Qatar Economic Outlook Issue Number 13

 600
 700
 800
 -
 20
 40
 60
 80
 100
 120
2004
2013
2018
G
DP
 (
Q
R 
bi
lli
on
)
A
s 
%
 o
f G
DP
Hydrocarbon GDp
Manufacturing
Construction
Services
GDP
Source: Planning and Statistics Authority
Figure (2) for Box (2-9): Change in share of major sectors as a 
percentage of GDP per base year change
1.6%
1.5%
-0.2%
-1.5%
1.3%
-0.1%
-1.5%
1.2%
0.7%
-2%
-2%
-1%
-1%
0%
1%
1%
2%
2%
2017
2018
2019
Estimated data (2013=100) (%)
Based on survey data (2013=100) (%)
Based on survey data (2018=100) (%)
Source: Planning and Statistics Authority
Figure (1) for Box (2-9): The rate of change of real GDP before and 
after changing the base year and using AES data 

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Qatar Economic Outlook 2021 - 2023 
90 
GDP as Determined by the 
Expenditure Approach
From the foregoing, it was found that 
updating the nominal GDP data with the data 
of annual economic surveys for 2017, 2018, 
and 2019, led to an adjustment of its annual 
rate of change, and, thus, to a change in the 
proportion of its components when utilizing 
the expenditure approach for the same 
period, as Figure (2-37) indicates. Compared 
to 2016, the proportion of capital formations 
decreased in favor of an increase in the 
proportion of the rest of the components, but 
to varying degrees. Perhaps the reason is 
that the data of the economic surveys 
corrected the estimates of the component of 
capital formations in which the inventory 
component is used as a "residual" – that is, 
to 
absorb 
statistical 
computational 
differences when calculating GDP by the 
expenditure approach, so that it is equal to 
the GDP by the production approach. 
As for the contribution of expenditure 
components to the formation of the average 
annual rate of change of real GDP during the 
period (2014-2019), it has been oscillated 
between positive and negative. Yet, exports 
continued to lead the changes; when its 
contribution increases, the rate of change 
moves upwards, and when it decreases, it 
moves downwards, as shown in Figure (2-
38).
It is noted that net foreign trade (exports of 
goods and services minus imports of goods 
and services) contributes to the occurrence 
of successive economic cycles of the Qatari 
economy with its different stages between 
growth and contraction. It is noted that when 
net foreign trade achieves a surplus, 
aggregate demand increases, perhaps 
because such a surplus is used to increase 
consumption together with boosting private 
and government investment, and vice versa, 
that is, a deficit subsequently affects 
consumption and investment rates. However, 
the year 2020 was an exceptional year due to 
the repercussions of measures to contain 
Covid-19 
on 
aggregate 
demand 
(consumption and investment).