Private Sector Exports – First Quarter (January-March 2024)

Private Sector Exports Quarterly Report

First Quarter (January-March 2024)

(A) Analysis of Private Sector Exports in Q1/2024 and comparison on quarterly and yearly basis:

The total value of the private sector exports (according to the certificate of origin issued by the Qatar Chamber) during the first quarter of this year (Q1/2024) amounted to QR 2,534.42 million, representing a slight increase of 6 percent compared to QR 2,390.80 million in Q4/2023.

On a yearly basis, it decreases by 72 percent compared to QR 9,081.30 million in Q1/2023.

Data from Q1/2023 to Q1/2024, as shown in Table (1) and Graph (1) below, indicates that the increase in the value of exports during this quarter came after the value of exports declined consecutively since Q2/2023 after the highest value recorded in Q1/2023.

Table (1): Private sector exports in H1-2023 as per to the type of certificate:

Graph (1) Development of Exports from Q1/ 2023 to Q1/ 2024

No Data Found

(B) Analysis of Private Sector Exports by Certificate of Origin Model in Q1/2024

Table (2) Analysis by the model of Certificate of Origin (Q1/2024 compared with Q1/2023 and Q4/2023):

(Value in million QR riyals)

* Comparing data of Q1/ 2024 with Q1/ 2023 (On an annualized basis)

**Comparing data of Q1/2024 with Q1/2023 (On a quarterly basis)

Graph (2) Exports by Type of Certificate

(Value in million riyals)

No Data Found

Data of Table (2) and Graph (1) indicate that the growth of the total value of the private sector exports during Q1 of 2024 according to the type of certificates of origin issued by the Chamber was due to the increase in exports through the General Model and the Unified GCC Model, while exports through the Unified Arab showed a decrease compared to Q4/2023.

In Q1/2024, exports through the General Model rose by 12 percent (from QR 1,790.03 to QR 2,003.26 million). Similarly, exports through the Unified GCC Model rose by 10 percent (from QR 398.01 to QR 438.29 million). On the other hand, exports through the Unified Arab Model decreased by 54 percent (from QR 202.76 to QR 92.87 million).

On a quarterly basis, exports through the General Model decreased by 73 percent (from QR 7,354.02 to QR 2,003.26 million). Similarly, exports through the Unified GCC Model declined by 70 percent (from QR 1,456.41 to QR 438.29 million), the Unified Arab Model declines by 33 percent from (QR 139.30 to 92.87 million).

No exports were registered through the rest of other models during Q1/2024 and Q4/2023.

(C) Analysis of the Private Sector Exports by the Type of Commodities in Q1/2024:

Table (3) Exports as per the most important commodities in Q1/2024 compared to Q1 & Q3/2023:

(Value in Million Qatari Riyals)

* Comparing data of Q1/ 2024 with Q1/ 2023 (On an annualized basis)

**Comparing data of Q1/2024 with Q4/2023 (On a quarterly basis)

Graph (3) Private sector exports as per the most important commodities in Q1/2024 in comparison with Q1 and Q4/2023:

(Value in million riyals)

No Data Found

Graph (4) The Relative Weight of the Most Significant Commodities Exported by the Private Sector in Q1/2024:

The Relative Weight %

No Data Found

On a yearly basis, we find that private sector exports, categorized by the type of commodities exported, decreased in Q1/2024 compared to Q1/2023 and Q4/2023.
Industrial gases and lotrene are the only two commodities that showed an increase in exports.
On a quarterly basis, we find that five commodities registered an increase which are Fuel, steel, industrial gases, lotrene and paraffin.

The following is a review of the commodities listed in order (according to the highest value in Q1/2024):

