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Mon 30 Dec 2013 05:00 PM

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Qatar GDP growth quickens to 6.3% in Q3

New figures released by Qatar Statistics Authority reveal that growth rose from 4.3% in Q2

Qatar GDP growth quickens to 6.3% in Q3
Currency from the Gulf state of Qatar, a Qatari Riyal sits with a U.S. dollar displayed for a photograph in Dubai, United Arab Emirates, on Wednesday, Nov. 21, 2007. Gulf Arab states may fail to keep consumer prices in check by revaluing their currencies against the dollar, according to strategists at HSBC Holdings Plc and Citigroup Inc. Photographer: Charles Crowell/Bloomberg News

Growth in Qatar's gross domestic product, adjusted for inflation, accelerated slightly to 6.2 percent year-on-year in the third quarter of 2013, from 6.0 percent in the second quarter, the Qatar Statistics Authority said on Monday.

Third-quarter GDP expanded 4.3 percent from the previous quarter.

Output in the mining and quarrying sector, which includes oil and gas production and accounts for more than 40 percent of GDP, grew 1.8 percent from a year earlier and 3.5 percent quarter-on-quarter.

The financial and real estate sector jumped 10.5 percent year-on-year, while the construction sector expanded 13.0 percent on the back of government spending on infrastructure projects.

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