Qatar's Private Sector Exports Exceed QR18.5 Billion in 9 Months

Doha, December 10 (QNA) - The total value of private sector exports exceeded QR 18.5 billion in the first nine months of 2023, compared to 26 billion during the same period in 2022, a decline of 28%. The total value of private sector exports, as per the certificate of origin issued by Qatar Chamber, during the third quarter from July to September (Q3) of 2023 amounted to QR 3.25 billion. This reflects a 65% decrease on an annualized basis compared to the same period of the previous year, which amounted to QR 9.3 billion. On a quarterly basis, there was also a 47% decline compared to QR 6.1 billion in Q2 of 2023. According to the quarterly report issued today by Qatar Chamber, private sector exports value during the third quarter of 2023 (July-September), the largest value of exports was through the General Model by 65%, followed by the GCC Model by 19%, the Unified Arab Model by 12%, and the Unified Singapore by 5%. No exports were registered through the Agricultural and Livestock Model, while exports through the GSP Model was suspended. The report highlighted a decline in export values for most of the 10 commodity groups (List of top 10 commodity groups) in Q3/2023 compared to the previous quarter. Notably, aluminium exports increased by 5%, steel exports by 158%, and chemical fertilizers by 0.6%. Conversely, other commodity groups recorded negative values compared to both the corresponding and preceding quarters. Exports of fuel commodity declined by 54%, base oils and industrial oils by 69%, chemicals by 14%, paraffin by 40%, and lotrene by 15%. These 10 commodity groups collectively represented about 90% of the total value of the private sector's exports during the third quarter of 2023. The report also indicated that according to the types of certificates of origin issued by the Chamber, the Asian countries bloc (excluding GCC and Arab countries) ranked at the top of the economic blocs with a share of 34.6% of the total exports. Following closely is the group of EU states with a share of 27.3%, the group of GCC states with a share of 22.6%. In fourth place is the group of Arab countries, excluding GCC states, with a share of 12.7%, followed by the USA with exports with a share of 1.7%, and the grouping of African Countries, excluding Arab countries, which came in sixth place, receiving 0.7% of the total exports. This is followed by the group of Other American Countries with a share of 0.16%, the grouping of Oceania countries with exports amounting to 0.15% of the total exports, and other European countries which received exports represented a share of 0.07%. In Q3/2023, Netherlands was at the top of the countries of destination of private sector exports with a share of 15.5% of the total exports. It is followed by Oman with a share of 12.9% and Singapore with a share of 8.9%. India came in fourth place with a share of 8.6%, and the UAE with a share of 7.4%. (QNA)