Private Sector Exports Quarterly Report – Issue No. 29 – First Quarter – Jan-Mar 2022

Private Sector Exports Quarterly Report Issue No. (29) – First Quarter – (Jan-Mar) 2022

Preface:
The Research and Studies Department of the Qatar Chamber of Commerce and Industry is pleased to place in your hands the twenty-ninth issue of the Economic Newsletter (Private Sector Exports Quarterly Report – First Quarter), which the Department will issue regularly every three months (quarterly) starting from this issue after it was published on monthly basis until the previous issue. In this issue of our Newsletter, we analyze the position of the private sector’s exports based on the certificates of origin issued by the Chamber during the same period.

(1) Analysis of Private Sector Exports based on Certificates of Origin (First Quarter – 2022) :

The aggregate value of private-sector exports (according to the certificate of origin issued by the Chamber) during the first quarter of 2022 amounted to (7,730.23) million Qatari riyals, with an annual increase (compared to the same period of the previous year) of 46% as it reached (5,312.11) million Qatari riyals Quarterly. Quarterly, compared to the fourth quarter of the previous year, amounted to (7,689.83), we discover that the percentage is also high, but with a small percentage of 1%.

This level of exports asserts, beyond doubt, that the private- sector and the Qatari economy, in general, have recovered their natural position and dynamism, and the market mechanisms have returned to control the levels of operation of economic activities and their returns.

Graph (1) Level of Exports (First Quarter 2021 to First Quarter 2022):

Value in Qatari Riyals

(1-1) Analysis of Private Sector Exports by Certificate of Origin Type:

Table (1) Analysis by Certificate Type (First Quarter 2022 and Comparison with First and Fourth Quarters 2021):

(Value in a million riyals)

Graph (2) Exports by Type Of Certificate (during the first quarter of 2022 and the first and fourth quarters of 2021):

(Value in million Qatari riyals)

This section of the report compromises an analysis of private sector exports during the first quarter of 2022 on an annual basis (compared to the values of exports during the same period in the previous year, 2021). It also includes a comparison quarterly (comparing to the value of exports during the fourth quarter of the previous year, 2021), based on certificates of origin models issued by the Chamber. The analysis results (see Table 6 above) indicate a discrepancy in the level of performance. The value of exports according to the GSP model increased annually by a large percentage of 113.9%; quarterly, it increased by a large percentage to reach 101.1%. As for the general model, the value of its exports rose annually by a large percentage of 67.3%, but it declined quarterly by a small percentage of 2.3%.

In the same way, the value of exports based on the Arab unified model increased by 49.3% annually, and it also rose quarterly by 7.2%. A decline occurred in the level of the unified GCC model, which decreased at the annual and quarterly levels by 13.7% and 12.9%, respectively. Also, the Singapore model decreased by 35.7% annually but increased quarterly by 12.5%.

Analysis of the Exports of the Private Sector by the Type of Commodities: -

Table (2) Exports by most significant commodities during the first quarter of 2022 compared to the first and fourth quarters of 2021:

Value in Qatari Riyals

Graph (3) Private sector exports by most significant commodities during the first quarter of 2022 and the first and fourth quarters of 2021:

Value in a Million Qatari Riyals

Graph (4) The Relative Weight of the Most Significant Commodities Exported by the Private Sector during the First Quarter of 2022

Share (%) in total

Analyzing the private-sector exports by the exported commodities during the first quarter of 2022 (list of the most significant 10 exports) annually ( by comparing them to exports during the same period of the previous year 2021) and quarterly (by comparing them to exports of the fourth quarter of the previous year 2021), as shown in Table (7); we discover that six commodities in the list achieved an increase in export value annually, while four commodities declined in export values annually. Quarterly, we also explore those six commodities have increased in their export values while four commodities declined in their export values. Below, we review the commodities in the list orderly (according to the highest value in the first quarter of 2022):

