Doha, Qatar: The value of private sector exports in the first quarter of 2024 (Q1) amounted to QR2.53bn, making a 6% increase on a quarterly basis compared to QR2.39bn in the fourth quarter of 2023, according to the quarterly report released by Qatar Chamber recently.

The report showed that according to the type of certificates of origin issued by the Chamber this growth was due to the increase in exports through the General Model and the Unified GCC Model, while exports through the Unified Arab showed a decrease compared to Q4/2023.

In Q1/2024, exports through the General Model rose by 12 percent (from QR1.79bn to QR2bn). Similarly, exports through the Unified GCC Model rose by 10 percent (from QR398m to QR438m). On the other hand, exports through the Unified Arab Model decreased by 54 percent (from QR202m to QR92.9m).

Based on the type of certificates of origin issued by the chamber in Q1/2024, the value of fuel exports amounted to QR528m, showing an increase by 8.6 percent compared to QR486m in Q4/2023.

Aluminium exports reached QR438m, a decline of 10.5 percent compared to its value in Q4/2023, which amounted to QR489m.

Essential and Industrial Oils exports amounted to QR392m, a decrease of 13.4 percent, compared to QR453m in Q4/2023.

Steel exports amounted to QR275m, registering an increase of 89.4 percent compared to QR145m in Q4/2023.

The report noted that Industrial Gases exports amounted to QR250m, recoding an increase of 25.2 percent. Lotrene exports amounted to QR131m, significantly surged by 7811 percent compared to QR1.66m in Q4/2023.

Chemical Substances exports amounted to QR93m in Q1/2024, recording a decrease on a quarterly basis by 26.7 percent compared to its value in Q4/2023, which amounted to QR127m.

Petrochemicals exports amounted to QR91m, showing a decrease of 15.7 percent compared to its value in Q4/2023, which amounted to QR107m.

Paraffin exports amounted to QR28.1m; an increase of 184.9 percent compared to QR9.87m in Q4/2023.

Chemical Fertilizers exports amounted to QR10.5m; a decrease of 82.2 percent compared to QR58.1m in Q4/2023.

The Chamber’s newsletter explained that these ten commodities exported by the private sector represent 88 percent of total value of private export exports, according to certificates of origin issued by Qatar Chamber during Q1/ 2024, which amounted to QR2,24bn, registering a 7.6 quarter-on-quarter growth compared to Q4/2023.

In third place came the group of GCC states, with exports totalling QR571.5m representing 22.5 percent of the total value, followed by Arab countries excluding Arab countries excluding GCC states that received QR112.8m, a share of 4.4 percent and the African countries with exports amounted to QR14.1m, or a share of 0.56 percent of the total exports.

The USA came in the sixth place, which received 0.39 percent of the total exports, with a value of QR9.9m, followed by other American countries which received exports estimated at QR6.28m or a share of 0.25 percent, and Other European Countries with a value of 0.18 percent of QR4.68m.

The number of countries receiving Qatari exports in Q1/2024 was 101 countries in the above economic groupings.

The African grouping came to the forefront with 24 countries.

Asia came then with 22 countries, followed by the European Union with 20 countries, Arab countries excluding GCC states with 14 countries, other American countries with 9 countries, the GCC with 5 countries, other European countries with 5 countries, the United States of America and one country (Australia) in the Oceania grouping.

In Q1/2024, Netherlands was at the top of the countries of destination of private sector exports with close to QR408.6m, a share of 16.1 percent of the total exports.

Turkey came in fourth place with almost QR219m, a share of 8.7 percent and China with exports amounted to about QR202m, a share of 8 percent.

Together, these ten countries accounted for 78.2 percent and a value of QR1.98bn of private sector exports according to the certificate of origin in Q1/2024, totaling around QR2.53bn.

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