(MENAFN- The Peninsula)
The Peninsula
Doha, Qatar: The total value of the private sector exports in the third quarter of this year amounted to QR2.56bn, reflecting a slight decrease of 2.5 percent on a quarterly basis compared to QR2.62bn in the second quarter of 2024, according to the quarterly report released by Qatar Chamber.
The report also said that as per the type of certificates of origin issued by the chamber in Q3, exports through the General Model rose by 1.3 percent from QR2.05bn to QR2.07bn, and the Arab Model by 17.1 percent from QR70.6m to QR82.7m. On the other hand, exports through the Unified GCC Model showed a decrease of 20.4 percent from QR505.4m to 402.4m.
The QC newsletter showed that fuel exports in the third quarter of 2024 amounted to QR646m, marking an increase of 48.8 percent compared to QR435m in the second quarter of 2024. Similarly, aluminium exports reached QR496.4m, registering a growth of 64.2 percent compared to their value in the second quarter of 2024, which amounted to QR302.2m.
Essential and industrial oils amounted to QR303m, showing a decrease of 29.1 percent compared to QR427m in the second quarter of 2024. Steel exports amounted to QR214.1m, also decreased by 1.9 percent compared to QR218.18m in Q2/2024.
The report noted that industrial gases exports amounted to QR207.5 million in the third quarter of 2024, recording a growth of 3.6 percent. Lotrene exports reached QR2.28million, registering a decrease of 94.9 percent compared to QR44.4m in the second quarter of 2024. Chemical substances exports, which amounted to QR131.4m, recorded an increase of 111 percent.
As for paraffin exports, this commodity amounted to QR55.6m, recording an increase of 88.7 percent compared to QR29.5m in the second quarter of 2024. Chemical Fertilizers exports amounted to QR201.2m, a decrease by 40.7 percent compared to QR339m in Q2/2024.
These ten commodities exported by the private sector represent 92.6 percent of the total value of private export exports, according to the certificates of origin issued by the Qatar Chamber during the third quarter of 2024.
Regarding economic blocs and groupings, Asian countries (excluding GCC and Arab countries) ranked first among recipients of private sector exports during Q3 2024, with a value of QR1.02bn, accounting for 40.06 percent of the total exports. They were followed by GCC countries, which received QR657.55m, representing 25.71 percent of the total.
In third place was the European Union, with exports totalling QR631.66m, or 24.70 percent of the total value. Next were Arab countries (excluding GCC states), which received QR160.35m, a share of 6.27 percent, and Other European countries, with exports of QR47.82m, or 1.87 percent.
The African group ranked sixth, receiving QR23.17m, equivalent to 0.91 percent of the total exports. This was followed by Oceania, with exports amounting to QR5.18m (0.2 percent), Other American countries, with QR4.89m (0.19 percent), and the United States, which received QR2.41m, or 0.09 percent of the total value.
In Q3 2024, Qatari exports reached 101 countries across the mentioned economic groupings. The African group included 27 countries, followed by Asia with 23 countries, Other American countries with 17, Arab countries (excluding GCC states) with 14, Other European countries with 7, the GCC with 5, Oceania with 2, and the US.
According to the report, India was at the top of the countries of destination of private sector exports with close to QR442.1m, a share of 17.3 percent of the total exports.
It is followed by Netherlands with almost QR375.3m and a share of 14.7 percent and UAE with about QR280.3m, a share of 11 percent. China came in fourth place with almost QR189.6m, a share of 7.4 percent.
KSA came in the fifth place which received exports amounting to QR156.5m, a share of 6.1 percent, followed by Oman with almost QR148.16m, a share of 5.8 percent, Bangladesh with QR108.3m, a share of 4.2 percent, Germany with almost QR104.6m or 4.1 percent, Morocco with exports amounting to QR100.1m or a share of 3.9 percent and Turkey with QR91.2m or a share of 3.6 percent of the total value.
Together, these ten countries accounted for 78% and a value of QR2bn of private sector exports according to the certificate of origin in Q3/2024, totalling around QR2.56bn, the report further stated.
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