Private Sector Exports Hit QAR8.9 Billion, Up 21% Year-on-Year in Q2 2022
In the recently released quarterly report of Qatar Chamber (QC), private sector exports value during the second quarter of 2022 amounted to QAR8.92 billion, a 21% year-on-year growth compared to QAR7.73 billion in the second quarter of 2021.
On a quarterly basis, it also surged 15.4% compared to the first quarter of 2022. The surge confirms the ability of the private sector and the Qatari economy in general, to adapt to normal and abnormal economic conditions and to achieve rising growth rates, especially after the COVID-19 pandemic.
The value of exports through the GSP model rose by 135% on a yearly basis, the Unified Arab model by 60.7%, the Unified GCC model by 249%, the General model by 10.3% and the Singapore model by 8.8%.
Exports according to type of goods
Fuel exports increased by 283%, reaching up to QAR2.5 billion compared to QAR657 billion in the first quarter of 2021; aluminium exports grew by 70.1% on a yearly basis, reaching QAR2.44 billion, compared to QAR1.43 billion in 2021.
Lotrene exports reached QAR388.5 million compared to QAR334.9 million last year, representing a 16% increase. Chemical fertiliser exports increased sharply by 5.652.4%.
Essential and industrial oils exports amounted to QAR1.54 billion, showing a decrease of 34.88% compared to QAR2.35 billion in the second quarter of 2021. Chemical substances exports amounted to QAR257.5 million, a decrease of 17.8% compared to the same period in 2021.
Paraffin exports amounted to QAR217.47 million, recording a decrease of 13.1%, while industrial gases exports amounted to QAR195.37 million, showing a decrease of 81.8%.
Similarly, steel exports amounted to QAR173.3 million, a year-on-year decrease of 73.6%, compared to QAR655 million in 2021. Petrochemical exports amounted to QAR7.5million, a 95.5% year-on-year decrease compared to QAR164.54 million in 2021.
These ten commodities exported by the private sector represent 91% of the total value of private export exports, according to the Certificates of Origin issued by Qatar Chamber during the second quarter of 2022, registering an 11.7% year-on-year growth compared to 2021 and a 9.5% quarter-on-quarter growth compared.
Destinations as per economic blocs
As for economic blocs and groupings, the Asian countries (excluding the GCC and Arab countries) were at the top of economic blocs that received exports of the private sector during Q2 with a share of 43.4% of the total exports, followed by GCC states which received exports amounting to QAR2.56 billion or a share of 28.7% of the total value.
In third place came the group of EU states, with exports representing 17.8% of the total value, followed by Arab countries (excluding GCC states) at 4.2% and the USA with exports amounting to a share of 4.1% of the total exports.
African Countries (excluding Arab countries) came in 6th place, which received 0.9% of the total exports, followed by other European countries which received exports estimated at QAR73.5 million or a share of 0.8%, and other American countries with a value of QAR8.2 million equivalent to 0.09%.
Then came the grouping of Oceania countries, with exports amounting to QAR1.9 million, equivalent to 0.02% of the total exports.
The number of countries which received Qatari exports in the second quarter of 2022 reached a total of 100 countries. The African grouping came to the forefront with 28 countries; Asia followed with 17 countries; the European Union and other American countries came next with 15 countries each; then the Arab countries (excluding GCC states) with 13 countries, the GCC and other European countries with five, and lastly, the USA and Australia in the Oceania grouping.
Private sector trade partners
India was on top of the countries of destination for private sector exports, with exports valued close to QAR1.8 billion, a share of 20.1% of the total exports, followed by Oman with almost QAR1.61 billion and a share of 18% and The Netherlands with about QAR953 million, a share of 10.7%.
China came in fourth place with almost QAR633 million, a share of 7.1%; and Turkey with exports amounting to about QAR518 million, equivalent to a share of 5.8%.
Kuwait came in sixth place receiving exports amounting to QAR462.6 million (5.2%), followed by UAE with almost QAR420 million (4.7%); USA with QAR364.2 million (4.1%); Bangladesh with almost QAR350.8 million (3.9%); and Singapore with exports amounting to QAR326.5 million or a share of 3.7% of the total value.
Together, these ten countries accounted for 83.4% of the private sector exports based on the certificate of origin during the second quarter of 2022, with total value equivalent to around QAR8,920.2 million.
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