(MENAFN- The Peninsula) QNA
Doha: Qatar Chamber has issued its monthly economic newsletter for November which highlighted the most prominent trends in the Qatari economy, as well as statistics related to foreign trade and trade of private sector in September according to the certificates of origin issued by the Chamber.
The newsletter, prepared by QCs Research & Studies Department, highlighted a report about exports of the private sector in September 2021.
The newsletter said that exports of the private sector in September as per certificates of origin issued by the Chamber stood at to QR 4.98 billion, showing a month-to-month increase of 164 percent compared to QR 1.89 billion in August, while on a year-to-year basis, it recorded a sharp increase of 350 percent compared to QR 1.09 billion as 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 QR 20.9 billion compared to QR 11.1 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 QR 1.954 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 QR 572 million in April 2020, which witnessed the lowest value of exports.
This growth of private sector exports in September 2021 on a month-to-month base is attributed to the increase in exports through the Unified GCC Model which increased by 774 percent from QR 383 mn in August to QR 3.3 bn in September, while on a y-to-y basis it amounted to QR 208 mn in the same month last year, an increase of increased by 1500 percent.
Exports through the GPS Model increased by 669 percent on m-to-m basis, while they decreased by 5 percent on y-to-y basis.
Exports through the General Model decreased by 14 percent on an m-to-m basis, while they increased by 143 percent on a y-to-y basis.
Exports through the Unified Arab Model grew by 35 percent on an m-to-m basis, and an increase of 48 percent on a y-to-y basis.
Exports through the Unified Model to Singapore amounted to QR 70 mn, while there are no exports through this model registered in September 2020 or during the last month.
Exports according to the type of commodities
In September 2021, the private sector's exports of Essential and Industrial Oils exports increased sharply by 565 percent on a month-to-month basis and by 1084 percent on a year-to-year basis.
Aluminum exports decreased by 52.9 on a month-to-month basis, and by 25.4 percent on a year-to-year basis.
Chemical substances exports decreased by 44 percent on a month-to-month basis, while they grew by 97.7 percent on a year-to-year basis.
Lotrene exports increased by 26 percent on a month-to-month basis and by 113.8 percent on a year-to-year basis.
Chemical fertilizers exports amounted to QR 106.46 mn in September, while there are no exports registered in August 2021 or September 2020.
Paraffin exports grew by 124.4 percent on a month-to-month basis and 4.8 percent on a year-to-year basis.
Industrial Gases exports sharply decreased by 83.9 percent on a month-to-month basis and by 73.6 percent on a year-to-year basis.
Also, petrochemicals decreased by 24.3 percent on a month-to-month basis, while they increased by 35.4 percent on a year-to-year basis.
Steel exports increased by 511 percent on a month-to-month basis and by 81.2 percent on a year-to-year basis.
Overall, the total value of private sector exports grew by 183.8 on a month-to-month basis and by 309.6 percent on a year-to-year basis.
Private Sector Partners
As for economic blocs and groupings, GCC states were at the top of economic blocs that received exports of private sector amounted to QR 3,4 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 with exports of QR 1,26 billion.
In third place came the group of EU states, with exports totaling QR 221.2 million representing 4.45 percent of the total value, followed by Arab countries excluding Arab countries excluding GCC states that received 109.1 million, a share of 2.19 percent and African Countries Group excluding Arab countries with exports amounted to QR 24 million, or a share of 0.48 percent of the total exports.
Other American Countries came in the sixth place with exports amounted to 3.12 million, or a share of 0.06 percent, followed by Other European Countries Group which received exports worth of QR 2.67 million, a share of 0.05 percent, USA which received exports worth of QR 0.88 mn, or a share of 0.02 percent and Oceania which received exports worth of QR 0.37 mn, 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 QR 3,28 billion, a share of 66 percent of the total exports.
It is followed by Turkey with almost QR 386.81 million and a share of 7.8 percent and India with about QR 383.42 million, a share of 7.7 percent.
Singapore came in fourth place with almost QR 198.47 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.
Foreign Trade
The QC newsletter said that according to the figures given by The Planning and Statistics Authority for September, the total value of foreign merchandise trade amounted to QR 36.8 bn, showing an increase of 4.1 percent compared to QR 35.4 bn in August, while on a y-on-y basis, it increased by 80.4 percent compared to QR 20.4 bn in September 2020.
In September, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 28.1 bn, showing a sharp increase of 109 percent compared to QR 13.4 bn in September last year and an increase of 2.8 percent compared to QR 27.3 bn in August 2021.
The imports of goods in the said month amounted to around QR 8.8 billion, showing an increase of 8.5 percent compared to QR 8.1 bn in August, and an increase of 25.7 percent on a year-to-year basis.
Therefore, the country's foreign merchandise trade balance, which represents the difference between total exports and imports, amounted to QR 19.3 bn, showing an increase of 199.1 percent compared to QR 6.4 bn in September 2020, while on a month-to-month base it slightly increased by 0.31 percent.
In September, China was at the top of the countries of destination of Qatar's foreign trade with about QR 5.8 billion, a share of 15.8 percent of the state's total foreign trade.
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