Aluminum: the value of exports of this commodity increased during the first quarter of 2022 by 61.3% annually, reaching (1,917.61) million Qatari riyals, compared to (1,188.62) million Qatari riyals exported during the first quarter of the previous year, 2021. It also increased Quarterly, a small percentage of only 4% compared to its value during the fourth quarter of the previous year 2021, which amounted to (1,843.66) million Qatari riyals.
Essential and Industrial Oils: During the first quarter of 2022, this commodity’s exports amounted to (1756.61) million Qatari riyals, with an increase of 53.8% annually, compared to the same period of the previous year, 2021, when it achieved exports amounted to (1,142.08) million riyals. It also increased quarterly by a small percentage of 6.8%, compared to its value during the fourth quarter of the previous year, which amounted to (1645.09) million Qatari riyals.
Fuel: The value of exports of this commodity during the first quarter of 2022 amounted to about (1184.18) million Qatari riyals, with a significant increase of 356.2% annually compared to its value during the same period of the previous year, which amounted to (259.55) million riyals. It also increased quarterly by 60.9%, compared to the value of exports during the fourth quarter of the previous year, which amounted to (735.87) million Qatari riyals.
Chemical Fertilizers: Exports of the chemical fertilizers commodity increased annually by a significant rate of 1,238.9%, reaching a value of (1,041.95) million Qatari riyals, while its value during the same period of the previous year, 2021, was only (77.82) million Qatari riyals. Also, the value of its exports increased quarterly by a simple percentage up to 8.3% compared to the fourth quarter of the previous year, which amounted to (962.46) million riyals.
Lotrene: The value of exports of this commodity during the first quarter of 2022 amounted to (376) million Qatari riyals, an increase of 19.6% annually compared to its value during the same period of the previous year, which amounted to (306.75) million Qatari riyals. It also rose quarterly by a rate of 12.9%, compared to the value of exports during the fourth quarter of the previous year, which amounted to (324.99) million Qatari riyals.
Steel: The value of exports of the steel commodity decreased annually by 32.8%, as its exports amounted to (343.03) million Qatari riyals, while its value during the same period of the previous year amounted to (510.36) million riyals, but quarterly the value of its exports increased by a percentage amounted to 37.9%, compared to its value during the fourth quarter of the previous year, which amounted to (248.74) million Qatari riyals.
Chemical Substances: The value of exports of the chemical substances’ commodity decreased at the annual and quarterly levels. During the first quarter of 2022, the value of its exports decreased by 7%, as the value of exports from this commodity amounted to (292.66) million Qatari riyals, compared to the value of exports from it during the same period of the previous year, which had reached (314.82) million Qatari riyals. It declined by 45.9% compared to its value during the fourth quarter of the previous year, 2021, when it amounted to (541.39) million Qatari riyals.
Petrochemicals: The value of exports of the petrochemicals commodity during the first quarter of 2022 amounted to (183.88) million Qatari riyals, an annual increase of 22% compared to the value of exports from it during the same period of the previous year, which amounted to (150.68) million Qatari riyals. It decreased Quarterly by 9.5% over the value of exports during the fourth quarter of the previous year, which amounted to (203.18) Qatari million riyals.
Paraffin: The value of exports of this commodity during the first quarter of 2022 amounted to (175.48) million riyals only, with an annual decline of 35% compared to the value of its exports of it during the same period of the previous year, 2021, which amounted to about (269.81) million Qatari riyal. It also declined Quarterly, reaching a percentage of 43.6% compared to the value of exports from it during the fourth quarter of the previous year, which amounted to (310.90) million Qatari riyals.
Industrial Gases: The performance of exports of industrial gases was weak, as only (129.23) million Qatari riyals were exported from industrial gases during the first quarter of 2022, with a significant decrease of 87% annually, compared to what was exported from them in the same period of the previous year which amounted to (990.60) million Qatari riyals. There was also a significant quarterly decline of 81.6% compared to the value of exports from them during the fourth quarter of the previous year, which amounted to (701.26) million Qatari riyals.

These ten commodities in the list of the most important commodities exported by the private sector represent 96.5% of the total exports of the private sector, according to the certificates of origin issued by the Qatar Chamber during the first quarter of 2022, where the total exports amounted to (7,391.63) million Qatari riyals, a rise of 41.8% annually compared to the data of the same period of the previous year 2021. Still, quarterly, compared to the data of the previous year’s fourth quarter, we find it decreased by a small percentage of 1.7%.

