Qatar private sector exports reach QAR 2.5b in Quarter 1
23/06/24
Qatars private sector exports in the first quarter of 2024 amounted to QAR 2.53 billion (USD 700 million), a 6% increase compared to QAR 2.39 billion (USD 660 million) in Q4 2023, figures released by Qatar Chamber revealed.
The report classified the data according to the type of certificates of origin issued by Qatar Chamber which showed an increase when using the General Model and the Unified GCC Model.
As a result, for the first three months of 2024, exports through the General Model rose by 12% from QAR 1.79 billion (USD 490 million) to QAR 2 billion (USD 550 million). Similarly, exports through the Unified GCC Model rose by 10% (from QAR 398 million (USD 109 million) to QAR 438 million (USD 120 million).
Fuel exports increased by 8.6%, while steel registered an increase of 89%, industrial Gases exports saw growth of 25% while paraffin increased 185% percent all compared against Quarter 4 (Q4) in 2023.
As for economic groupings, Asian countries (excluding GCC and Arab countries) received the highest amount of private sector exports during Q1 in 2024. This amounted to QAR 1.06 billion (USD 290 million) or a share of 42% of total exports, followed by the European Union which obtained exports worth QAR 749 million (USD 206 million) or 30% total value. In third position were the GCC states, with exports totaling QAR 572 million (USD 157 million) representing 23% of total value.
In terms of indivdual countries, the Netherlands received the highest amount of private sector exports with QAR 408 million (USD 112 million), a share of 16% of total exports. In second place was India whose exports amounted to QAR 350 million (USD 96 million) or 14% of total exports, while Oman positioned third with QAR 246 million (USD 68 million) a share of 10%.
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