and the Final Consumption Expenditure was estimated at QR116.89bn in Q1, 2014 compared with QR118bn in Q1, 2013, which indicates a fall of 1% in the first quarter of 2014.
The Household Final Consumption Expenditure (HFCE), also termed as Private final consumption expenditure (PFCE), consists of expenditure incurred by resident households on consumption goods or services.
However, HFCE excludes expenditure on fixed assets in the form of dwellings or on valuables as these relate to Gross Capital Formation.
The Q1, 2014 HFCE was estimated at QR26.5bn compared with QR24.83bn in Q1, 2013, showing an increase of 6.7%.
“Rising population in the country has been the prime cause of such a rise,” the MDPS report said
The share of HFCE in the GDP in Q1, 2013 and 2014 are estimated at 13.2% and 13.8% respectively.
Government Final Consumption Expenditure (GFCE) in Q1, 2014 was estimated at QR24.98bn compared with QR23.74bn in Q1, 2013, showing a rise of 5.2%.
The share of GFCE in nominal GDP during Q1, 2013 and Q1, 2014 were estimated at 12.7% and 13.0% respectively.
The total value of exports (at FOB) from the country was placed at QR146.03bn in Q1, 2014 compared with QR141.15bn in Q1, 2013, showing an increase of 3.5%.
This Y-o-Y increase in Q1, 2014 was mainly driven by the rising exports of chemicals & related products, mineral fuels, lubricants & related materials; besides an increase that was seen in some of the services such as travel and transportation.
The share of exports in nominal GDP during Q1, 2013 and Q1, 2014 were estimated at 75.3% and 75.9% respectively.
The total value of imports (at FOB) in the country was placed at QR59.37bn in Q1, 2014 compared with QR52.45bn in Q1, 2013, showing an increase of 13.2%.
This Y-o-Y jump in imports was primarily because of the increases seen in the imports of machinery and transport equipment, miscellaneous manufactured articles, food and live animals, chemicals and related products, other manufactured goods and travel and transportation services.
The share of imports during Q1, 2013 and Q1, 2014 were estimated at 28.0% and 30.9% respectively, the Ministry of Development Planning and Statistics said.