Qatar Chamber (QC) revealed that the total exports of the private sector reached QAR 12.2 billion, marking a decrease of 41 percent, according to the certificates of origin it has issued in 2024.
In its quarterly report issued today, Qatar Chamber said that the highest export value was recorded through the General Model certificate at 76.7 percent, followed by the GCC Model at 18.7 percent, the Unified Arab Model at 3.9 percent, and the Singapore Model at 0.7 percent.
The total value of the private sector exports in the fourth quarter of 2024 (October, November, December) amounted to QAR 4.48 billion, reflecting a y-o-y increase of 68.5 percent compared to QAR 2.66 billion in Q4/2023, according to a report released by QC.
On a quarterly basis, exports grew by 75.3 percent compared to QAR 2.55 billion in Q3/2024, the report noted, adding that total exports for 2024 reached QAR 12.2 billion, marking a 41 percent decrease compared to the previous year.
The report pointed out that on comparing the export values of the top 10 commodity groups in Q4/2024 with those in Q4/2023, all commodities in the list recorded an increase in export value except for two commodities - Fuel Products, and Essential and Industrial Oils - which recorded decline in exports.
On a yearly basis, chemical fertilizers rose by 379.6 percent, aluminium and its products by 6.1 percent, chemicals by 233.7 percent, lotrene by 233.7 percent, steel and its products by 72.9 percent, industrial gases by 2.9 percent, petrochemicals by 11.9 percent, and paraffin by 156.8 percent. However, the export value of fuel products declined by 21.6 percent, while essential oils dropped by 43.9 percent.
On a quarterly basis, six commodity groups saw an increase in export values: chemical fertilizers surged by 685 percent, aluminium and its products by 4.7 percent, chemicals by 223.3 percent, lotrene by a significant margin, steel and its products by 17.4 percent, and petrochemicals by 7.8 percent. On the other hand, export values declined for four commodities: fuel products by 41 percent, essential oils and industrial oils by 16.1 percent, industrial gases by 0.9 percent, and paraffin by 54.5 percent.
The report highlighted the distribution of exports across ten commodity groups by region and receiving economic blocs during Q4/2024. Chemical fertilizers were exported to four regions, with Asian countries accounting for the largest share at 91 percnet.
Aluminium and aluminium products were exported to all nine regions, with Asia receiving the largest share at 80 percent, and chemicals were also exported to all nine regions, with GCC countries accounting for 85 percent of total exports.
Fuels and fuel products were exported to four of the nine regions, with the EU and GCC countries receiving 47 percent and 35 percent, respectively. Lotrene was exported to five regions, with Asia accounting for the largest share at 81 percent.
In regard to economic blocs and groupings, Asian countries (excluding GCC and Arab countries) ranked first among recipients of private sector exports during Q4/2024, with a value of QAR 2,618.32 million, accounting for 58.4 percent of the total exports. They were followed by GCC countries, which received QAR 1,077.76 million, representing 24 percent of the total.
According to the report, India was at the top of the countries of destination of private sector exports in Q4/2024 with close to QAR 1,5 billion, a share of 34.3 percent of the total exports, followed by UAE with almost QAR 638 million and a share of 14.2 percent and Bangladesh with about QAR 528 million, a share of 11.8 percent. Morocco came in fourth place with almost QAR 209 million, a share of 4.7 percent.
The Netherlands came in the fifth place which received exports amounting to QAR 187 million, a share of 4.2 percent, followed by China with almost QAR 182 million, a share of 4.1 percent, KSA with QAR 160 million, a share of 3.6 percent, Oman with almost QAR 130 million or 2.9 percent, Turkey with exports amounting to QAR 120 million or a share of 2.7 percent and Kuwait with QAR 112 million or a share of 2.5 percent of the total value