  1. Fuel: In Q1/2024, the value of exports of this commodity amounted to QR 528.69 million, showing a decrease of 61.6 percent on a yearly basis compared to its value in Q1/2023, which amounted to QR 1,376.53 million. On a quarterly basis, they increased by 8.6 percent compared to QR 486.65 million in Q4/2023.
  2. Aluminum: The value of exports of this commodity in Q1/2024 decreased by 39.8 percent on a y-on-y basis, reaching QR 438.12 million, compared to QR 728.04 million in Q1/2023.
    On a quarterly basis, it also declined by 10.5 percent compared to its value in Q4/2023, which amounted to QR 489.78 million.
  3. Essential and Industrial Oils: In Q1/2024, this commodity’s exports amounted to QR 392.25 million, with a y-on-y 93.1 percent increase, compared to the same period of the previous year which amounted to QR 5,667.23 million. Quarterly, it also increased by 13.4 percent, compared to QR 453.01 million in Q4/2023.
  4. Steel: The value of steel exports amounted to QR 275.32 million, showing a y-on-y decrease by 2.6 percent compared to QR 282.67 million in Q1/2023. It also increased quarterly by 89.4 percent compared to QR 145.32 million in Q4/2023.
  5. Industrial Gases: The value of exports of this commodity amounted to QR 250.03 million, recording a growth of 24.5 percent on a yearly basis, compared to its value during Q1/2023, which amounted to about QR 200.87 million.
    On a quarterly basis, exports of this commodity also increased by 25.2 percent compared to QR 199.69 million in Q4/2023.
  6. Lotrene: The value of exports of this commodity in Q1/2024 amounted to QR 131.19 million, registering an increase of 108 percent y-on-y compared to its value during the same period of the previous year, which amounted to QR 63.08 million.
    On a quarterly basis, they significantly surged by 7811 percent compared to QR 1.66 million in Q4/2023.
  7. Chemical Substances: The value of this commodity amounted to QR 93.3 million in Q1/2024, recording a 93.3 y-on-y decrease compared to QR 150 million in the same period of the previous year, while they decreased on a quarterly basis by 26.7 percent compared to its value in Q4/2023, which amounted to QR 127.26 million.
  8. Petrochemicals: Exports of this commodity amounted to QR 90.86 million, showing a decrease of 60.8 percent compared to its value Q1/2023, which amounted to QR 232.02 million.
    On a quarterly basis, they decreased by 15.7 percent compared to its value in Q4/2023, which amounted to QR 107.79 million.
  9. Paraffin: The value of exports of this commodity in Q1/2024 amounted to QR 28.12 million, a decrease of 70.3 percent on a yearly basis, compared to its value during the same period of the previous year, which amounted to about QR 94.65 million.
    Quarterly, they increased by 184.9 percent compared to QR 9.87 million in Q4/2023.
  10. Chemical Fertilizers: Exports of the chemical fertilizers in Q1/2024 amounted to QR 10.48 million, a decrease on a yearly basis by 60.1 percent compared to QR 26.26 million in Q1/2023.
    On a quarterly basis, they also decreased by 82.2 percent compared to QR 58.97 million in Q4/2023.

These ten commodities exported by the private sector represent 88 percent of the total value of private export exports, according to the certificates of origin issued by the Qatar Chamber during Q1/ 2024, which amounted to QR 2,238.35 million, registering a 74.6 percent y-on-y decline compared to the same period of 2023 amounted to QR 8,821.34 million and a 7.6 quarter-on-quarter growth compared to QR 2,080.35 million in Q4/2023.

(D) Destinations of Private Sector Exports in Terms of the Regions and Economic Blocs in Q1/2024:

Based on private sector export data during the Q1/2024, we review here the destinations and relative weights of exports of major commodities by the nine receiving regions and economic blocs.

1. Fuel: Fuel exports are concentrated in just two economic regions: the European Union and the GCC countries. European Union countries accounted for the largest share of exports of this commodity at 72 %, followed by GCC countries at 28 %.

Fuel and its products by region %

The Relative Weight %

No Data Found

2. Aluminum: Exports of this commodity are distributed to eight economic blocs. Asian countries accounted for the largest share at 87.5%, followed by GCC countries at 4.8%, Arab countries at 4.5%, and the European Union at 2.2%, with smaller shares going to the remaining blocs.

Aluminum and Its Products by Region (%)

No Data Found

3. Essential and Industrial Oils: Exports of this commodity are distributed to five economic blocs. The European Union accounted for the largest share at 60.3%, followed by Asian countries at 36.6%, and GCC countries at 3%, with smaller shares going to Arab countries and African countries.

Essential and Industrial oils by region %

No Data Found

4. Steel: Exports of this commodity are distributed to all economic blocs. The GCC Countries accounted for the largest share at 62.9%, followed by Asian countries at 36.3%, with smaller shares going to the remaining blocs.

% of Steel by Region

No Data Found

5. Industrial Gases: Exports of this commodity are distributed to six economic blocs. The Asian Countries accounted for the largest share at 24.8%, followed by GCC Countries at 2.85%, and Oceania Countries at 1.5%, with smaller shares going to the US and Arab Countries.