Destinations of Private-Sector Exports in Terms of the Economic Blocs during the First Quarter of 2022:

Table (3) Destinations of Private-Sector Exports by Groupings and Economic Blocs during the First Quarter of 2022:

Graph (5) Percentages of Private-Sector Exports by Groupings and Economic Blocs (First Quarter 2022):

Share (%) in total

The Asian countries (excluding GCC and Arab countries) topped the list of the most important destinations for Qatari private sector exports according to the certificates of origin issued by the Qatar Chamber during the first quarter of 2022. The countries of this grouping received exports amounted to (3,892.52) million Qatari riyals, with 50.4% of the total exports. The grouping of European Union countries came in second place, which received 24.2% of the total exports, with a value of (1,868.84) million Qatari riyals. In the third place came the GCC countries, which received exports of (1,214.53) million Qatari riyals, or 15.7% of the total exports. Then, the Arab countries (excluding GCC) ranked fourth with a value of exports amounting to (402.43) million Qatari riyals, representing 5.2% of the total exports. The United States of America came in fifth place, which received exports of (215.84) million Qatari riyals, equivalent to 2.8%. Sixth, other European countries, with a percentage of 0.95%, and with a value of exports to the grouping countries amounted to (73.64) million riyals. The African countries (excluding Arab countries) ranked seventh, receiving exports amounted to 53.35 million riyals, equivalent to 0.69 % of total exports. Eighth, the grouping of other American countries, with a percentage of 0.08%, and the value of exports amounted to (6.37) million riyals. Then came the grouping of Oceania countries, with exports amounting to (2.71) million riyals, equivalent to 0.04% of total exports.

The number of countries receiving Qatari exports during the first quarter of 2022 was (97) in the above economic groupings. The African grouping came to the forefront with 27 countries. Asia came then with 19 countries, followed by the European Union and Arab countries with (13) countries each, then other American countries with (10) countries, then the GCC with (5), then other European countries with (8) countries, and lastly, the United States of America and one country (Australia) in the Oceania grouping.

(1-4) The Most Significant Trading Partners at the Level of Private-Sector Exports during the First Quarter of 2022:

Table (4) The Most Significant Trading Partners at The Level of Private Sector Exports during the First Quarter of 2022:

Graph (4) The Relative Weight of the Most Significant Commodities Exported by the Private Sector during the First Quarter of 2022

Share (%) in total

The Republic of India (from the grouping of Asian countries excluding the GCC and the Arab countries) topped the list of the most significant trading partners according to the countries that were destinations for private-sector exports during the first quarter of 2022, receiving exports amounted to (1,792.08) million Qatari riyals, which is equivalent to 23.2% of total exports. It was followed by the Netherlands, which received exports amounted to (1,202.75) million Qatari riyals or 15.6%. The Republic of Turkey (from the group of Asian countries excluding GCC and Arab countries) came in the third place, where its markets received exports amounting to (564.64) million Qatari riyals, at a rate of 7.3%. In the fourth place came the United Arab Emirates (from the grouping of GCC), receiving exports amounted to (557.99) million Qatari riyals, at a rate of 7.2%. The Republic of Bangladesh (from the grouping of Asian countries excluding GCC and Arab countries) ranked fifth, with a rate of 6.2%, and exports amounted to (478) million Qatari riyals. In the sixth place came the Republic of China, which received a value of (394.55) million riyals, equivalent to 5.1%. Germany ranked seventh with a value of exports amounting to (338.51) million riyals, which is equivalent to 4.4%. In the eighth place came the Sultanate of Oman, which received (314.33) million riyals of total exports by 4.1%. In the ninth place, Hong Kong received exports, with a value of (251.62) million riyals, equivalent to 3.3%. Lastly, in the tenth place was Indonesia, which received (216.99) million riyals of total exports, equivalent to 2.8%.

Together, these ten countries accounted for 79.1% and a value of (6,111.46) million Qatari riyals of private-sector exports according to the certificate of origin during the first quarter of 2022, totaling around (7,730.23) million Qatari riyals.

Private Sector Exports Quarterly Report – Issue No. 29 – First Quarter – Jan-Mar 2022