(MENAFN- The Peninsula) The Peninsula
Doha: The private sector exports value during the third quarter of 2022 (July-September) amounted to QR9.38bn, representing a 58 percent growth on an annualised basis compared to QR5.96bn in the same period last year and by 5.2 percent on a quarterly basis compared to QR8.92bn in Q2 of the same year, according to the Qatar Chamber's (QC) quarterly report issued recently.
The report showed that the growth of private sector exports from QR7.7bn in Q1, QR8.9bn in Q2 to QR9.38 in Q3 clearly confirms the ongoing improvement of the private sector's performance and its ability to return to its levels before the pandemic, noting that the total value of private sector exports in nine months exceeded QR26bn, an increase of 24.4 percent compared to QR20.9bn in the same period last year.
The newsletter also said according to the type of certificate of origin issued by the Chamber, on an annualized basis the value of exports through the General model which amounted to QR5.71bn grew by 61 percent, the Unified GCC model which are estimated at QR 2.31bn grew by 43.1 percent, the GSP model amounted to QR877m recorded an increase of 112 percent, while exports through the Unified Arab model which amounted to QR239m showed a decrease by 1.2 percent.
Exports through the Singapore model which amounted to QR227m grew by 69.5 percent on a y-on-y basis.
QC report showed that this surge is attributed to the increase in exports of 6 out of 10 four commodities during Q3 of 2022.
The value of fuel exports amounted to QR2.8bn, showing a significant increase of 241 percent on a yearly basis compared to its value during the same period of the previous year, which amounted to QR829m.
Similarly, exports of essential and industrial oils amounted to QR2.bn, with a y-on-y 76.2 increase, compared to the same period of the previous year which amounted to QR1.4bn.
While aluminum exports decreased by 6.9 percent on a y-on-y basis, reaching QR1.5bn, compared to QR1.6bn in Q3/2021.
Chemical fertilizers exports increased on a yearly basis sharply 530 percent, reaching a value of QR673.6m, compared to the same period last year which amounted to QR106.8m.
Similarly, steel exports amounted to QR346m showed a y-on-y sharp increase of 2232 percent compared to QR14m in Q3-2021, while lotrene exports which amounted to QR341m decreased by 6.1 percent compared to QR363m in Q3/ 2021.
Chemical substances exports which amounted to QR339m registered an increase of 10.8 percent compared QR306m in Q3/2021.
Paraffin exports amounted to QR334m, an increase of 50 percent compared QR223m in Q3 last year, while the industrial gases exports which amounted to QR168m recorded a decrease of 70 percent on a yearly basis compared to QR561m in Q3-2021. Petrochemicals exports amounted to QR5.1m, recording a 98.5 y-on-y decrease compared to QR 345m in the same period of the previous year.
The report 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 Q3/2022, which amounted to QR9.06bn, registering a 56 percent y-on-y growth compared to Q3/2021 and a 11.9 percent q-on-q growth compared to Q2/2022.
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 Q3/2022 which amounted to QR3.37bn with a share of 36 percent of the total exports, followed by the EU which received exports amounted to QR2.9bn or a share of 31 percent of the total value.
In third place came the group of GCC states, with exports totaling QR 2.38bn representing 25.4 percent of the total value, followed by the USA that received QR315m, a share of 3.37 percent and the group of Arab countries excluding GCC states with exports amounted to QR 257 mn, or a share of 2.7 percent of the total exports.
The grouping of African Countries excluding Arab countries came in the sixth place, which received 1.29 percent of the total exports, with a value of QR121.1m, followed by other American countries which received exports estimated at QR9.9m or a share of 0.11 percent, Other European Countries with a value of QR 0.09 percent of QR8.4m and the grouping of Oceania which received exports estimated at QR2.44m or a share of 0.03 percent of the total exports.
The newsletter said that the number of countries receiving Qatari exports in Q3-2022 was 99 countries in the above economic groupings. The African grouping came to the forefront with 30 countries. Asia came then with 21 countries, followed by the European Union and Arab countries excluding GCC states with 13 countries for each, 10 American countries, then the GCC and other European countries with 5 countries for each, and lastly, the USA and one country (Australia) in the Oceania grouping.
In Q3/2022, Oman was at the top of the countries of destination of private sector exports with close to QR1,506.69m, a share of 16.1 percent of the total exports.
It is followed by Netherlands with almost QR1,331.57m and a share of 14.2 percent and India with about QR1,310.79m, a share of 14 percent.
China came in fourth place with almost QR616.90m, a share of 6.6% and France with exports amounted to about QR596.51m, a share of 6.4 percent.
Germany came in the sixth place which received exports amounting to QR532.50m, a share of 5.7%, followed by Singapore with almost QR437.56m, a share of 4.7 percent, Turkey with QR482.38m, a share of 4.6 percent, UAE with almost QR368.23m or 3.9% and Bangladesh with exports amounting to QR342.60m or a share of 3.7% of total value