Doha, UAE – The value of Qatar’s private sector exports rose to QR 33 billion ($10 billion) in 2022, compared to QR 26 billion ($10 billion) in 2021, a 25 percent growth on an annualized basis and a 118 percent growth compared to QR 15 billion ($4 billion) in 2020, according to the Qatar Chamber’s quarterly report issued recently.
The value of private sector exports during the fourth quarter (Q4) of 2022 was QR 7.01 billion, showing a decrease of 9 percent on an annualized basis compared to the same period of the previous year which amounted to QR 7.69 billion, the report revealed.
The decrease is attributed to the private sector’s focus on providing amenities for more than a million visitors during the FIFA World Cup Qatar 2022.
The report ndicated that the decline was due to the decrease in the value of all models of certificate of origin, except for the GSP and the Unified GCC models, which showed an increase on an annualized basis.
As for the GSP model, the exports through this model are estimated at QR 795 million, showing an increase of 159.5 percent on an annual basis compared with QR 306 million.
Exports through the Unified GCC model were estimated at QR 1.4 billion, recording an increase of 5.4 percent compared to QR 1.32 billion on an annual basis in Q4 2021.
On the other hand, exports through the Unified Arab model amounted to QR 145 million, showing a decrease of 46.7 percent on a yearly basis in Q4/2021 which amounted to QR 273 million.
Similarly, exports through the General model amounted to QR4.59 billion, a decrease of 19.4 percent y-on-y during Q4/2021 which amounted to QR5.69 billion. Exports through the Singapore model amounted to QR 86.4 million, a decline by 8.9 percent on a y-on-y basis compared to QR 94.9 million in Q4/2021.
Exports through Agricultural and Livestock model amounted to QR 0.144 million.
QC report showed that only two commodities out of 10 commodities increased during Q4.
Fuel exports amounted to QR 2.15 billion, showing a significant increase of 125 percent on a yearly basis compared to its value during the same period of the previous year, which amounted to QR 957 million.
Similarly, steel exports amounted to QR 286.7 million, showing a y-on-y increase of 15.4 percent compared to QR 248.4 million in Q4-2021.
Essential and Industrial Oils exports amounted to QR 1.5 billion, with a y-on-y 9.3 decrease, compared to the same period of the previous year which amounted to QR 1.64 billion.
Aluminum exports also decreased by 14.7 percent on a y-on-y basis, reaching QR 1.57 billion, compared to QR 1.84 billion in Q4-2021.
Chemical Fertilizers exports amounted to QR 666 million, recording a decrease of 30.8 percent compared to its value in the same period of the previous year, which amounted to QR 962 million.
The report indicated that Lotrene exports amounted to QR 131.6 million, a decrease of 59.5 percent y-on-y compared to its value during the same period of the previous year, which amounted to QR 325 million.
Chemical Substances exports decreased on a yearly basis by 51.4 percent, reaching a value of QR 145.3 million, compared to the same period last year which amounted to QR 339.2 million.
Paraffin exports amounted to QR 99.5 million, a decrease of 68 percent on a yearly basis, compared to its value during the same period of the previous year, which amounted to about QR 311 million. Industrial Gases exports amounted to QR 189.3 million, a decrease of 73 percent on a yearly basis, compared to its value during the same period of the previous year, which amounted to about QR 708 million.
On the other hand, petrochemicals exports amounted to QR 59.4 million, recording a 73.7 y-on-y decrease compared to QR 225 million in the same period of the previous year.
The newsletter said that these ten commodities exported by the private sector represent 96.6 percent of the total value of private export exports, according to the certificates of origin issued by the Qatar Chamber during Q4/2022, which amounted to QR 6.8 billion, registering a 9.7 percent y-on-y decline compared to Q4/2021.
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 Q4/2022 which amounted to QR 3.01 billion with a share of 42.9 percent of the total exports, followed by the EU which received exports amounted to QR 1.95 billion or a share of 27.9 percent of the total value.
In third place came the group of GCC states, with exports totaling QR 1.48 billion representing 21.1 percent of the total value, followed by the USA that received QR 302.6 million, a share of 4.3 percent and the group of Arab countries excluding GCC states with exports amounted to QR 161.8 million, or a share of 2.3 percent of the total exports.
The grouping of Other American Countries came in the sixth place, which received 0.69 percent of the total exports, with a value of QR 48.49 million,followed by African Countries excluding Arab countries which received exports estimated at QR 43.7 million or a share of 0.62 percent, Other European Countries with a value of QR 0.09% of QR 6.47 million and the grouping of Oceania which received exports estimated at QR 3.69 million or a share of 0.05 percent of the total exports.
The number of countries receiving Qatari exports in Q4-2022 was 95 in the above economic groupings. The African grouping topped them with 28 countries, followed by Asia with 18 countries, the European Union with 15 and Arab countries excluding GCC states with 14 countries for each, Then, the grouping of American countries with 7 countries, followed by other European countries with 6 countries, the GCC with 5 countries, and lastly the USA and one country (Australia) in the Oceania grouping.
In Q4/2022, Netherlands was at the top of the countries of destination of private sector exports with close to QR 1.39 billion, a share of 19.8 percent of the total exports.
It is followed by Oman with almost QR 1.05 billion and a share of 15 percent and India with about QR 976 million, a share of 13.9 percent.
Turkey came in fourth place with almost QR 572.5 million, a share of 8.2 percent and China with exports amounted to about QR 478 million, a share of 6.8 percent.
Germany came in the sixth place which received exports amounting to QR438.4million, a share of 6.3 percent, followed by Bangladesh with almost QR 433.1 million, a share of 6.2 percent, USA with QR 302.6 million, a share of 4.3 percent, UAE with almost QR 207.5 million or 3 percent and Singapore with exports amounting to QR 201.1 million or a share of 2.9 percent of the total value.
Together, these ten countries accounted for 86.3 percent and a value of QR 6.05 billion of private sector exports according to the certificate of origin during Q4 of 2022, totaling around QR 7.01 billion.