Qatar's private sector exports registered a 41% jump to QR12.2bn in 2024, according to a Qatar Chamber report released on Tuesday.
In Q4 last year, the report stated that private sector exports stood at QR4.48bn, reflecting a 68.5% year-on-year (y-o-y) increase from QR2.66bn. Quarterly, exports grew by 75.3% compared to QR2.55bn in Q3 2024.
Based on the type of certificates of origin issued by the chamber in Q4 2024, the General Model certificate stood as the highest export value at 76.7% followed by the GCC Model (18.7%), Unified Arab Model (3.9%), and the Singapore Model (0.7%).
Comparing y-o-y export values of the top 10 commodity groups in Q4 2024, all commodities in the list recorded growth except for two: ‘fuel products’ and ‘essential and industrial oils’, which dropped in exports.
Year-on-year, chemical fertilisers rose by 379.6%, aluminium and its products (6.1%), chemicals (233.7%), lotrene (233.7%), steel and its products (72.9%), industrial gases (2.9%), petrochemicals (11.9%), and paraffin (156.8%). Fuel products and essential and industrial oils, on the other hand, slipped by 21.6% and 43.9%, respectively.
Quarterly, six commodity groups increased in export values: chemical fertilisers by (685%), aluminium and its products (4.7%), chemicals (223.3%), lotrene “by a significant margin,” steel and its products (17.4%), and petrochemicals (7.8%). On the other hand, a slump in export values was recorded among the following commodities: fuel products (41%), essential oils and industrial oils (16.1%), industrial gases (0.9%), and paraffin (54.5%).
In Q4 2024, Qatar’s private sector exports were distributed to 10 commodity groups by region and economic blocs. Chemical fertilisers were exported to four regions, with Asian countries accounting for the largest share at 91%. Aluminium and aluminium products were exported to all nine regions, with Asia receiving the largest share at 80%.
Chemicals were also exported to all nine regions, with GCC countries accounting for 85% of total exports. Fuels and fuel products were exported to four of the nine regions, with the EU and GCC countries receiving 47% and 35%, respectively.
Lotrene was exported to five regions, with Asia accounting for the largest share at 81%, while base and industrial oils were exported to five regions, with EU countries receiving 52% of the total. Steel and steel products were exported to eight regions, with GCC countries accounting for 89% of total exports.
Industrial gases were exported to eight regions, with Asian countries receiving 75%. Petrochemicals were exported to eight regions, with Asia and the GCC receiving the largest shares at 42% and 38%, respectively. Lastly, paraffin was exported to six regions, with EU countries accounting for 52% of the total.
Regarding economic blocs and groupings, Asian countries (excluding GCC and Arab countries) ranked first among recipients of private sector exports in Q4 2024, with a value of QR2.61bn, accounting for 58.4% of the total exports. They were followed by GCC countries, which received QR1.07bn, representing 24% of the total.
In third place was the EU, with exports totalling QR391.07mn, or 8.7% of the total value. Next were Arab countries (excluding GCC states), which received QR344.60mn, a share of 7.69%, and African countries, with exports of QR24.64mn, or 0.55%.
The US ranked sixth, receiving QR11.97mn, equivalent to 0.27% of the total exports. This was followed by Other European Countries, with exports amounting to QR5.62mn (0.13%), Oceania countries (QR4.85mn, 0.11%), and Other American countries (QR4.27mn, 0.10% of the total value).
According to the report, India was at the top of the countries of destination of private sector exports in Q4 2024 with close to QR1.5bn, a share of 34.3% of the total exports. It is followed by the UAE with QR638mn and a share of 14.2% and Bangladesh with QR528mn, a share of 11.8%.
Morocco came in fourth place, (QR209mn, 4.7% share); the Netherlands (QR187mn, 4.2); China (QR182mn, 4.1%); Saudi Arabia (QR160mn, 3.6%); Oman (QR130mn, 2.9%); Turkiye (QR120mn, 2.7%); and Kuwait (QR112mn, 2.5%).
