The value of Qatar’s private sector exports in the second quarter of 2024 stood QR2.62bn, up 3.5% compared to QR2.53bn in the first quarter, a Qatar Chamber quarterly report stated.
According to the type of certificates of origin issued by the chamber in Q2, exports through the General Model and the Unified GCC Model increased, while exports through the Unified Arab showed a decrease compared to Q1-2024.
Exports through the General Model rose by 2.2% from QR2bn to QR2.04bn. Similarly, exports through the Unified GCC Model increased by 15.3% from QR438mn to QR505mn.
On the other hand, exports through the Unified Arab Model decreased by 24% from QR92.9mn to QR70.6mn.
The report stated that fuel exports in Q2 2024 amounted to QR435mn, marking a 17.7% decrease compared to QR528mn in Q1-2024. Similarly, aluminium exports reached QR302mn, registering a 31% decline compared to Q1-2024, which amounted to QR438mn.
Essential and industrial oils amounted to QR427.6bn, with a year-on-year increase of 9%, while steel exports totalled QR218.18mn, 20.8% lower compared to QR275.3mn in Q1-2024.
The report noted that industrial gases exports amounted to QR200.3mn in Q2-2024, recording a 20.6% decline. Lotrene exports reached QR44.42mn in Q2-2024, registering a decrease of 66.1% compared to QR131.2mn in Q1-2024. Chemical substances exports, which amounted to QR90.1mn in Q2-2024, dropped 3.4%. Petrochemical exports, which amounted to QR52.9mn in Q2-2024, were also lower by 41.7%.
Paraffin exports amounted to QR29.5mn, which were 4.9% lower compared to QR28.12mn in Q4-2023, while chemical fertilisers exports amounted to QR339.5mn, recording a sharp increase of 3,139% compared to QR10.48mn in Q1-2024.
The 10 commodities exported by the private sector represent 81.6% of the total value of private export exports, according to the certificates of origin issued by Qatar Chamber during Q2-2024.
As for economic blocs and groupings, Asian countries, excluding GCC and Arab countries, were at the top of economic blocs that received private sector exports during Q2-2024, which amounted to QR1.2bn with a share of 45.6% of the total exports, followed by GCC countries, which received exports worth QR625.62mn or a 23.9% share of the total value.
In third place is the EU group, with exports totalling QR543.43mn, representing 20.7% of the total value. This was followed by Arab countries, excluding Arab countries and GCC states, which received QR145.96mn, or a share of 5.6%, and the Other European countries with exports amounted to QR76.82mn, or a share of 2.9% of the total exports.
The group of African countries came in sixth place, which received 0.8% of the total exports, with a value of QR21.06mn, followed by the US, which received exports estimated at QR6.75mn or a share of 0.3%, and Other American countries with a value of QR0.2% or QR5.43mn. The grouping of Oceania countries registered exports worth QR1.53mn, or 0.06% of the total exports.
According to the report, 105 countries in the previous economic groupings received Qatari exports in Q2-2024. The African grouping topped the list with 27 countries, followed by Asia (23 countries), Other American countries (14), Arab countries excluding GCC states (13), the EU (12), other European countries (9), the GCC (5), and the US and Australia in the Oceania grouping.
In Q2-2024, India topped the countries of destination of private sector exports with QR475.5mn, or an 18.1% share of the total exports, followed by the Netherlands with QR354.5mn (13.6%), the UAE (QR251.55mn, 9.6%), China (QR241.60mn, 9.2%), Oman (QR163.4mn, 6.2%), Saudi Arabia (QR130.9mn, 5%), Germany (QR109.7mn, 4.2%), Bangladesh (QR103mn, 3.9%), Morocco (QR84.7mn, 3.2%), and Turkey (QR82.2mn, 3.1%).
Together, these 10 countries accounted for 76% and a value of QR2bn of private sector exports according to the certificate of origin in Q2 -2024, totalling around QR2.6bn, the report further stated.
