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Qatar Chamber revealed that private sector exports grew by 6% in the first quarter of 2024, reaching a value of approximately QR2.53 billion based on certificates of origin issued by the chamber, while in the last quarter of 2023, this figure reached QR2.39 billion.
The Chamber said in its quarterly report released today that the value of exports increased by type of certificate of origin, through the common certificate model and the GCC model, while the value of exports of the Arab region model decreased. When compared with the previous quarter (Q4 2023), the value of the common model increased by 12%, from 1.79 billion riyals to 2 billion riyals, the value of the GCC model increased by 10%, from 398 million riyals, while the value of the Arab region model certificate decreased by 54%, from 202.7 to 92.9 million riyals.
The report said that when comparing the export values ​​by commodity type and comparing them with the values ​​of the last quarter of 2023, we found that the export value of the fuel product group increased by 8.6% to about 528 million riyals compared to 486 riyals in the previous quarter, the export of aluminum products was about 438 million riyals, a decrease of 10.5% from about 489 million riyals in the previous quarter, the export of base and industrial oils was about 392 million riyals, a decrease of 13.4%, and as for iron products, the export value was about 275 million riyals, an increase of 89.4%. It was about 145 million riyals in the previous quarter.
The report shows that industrial gas exports increased by 25.2% to about 250 million riyals, while Luthrene (low-density polyethylene) exports reached 131 million riyals, a record high, up 7811% year-on-year. Its value in the previous quarter (Q4 2023) was only about (166) million riyals, while the value of chemical exports was about 93 million riyals, down 26.7%, and the value of petrochemical exports was about 91 million riyals, down 15.7% year-on-year.
The report said that paraffin exports in the first quarter of 2024 amounted to about 28.1 million riyals, an increase of 184.9%, while exports in the previous quarter amounted to about 9.87 million riyals, while fertilizer exports amounted to 10.5 million riyals, a decrease of 82.2%.
The report noted that these 10 commodities were included in the list of the most important private sector exports, accounting for 88% of total private sector exports, according to certificates of origin issued by Qatar Chamber in the first quarter of 2024. The total export value of these ten commodities was approximately 2.24 billion riyals, an increase of 7.6% compared to the data in the fourth quarter of 2023.
According to the certificates of origin issued by the Chamber in the first quarter of 2024, the Asian group of countries (excluding the GCC and Arab countries) topped the list of the most important destinations for Qatar’s private sector exports, with exports to the group of countries amounting to about 1.06 billion riyals, accounting for 41.9% of total exports, the EU countries ranked second, accounting for 29.5% of total exports, about 748.6 million riyals, and the third place was the GCC countries, with exports of about 571.5 million riyals, accounting for 22.5 million riyals of total exports.
The report states that the number of countries receiving Qatari private sector exports in the first quarter of 2024 is about 101, of which the African country group has the largest number with (24) countries, followed by the Asian country group with (22) countries, then the European Union country group with (20) countries, then the Arab country group excluding the Gulf countries with (14) countries, then the other American countries group with (9) countries, then a group of Gulf Cooperation Council countries with (5) countries, then other European countries with (5) countries, followed by the United States of America and one country in the Oceania region (Australia).
According to the ranking of private sector export destination countries in the first quarter of 2024, the Netherlands ranked first in the list of the most important trading partners, with exports of 408.6 million riyals, accounting for 16.1% of total exports. India ranked second with exports of about 350 million riyals, accounting for 13.8% of total exports; followed by the Sultanate of Oman, with market exports of about 246 million riyals. The Republic of Turkey ranked fourth with exports of about 219 million riyals, accounting for 8.7% of total exports; China ranked fifth with exports of about 202 million riyals. 8%, then Germany ranked sixth with a growth rate of 6.8%, with exports of about 172 million riyals, and the seventh was the United Arab Emirates, with exports of about 113 million riyals, equivalent to 4.5% of total exports. Spain ranked first with exports of about 103 million riyals, accounting for 4.1% of total exports; followed by the Kingdom of Saudi Arabia, with exports of about 90.1 million riyals, accounting for 3.6% of total exports. In tenth place is Kuwait, with exports of approximately 76.6 million riyals, equivalent to 3% of total private sector exports in the first quarter of 2024.
Together, these ten countries account for 78.2% of total private sector exports worth approximately QR1.98 billion, and a total value of approximately QR2.53 billion, based on certificates of origin issued in the first quarter of 2024.
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