The value of private sector exports in the first quarter of 2024 (Q1) amounted to QAR 2.53 billion, making a 6% increase on a quarterly basis compared to QAR 2.39 billion in the fourth quarter of 2023, according to the quarterly report released by Qatar Chamber recently.

The report showed that according to the type of certificates of origin issued by the Chamber this growth was due to the increase in exports through the General Model and the Unified GCC Model, while exports through the Unified Arab showed a decrease compared to Q4/2023.

In Q1/2024, exports through the General Model rose by 12% (from QAR 1.79 to QAR 2 billion). Similarly, exports through the Unified GCC Model rose by 10% (from QAR 398 to QAR 438 million). On the other hand, exports through the Unified Arab Model decreased by 54% (from QAR 202 to QAR 92.9 million).

Exports according to Type of Goods

Based on the type of certificates of origin issued by the chamber in Q1/2024, the value of fuel exports amounted to QAR 528 million, showing an increase by 8.6%compared to QAR 486 million in Q4/2023.

Aluminium exports reached QAR 438 million, a decline of 10.5% compared to its value in Q4/2023, which amounted to QAR 489 million.

Essential and Industrial Oils exports amounted to QAR 392 million, a decrease of 13.4%, compared to QAR453 million in Q4/2023.

Steel exports amounted to QAR 275 million, registering an increase of 89.4% compared to QAR 145 million in Q4/2023.

The report noted that Industrial Gases exports amounted to QAR 250 million, recoding an increase of 25.2%.

Lotrene exports amounted to QAR 131 million, significantly surged by 7811% compared to QAR 1.66 million in Q4/2023.

Chemical Substances exports amounted to QAR 93 million in Q1/2024, recording a decrease on a quarterly basis by 26.7% compared to its value in Q4/2023, which amounted to QAR 127 million.

Petrochemicals exports amounted to QAR91 million, showing a decrease of 15.7% compared to its value in Q4/2023, which amounted to QAR107 million.

Paraffin exports amounted to QAR28.1 million; an increase of 184.9% compared to QAR 9.87 million in Q4/2023.

Chemical Fertilizers exports amounted to QAR10.5 million; a decrease of 82.2% compared to QAR 58.1 million in Q4/2023.

The Chamber’s newsletter explained that these ten commodities exported by the private sector represent 88 percent of the total value of private export exports, according to the certificates of origin issued by the Qatar Chamber during Q1/ 2024, which amounted to QAR 2,24 billion, registering a 7.6 quarter-on-quarter growth compared to Q4/2023.

Destinations as per economic blocs

As for economic blocs and groupings, the Asian countries (excluding GCC and Arab countries) were at the top of economic blocs that received exports of private sector during Q1/2024 which amounted to QAR 1.06 billion with a share of 41.90% of the total exports, followed by the European Union which received exports amounted to QAR748.60 million or a share of 29.5% of the total value.

In third place came the group of GCC states, with exports totalling QAR 571.5 million representing 22.5% of the total value, followed by Arab countries excluding Arab countries excluding GCC states that received QAR112.8 million, a share of 4.4% and the African countries with exports amounted to QAR14.1 million, or a share of 0.56% of the total exports.

The USA came in the sixth place, which received 0.39% of the total exports, with a value of QAR 9.9 million, followed by other American countries which received exports estimated at QAR6.28 million or a share of 0.25%, and Other European Countries with a value of QAR0.18 % of QAR 4.68 million.

Then came the grouping of Oceania countries, with exports amounting to QAR 4.49 million, equivalent to 0.177% of the total exports.

The number of countries receiving Qatari exports in Q1/2024 was 101 countries in the above economic groupings. The African grouping came to the forefront with 24 countries. Asia came then with 22 countries, followed by the European Union with 20 countries, Arab countries excluding GCC states with 14 countries, other American countries with 9 countries, the GCC with 5 countries, other European countries with 5 countries, the United States of America and one country (Australia) in the Oceania grouping.

Private sector trade partners

In Q1/2024, Netherlands was at the top of the countries of destination of private sector exports with close to QAR408.6 million, a share of 16.1% of the total exports.

It is followed by India with almost QAR350 million and a share of 13.8% and Oman with about QAR246 million, a share of 9.7%.

Turkey came in fourth place with almost QAR219 million, a share of 8.7% and China with exports amounted to about QAR 202 million, a share of 8%.

Germany came in the sixth place which received exports amounting to QAR 172 million, a share of 6.8%, followed by UAE with almost QAR113 million, a share of 4.5%, Spain with QAR103 million, a share of 4.1%, KSA with almost QAR90.1 million or 3.6% and Kuwait with exports amounting to QAR76.6 million or a share of 3% of the total value.

Together, these ten countries accounted for 78.2% and a value of QAR 1.98 billion of private sector exports according to the certificate of origin in Q1/2024, totalling around QAR2.53 billion.

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