Industrial Gases According to Region (%)

No Data Found

6. Lotrene: Exports of this commodity are distributed to seven economic blocs. The Asian Countries accounted for the largest share at 80%, followed by Arab Countries at 14%, GCC Countries at 3.2%, and European Countries at 3% with smaller shares going to the US and Arab Countries.

Export of Lotrenev by Region (%)

No Data Found

7. Chemical Substances: Exports of this commodity are distributed across all economic blocs. GCC countries accounted for the largest share at 30.7%, followed by Asian countries at 27.2%, Arab countries at 19%, African countries at 13.2%, the European Union at 4.2%, other American countries at 3.7%, and the US at 1.3%, with smaller shares going to other European countries and Oceania.

Export of Chemical Substances by Region (%)

No Data Found

8. Petrochemicals: Exports of this commodity are distributed to five economic blocs. Asian countries topped the list with share of 36.2%, followed by GCC Countries of 29.4%, Arab countries of 27.8%, and the European Unions of 4.7%, with smaller shares going to other blocs.

Export of Petrochemicals by Region (%)

No Data Found

9. Paraffin: Exports of this commodity are distributed to five economic blocs. Asian countries topped the list with share of 58.4%, followed by European Union of 34.8%, and Arab countries of 5.4%, with smaller shares going to GCC Countries and African Countries.

Export of Paraffin by Region (%)

No Data Found

10. Chemical Fertilizers: 100% of exports of this commodity went to Asian countries.

Export of Paraffin by Region (%)

No Data Found

(E) Destinations of Private Sector Exports by Economic Blocs in Q1/2024

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 Q1/2024 which amounted to QR 1,061.91 million with a share of 41.90 percent of the total exports, followed by the European Union which received exports amounted to QR 748.60 million or a share of 29.54 percent of the total value.

In third place came the group of GCC states, with exports totaling QR 571.58 million representing 22.55 percent of the total value, followed by Arab countries excluding Arab countries excluding GCC states that received QR 112.82 million, a share of 4.45 percent and the African countries with exports amounted to QR 14.14 million, or a share of 0.56 percent of the total exports.

The USA came in the sixth place, which received 0.39 percent of the total exports, with a value of QR 9.92 million, followed by other American countries which received exports estimated at QR 6.28 million or a share of 0.25 percent, and Other European Countries with a value of QR 0.18 percent of QR 4.68 million.

Then came the grouping of Oceania countries, with exports amounting to QR 4.49 million, equivalent to 0.177 percent of the total exports.

The number of countries receiving Qatari exports in Q1/2024 was 101 countries in the above economic groupings. The African grouping came to the forefront with 24 countries. Asia came then with 22 countries, followed by the European Union with 20 countries, Arab countries excluding GCC states with 14 countries, other American countries with 9 countries, the GCC with 5 countries, other European countries with 5 countries, the United States of America and one country (Australia) in the Oceania grouping.

(F) Private Sector Exports as per Major Destinations during Q1/2024:

In Q1/2024, Netherlands was at the top of the countries of destination of private sector exports with close to QR 408.60 million, a share of 16.1 percent of the total exports.

It is followed by India with almost QR 350.12 million and a share of 13.8 percent and Oman with about QR 246.12 million, a share of 9.7 percent.

Turkey came in fourth place with almost QR 219.24 million, a share of 8.7 percent and China with exports amounted to about QR 201.91 million, a share of 8 percent.

Germany came in the sixth place which received exports amounting to QR 172.32 million, a share of 6.8 percent, followed by UAE with almost QR 113.01 million, a share of 4.5 percent, Spain with QR 103.18 million, a share of 4.1 percent, KSA with almost QR 90.68 million or 3.6 percent and Kuwait with exports amounting to QR 76.61 million or a share of 3 percent of the total value.

Together, these ten countries accounted for 78.2 percent and a value of QR 1,981.79 million of private sector exports according to the certificate of origin in Q1/2024, totaling around QR 2,534.42 million.

Table (4) Destinations of private sector exports as per economic blocs in Q1/2024

Graph (5) Percentages of Private Sector Exports by Groupings and Economic Blocs Q1/ 2024

No Data Found

Table (5) The Most Important Trading Partners at The Level of Private Sector Exports in Q1/2024

Graph (6) The Most Significant Trading Partners at the Level of Private Sector Exports during Q1/2024

Share (%) in total

No Data Found

Back to top button