Qatar’s non-oil exports reached the pre-blockade levels in July proving the success of the country’s private sector in bypassing the siege.
The total value of Qatar’s non-oil exports in July reached QR1.3bn compared to QR793m in June, recording an increase of nearly 67 percent, a monthly report released by Qatar Chamber (QC) on the foreign trade of the private sector showed.
The report, which was prepared based on certificates of origin issued by QC’s Research and Studies Department and Member Affairs Department, showed that non-oil exports were distributed to about 59 countries in July compared to 56 in the previous month. the total value of non-oil exports since the beginning of the year has touched QR8.9bn. “The return of the non-oil exports level to its previous value, before the siege, proves the success of Qatar’s private sector in overcoming the consequences of the siege,” said Saleh bin Hamad Al Sharqi, Director General of QC.
He underlined the fact that the increase in the number of countries receiving the Qatari non-oil exports to about 60 countries, was the result of strong external trade relations that have enabled exports to find new and diversified destinations and open up new markets to Qatari exports.
According to the report, Oman topped the countries receiving Qatari non-oil exports for the second month in a row, with total exports worth about QR422m representing some 31 percent of total exports. There was also a 42 percent increase in exports to Oman in July. Al Sharqi stressed that the growth in exports to Oman was a real translation of the strong economic ties between the two countries, noting that Qatar and Oman have joint memorandums of understanding and investment partnerships in all sectors. The report revealed, that there was a decrease in the Arab countries (12 countries) compared to June, after excluding Saudi Arabia and Bahrain from the list completely.
The Kingdom of the Netherlands came in second place with total exports amounting to QR301.08m, representing 22.7 percent of the total value of exports. In third place came Turkey with total exports amounting to QR106.57m, 8 percent of the total exports. Germany came in the fourth place with QR74.15m (5.6 percent) and China in the fifth place with exports amounting to QR54.47m (4.1 percent).
The report showed the rise of the European countries to first place in terms of region and economic groups receiving the Qatari exports in July 2017. European markets received 38.53 percent of Qatar’s total non-oil exports during the month with a total export value reaching QR511.7m.
The GCC countries, mostly Oman, came second place with exports amounting to QR436.9m, representing 32.9 percent of total exports. The region is followed by other Asian countries, coming third with exports worth QR285.33m, accounting for 21.49 percent of the total exports during the month. Aluminum worth QR335.8m, in various forms (alloys, cutters, molds and slabs) topped the exported goods, representing 25.3 percent of the total value of non-oil exports during July 2017, followed by gas oils with a value of QR313.5m ( accounting for 23.6 percent of non-oil exports). Base oil exports came in the third place with QR181.4m (13.7%), followed by Helium worth QR91.2m, iron, steel, iron bars and nets, paraffin, chemicals, chemical fertilisers, polyethylene and plastic bags among the others.