Doha: Qatar Chamber has issued its monthly economic newsletter for October which highlighted the most prominent trends in the Qatari economy, as well as statistics related to foreign trade and trade of private sector in August according to the certificates of origin issued by the Chamber.
The newsletter said that exports of the private sector in August as per certificates of origin issued by the Chamber stood at to QR 1.9 billion, showing a month-to-month increase of 10 percent compared to QR 1.7 billion in July, while on a year-to-year basis, it grew by over 100 percent compared to QR 929 million in August last year.
The newsletter, prepared by QCs Research and Studies Department, highlighted a report about exports of the private sector in August 2021.
This growth of private sector exports on a month-to-month base is attributed to the increase in exports through the General Model which grew by 44 percent from QR 918 million in July to QR 1.3 bn.
Similarly, exports through the GPS Model increased by 19 percent and exports through the Unified Model to Singapore amounted to QR 63 million.
On the other hand, exports through the Unified GCC Model amounted to QR 382.7 million, showing a decrease of 44 percent compared to QR 680 million in July.
Also, exports though the Unified Arab Model amounted to QR 69.9 million, showing a decrease of 10 percent compared to QR 78 million in the previous month.
While on a year-on-year base, exports of private sector increased through the Unified GCC Model, Unified GCC Model, Arab Unified Model and Singapore by 158 percent, 91 percent, 30 percent, and 736 percent respectively, while exports though the GPS decreased by 72 percent.
In August 2021, the private sectors exports of Aluminum increased by 29 percent on month-to-month base and by 37 percent on year-to-year base.
Essential oils decreased by 7 on month-to-month base, while they increased by 107 percent on year-to-year base, while industrial gases exports increased by 105 percent on month-to-month base and by 776 percent on year-to-year base.
Similarly, chemicals increased sharply by 275 percent on month-to-month base and by 442 percent on year-to-year base.
Lotrene exports decreased by 3 percent on -month-to-month base, while they increased by 110 percent on year-to-year base.
Also, petrochemical exports decreased by 10 percent on month-to-month base, while they increased by 201 percent on year-to-year base.
Paraffin exports decreased by 65 percent on month-to-month base and 8 percent on year-to-year base. Steel exports decreased by 34 percent on month-to-month base and by 71 percent on year-to-year base, while no chemical fertilizers exports registered in August.
As for economic blocs and groupings, Asian countries excluding GCC states were at the top of economic blocs that received private sector exports amounting QR 872 million with a share of 46.3 percent of the total value, followed by EU states with a share of 25.2 percent with exports of QR 474 million.
In third place came the group of GCC states, with exports totaling QR 435 million representing 23.1 percent of the total value, followed by Arab countries excluding GCC states that received 72 million, a share of 3.8 percent and African Countries Group excluding Arab countries amounted to QR 30 million, or a share of 1.6 percent of the total exports.
Other American Countries came in the sixth place with exports amounted to 1.1 million, or a share of 0.06 percent, followed by Other European Countries Group which received exports worth of QR 1.05 million.
No exports were received by USA and Oceania during the said month. In August 2021, India was the top destination countries of private sector exports with close to QR 524 million, a share of 27.8 percent of the total exports.
It is followed by Oman with almost QR 220 million and a share of 11.7 percent and Netherlands with about QR 184 million, a share of 9.7 percent.
China came in fourth place with almost QR 178 million, a share of 9.5 percent and Germany with exports amounted to about QR 163 million, a share of 8.7 percent.
The value of private sector exports to these countries represented 67.3 percent of the total value of exports during the same month.
The QC newsletter said that according to the figures given by The Planning and Statistics Authority for August, the total value of foreign merchandise trade amounted to QR 35.4 billion, showing a significant increase of 67.2 percent compared to QR 21.2 bn in August last year and an increase of 0.2 percent compared to QR 35.3 bn in the previous month and
In August, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 27.3 bn, showing a sharp increase of 94.3 percent compared to QR 14.1 bn in August last year and an increase of 0.6 percent compared to QR 27.5 bn in July 2021.
The imports of goods in the said month amounted to around QR 8.1 billion, recording a growth of 2.9 percent compared to QR 7.1 bn in July, and a growth of 13.6 percent on a year-to-year basis.
Therefore, the countrys foreign merchandise trade balance, which represents the difference between total exports and imports, amounted to QR 19.2 bn, showing a surplus of QR 12.277 bn, an increase of 177.4 percent compared to QR 6.9 bn in August 2020, while on a month-to-month base it decreased by 2.02 percent.
In August, China was at the top of the countries of destination of Qatar’s foreign trade with about QR 6 billion, a share of 17.1 percent of the states total foreign trade.
