Doha: The private sector exports value amounted to QR9.1bn in the first quarter of 2023, representing a 17.5 percent growth on an annualised basis compared to QR7.73bn in Q1 2022, according to the Qatar Chamber’s quarterly report issued recently.
The report showed that exports through the General Model amounted to QR7.35bn, an increase of 32.3 percent y-on-y compared to QR5.55bn in Q1 of 2022.
Similarly, exports through the Unified GCC Model reached QR1.46bn, growing by 26.8 percent compared to QR1.15bn in Q1/2022.
The newsletter noted that exports through the Unified Arab Model estimated at QR139.30m showing a decrease of 52.5 percent on a y-on-y basis compared to QR239.34m in Q1/2022.
Similarly, the value of exports through the GSP Model are estimated at QR15.18m, registering a significant decline of 97.5 percent on a yearly basis compared to QR616.43m in Q1/2022.
Exports through the Singapore Model which stood at QR106.1m showed a decrease of 0.5 percent compared to QR106.7m in Q1/2022.
Based on the type of certificate of origin issued by the chamber, the newsletter said that the Essential and Industrial Oils exports in Q1/2023 amounted to QR5.66m with a y-on-y 222 percent increase, compared to the same period of the previous year which amounted to QR1.75m.
Petrochemical exports amounted to QR232m, showing an increase of 26 percent compared to its value Q1/2022, which amounted to QR184m.
Industrial Gases exports amounted to QR200.8m, reordering a growth of 55.4 percent on a yearly basis, compared to its value during Q1/2022, which amounted to about QR129.2m.
Fuel exports amounted to QR1.37m, showing an increase of 16.2 percent on a yearly basis compared to its value in Q1/2022, which amounted to QR1.18m.
Chemical Substances exports reached to QR150m in Q1/2023, recording a 48.7 y-on-y decrease compared to QR292m in the same period of the previous year.
Aluminium exports decreased by 62 percent on a y-on-y basis, reaching QR728m, compared to QR1.9bn in Q1/2022. Steel exports amounted to QR282.6m, showing a y-on-y decrease by 17.6 percent compared to QR343m in Q1/2022.
Paraffin exports amounted to QR94.6m, a decrease of 46.1 percent on a yearly basis, compared to its value during the same period of the previous year, which amounted to about QR175.4m.
Lotrene exports amounted to QR63.1m, a decrease of 82.8 percent y-on-y compared to its value during the same period of the previous year, which amounted to QR367m.
Chemical Fertilizers exports amounted to QR26.2m, a decrease on a yearly basis by 97.5 percent compared to QR1.04m in Q1/2022.
The report showed that these ten commodities represent 97.1 percent of the total value of private export exports, according to the certificates of origin issued by the Qatar Chamber during Q1/ 2023, which amounted to QR8.82bn, registering a 19.3 percent y-on-y growth compared to the same period of 2022.
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 Q1/2023 which amounted to QR6.2bn with a share of 68.15 percent of the total exports, followed by GCC states which received exports amounted to QR1.52bn or a share of 16.8 percent of the total value.
In third place came the group of EU states, with exports totalling QR1.09bn representing 12.05 percent of the total value, followed by Arab countries excluding Arab countries excluding GCC states that received QR159.8m, a share of 1.76 percent and the USA with exports amounted to QR61.91m or a share of 0.68 percent of the total exports.
The grouping of African Countries excluding Arab countries came in the sixth place, which received 0.29 percent of the total exports, with a value of QR26.63m followed by other European countries which received exports estimated at QR14.71m or a share of 0.16 percent, and Other American Countries with a value of QR 0.04 percent of QR3.9m.
Then came the grouping of Oceania countries, with exports amounting to QR2.3m, equivalent to 0.03 percent of the total exports.
According to the Chamber’s report, the number of countries receiving Qatari exports in Q1/2023 was 96 countries in the above economic groupings. The African grouping came to the forefront with 29 countries. Asia came then with 19 countries, followed by the European Union with 14 countries, Arab countries excluding GCC states with 13 countries, other American countries with 8 countries, other European countries with 6 countries, the GCC with 5 countries, and the United States of America and one country (Australia) in the Oceania grouping.
In Q1/2023, China was at the top of the countries of destination of private sector exports with close to QR3.1bn, a share of 34.1 percent of the total exports.
It is followed by India with almost QR2.4bn and a share of 26 percent and Oman with about QR989m, a share of 10.9 percent.
Netherlands came in fourth place with almost QR728.5m, a share of 8 percent and UAE with exports amounted to about QR336.7m, a share of 3.7 percent.
Germany came in the sixth place which received exports amounting to QR261.7m, a share of 2.9 percent, followed by Turkey with almost QR152.2m, a share of 1.7 percent, Singapore with QR146.2m, a share of 1.6 percent, Indonesia with almost QR131.1m or 1.4 percent and Honk Kong with exports amounting to QR121.7m or a share of 1.3 percent of the total value.
Together, these ten countries accounted for 92.5 percent and a value of QR8.4bn of private sector exports according to the certificate of origin in Q1/2023, totalling around QR9.1bn.
