Doha: The value of private sector exports in the second quarter (Q2) of 2024 amounted to QR 2.62 billion, making a 3.5 percent increase on a quarterly basis compared to QR 2.53 billion in the first quarter of 2024, according to the quarterly report released by Qatar Chamber. The report also said that as per 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 percent (from QR 2 billion to QR 2.04 billion). Similarly, exports through the Unified GCC Model increased by 15.3 percent (from QR 438 million to QR 505 million). On the other hand, exports through the Unified Arab Model decreased by 24 percent (from QR 92.9 to QR 70.6 million). The QC newsletter showed that fuel exports in Q2/2024 amounted to QR 435 million, marking a decrease of 17.7 percent compared to QR 528 million in Q1/2024. Similarly, alumi num exports reached QR 302 million, registering a decline of 31 percent compared to their value in Q1/2024, which amounted to QR 438 million. Essential and industrial oils amounted to QR 427.6 billion, with a year-on-year increase of 9 percent, while steel exports totaled QR 218.18 million, showing a decrease of 20.8 percent compared to QR 275.3 million in Q1/2024. The report noted that industrial gases exports amounted to QR 200.3 million in Q2/2024, recording a decline of 20.6 percent. Lotrene exports reached QR 44.42 million in Q2/2024, registering a decrease of 66.1 percent compared to QR 131.2 million in Q1/2024. Chemical substances exports, which amounted to QR 90.1 million in Q2/2024, recorded a decrease of 3.4 percent. Petrochemical exports, which amounted to QR 52.9 million in Q2/2024, showed a decrease of 41.7 percent. As for paraffin exports, this commodity amounted to QR 29.5 million, a decrease of 4.9 percent compared to QR 28.12 million in Q4/2023, while chemical fertilizers exports amounted to QR 339.5 million, recording a sharp increase of 3139 percent compared to QR 10.48 million in Q1/2024. These ten commodities exported by the private sector represent 81.6 percent of the total value of private export exports, according to the certificates of origin issued by the Qatar Chamber during Q2/2024. 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 Q2/2024 which amounted to QR 1.2 billion with a share of 45.6 percent of the total exports, followed by GCC countries which received exports amounted to QR 625.62 million or a share of 23.9 percent of the total value. In third place came the group of European Union, with exports totaling QR 543.43 million representing 20.7 percent of the total value, followed by Arab countries excluding Arab countries excluding GCC states that received QR 145.96 million, a share of 5.6 percent and the Other European countries with exports amounted to QR 76.82 million, or a share of 2.9 percent of the total exports. The group of African countries came in the sixth place, which received 0.8 percent of the total exports, with a value of QR 21.06 million, followed by the US which received exports estimated at QR 6.75 million or a share of 0.3 percent, and Other American countries with a value of QR 0.2 percent of QR 5.43 million. Then came the grouping of Oceania countries, with exports amounting to QR 1.53 million, equivalent to 0.06 percent of the total exports. According to the report, the number of countries receiving Qatari exports in Q2/2024 was 105 countries in the above economic groupings. The African grouping came to the forefront with 27 countries. Asia came then with 23 countries, followed by Other American countries with 14 countries, Arab countries excluding GCC states with 13 countries, the European Union with 12 countries, other European countries with 9 countries, the GCC with 5 countries, the United States of America and one country (Au stralia) in the Oceania grouping. In Q2/2024, India was at the top of the countries of destination of private sector exports with close to QR 475.5 million, a share of 18.1 percent of the total exports. It is followed by Netherlands with almost QR 354.5 million and a share of 13.6 percent and UAE with about QR 251.55 million, a share of 9.6 percent. China came in fourth place with almost QR 241.60 million, a share of 9.2 percent. Oman came in the fifth place which received exports amounting to QR 163.4 million, a share of 6.2 percent, followed by KSA with almost QR 130.9 million, a share of 5 percent, Germany with QR 109.7 million, a share of 4.2 percent, Bangladesh with almost QR 103 million or 3.9 percent, Morocco with exports amounting to QR 84.7 million or a share of 3.2 percent and Turkey with QR 82.2 million or a share of 3.1 percent of the total value. Together, these ten countries accounted for 76 percent and a value of QR 2 billion of private sector exports according to the certificate of origin in Q2/2024, totaling around QR 2.6 billion. Source: Qatar News Agency
Sunday, September 29, 2024