Tribune News Network
Exports by Qatar’s private sector in September as per certificates of origin stood at QR4.98 billion, a month-on-month (m-o-m) increase of 164 percent compared to QR1.89 billion in August, Qatar Chamber (QC) has said in its monthly economic newsletter for November.
According to the report prepared by QC’s Research and Studies Department, on a year-on-year (y-o-y) basis, exports by Qatar’s private sector in September this year recorded a sharp increase of 350 percent compared to QR1.09 billion in September 2020.
The report said that the total value of private-sector exports within the first nine months of the current year amounted to QR20.9 billion compared to QR11.1 billion in the same period last year, showing an increase of 88 percent.
The increase of private-sector exports in September increased by 155 percent compared to QR1.954 billion in February 2020, which represented the highest value of exports when imposing precautionary measures at the beginning of the pandemic, and an increase of 771 percent compared to QR572 million in April 2020, which witnessed the lowest value of exports.
This growth of private sector exports in September 2021 on an m-o-m base is attributed to the increase in exports through the Unified GCC Model which increased by 774 percent from QR383 million in August to QR3.3 billion in September, while on a y-o-y basis it amounted to QR208 million in the same month last year, an increase of increased by 1500 percent.
Exports through the GPS Model increased by 669 percent on an m-o-m basis, while they decreased by 5 percent on a y-on-y basis. Exports through the General Model decreased by 14 percent on an m-on-m basis, while they increased by 143 percent on a y-on-y basis.
Exports through the Unified Arab Model grew by 35 percent on m-o-m basis and 48 percent on a y-on-y basis. Exports through the Unified Model to Singapore amounted to QR70 million, while there are no exports through this model registered in September 2020 or during the last month.
The report added that in September 2021, the private sectors exports of Essential and Industrial Oils exports increased sharply by 565 percent on m-o-m basis and by 1084 percent on y-o-y basis.
Aluminium exports decreased 52.9 percent on an m-o-m basis and 25.4 percent on a y-o-y basis.
Chemical substances exports decreased 44 percent on m-o-m basis, while they grew by 97.7 percent on y-o-y basis. Lotrene exports increased by 26 percent on m-o-m basis and 113.8 percent on y-o-y basis.
Chemical fertilisers exports amounted to QR106.46 million in September, while there are no exports registered in August 2021 or September 2020. Paraffin exports grew by 124.4 percent on an m-o-m basis and 4.8 percent on a y-o-y basis.
Industrial gases exports sharply decreased by 83.9 percent on an m-o-m basis and by 73.6 percent on a y-o-y basis.
Petrochemicals decreased by 24.3 percent on m-o-m, while they increased by 35.4 percent on y-o-y basis. Steel exports increased by 511 percent on m-o-m basis and by 81.2 percent on y-o-y basis.
As for economic blocs and groupings, GCC states were at the top of economic blocs that received exports of private sector amounted to QR3.4 billion with a share of 67.4 percent of the total value, followed by Asian countries excluding GCC states with a share of 25.4 percent and exports of QR1.26 billion.
In third place came the group of EU states, with exports totalling QR221.2 million representing 4.45 percent of the total value, followed by Arab countries excluding GCC states that received exports worth QR109.1 million, a share of 2.19 percent and African Countries Group excluding Arab countries with exports amounted to QR24 million, or a share of 0.48 percent of the total exports.
Other American Countries came in sixth place with exports amounting to 3.12 million, or a share of 0.06 percent, followed by Other European Countries Group which received exports worth QR 2.67 million, a share of 0.05 percent, USA which received exports worth QR0.88 million, or a share of 0.02 percent, and Oceania which received exports worth QR0.37 million, or a share of 0. 01 percent.
In September 2021, Oman was at the top of the countries of destination of private-sector exports with close to QR3.28 billion, a share of 66 percent of the total exports.
It is followed by Turkey with almost QR386.81 million and a share of 7.8 percent and India with about QR383.42 million, a share of 7.7 percent.
Singapore came in fourth place with almost QR198.47 million, a share of 4 percent and Germany with exports amounted to about QR 188.14 million, a share of 3.8 percent.
The value of private-sector exports to these countries represented 89.2 percent of the total value of exports during the same month.