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Qatar economy gained in 2010

Official figures released by the Qatar Statistics Authority (QSA) showed that the construction industry was one of the biggest gainers in the last quarter of 2010 in its latest report.

Qatar's GDP in Q4 of 2010 was estimated at US$35.6 billion at current prices, up 28.7 per cent in a year. This was a rise of 9.2 per cent over the previous quarter Q3, the reported stated, according to The Peninsula.

Construction activity grew by as much as 13.7 per cent in the last quarter of 2010 compared to the last quarter of the previous year. The increase over Q3 of 2010 stood at 7.5 per cent.

The QSA figures suggest that the hospitality business as well the financial services, insurance and real estate sectors jumped in Q4.

Finance, insurance, real estate and business-related services generated a gross value of US$3.4 billion in the Q4, registering an impressive 17.4 per cent increase over the corresponding quarter of 2009.

The general government sectors (health services, education and miscellaneous services) also witnessed a growth as they added value to the tune of US$3.5 billion, up 7.7 per cent over the last quarter of 2009. This sector saw higher increase (11 per cent) when compared to the previous quarter (Q3 of 2010).

The mining and quarrying sector, which accounts for 53 per cent of Qatar's overall GDP, was estimated at US$20.6 billion, up 39.4 per cent in a year.