Doha: Qatar Chamber has issued its monthly economic newsletter for August which highlighted the most prominent trends in the Qatari economy, as well as statistics related to foreign trade and trade of private sector in June 2021 according to certificates of origin issued by the Chamber.
The newsletter, prepared by QCs Research & Studies Department, highlighted a report about exports of the private sector in June and during the first half of 2021.
The newsletter said that the total value of private sector exports stood at QR12.3bn during the first half of this year, reflecting a 56 percent growth compared to QR7.9bn during the same period last year.
Data showed that Qatari non-oil exports have recovered from the negative impacts of COVID-19 and registered a significant increase whether on month-to-month base or on quarterly-to-quarterly base.
Private sector exports in Q2 of this year amounted to QR7.2bn, recording an increase of 41 percent compared to QR 5.1bn in Q1. In the first half of 2021, Oman topped destinations of Qatari exports, receiving about QR2.58bn.
In June, exports of the private sector amounted to QR2.534bn, showing a month-on-month decrease of 1.4 percent compared to QR2.57bn in May, while on a year-on-year basis, they increased by 161 percent compared to QR973m in June 2020. This increase demonstrated that the private sector has reached the recovery phase and its exports have bypassed their levels at the beginning of the pandemic.
This increase of private sector exports in June compared to the same month last year is attributed to the increase in exports through all types of certificates except for the Unified Arab Model which decreased by 26.4 percent.
Exports through Unified GCC model recorded a sharp increase of 319.4 percent, followed by the General Model which increased by 185.7 percent and exports through GSP model certificate which grew by 9.4 percent. On month-to-month base, exports of private sector increased through the Arab Unified Model and Unified GCC Model by 54.71 percent and 48.55 percent respectively.
Exports though the General Model, Singapore and GPS decreased by 19 percent, 18 percent, and 12 percent respectively.
In June 2021, the private sector’s exports of essential oils decreased by 34.2 on month-to-month base, while they increased by 1413 percent on year-to-year base while steel exports decreased by 52.1 percent on month-to-month base, while they increased by 24.2 percent on year-to-year base.
As for economic blocs and groupings, Asian countries were at the top of economic blocs that received exports of private sector amounted to QR1343m with a share of 53 percent of the total value, followed by GCC states with a share of 33 percent with exports of QR833.7m.
In third place came the group of EU states, with exports totalling QR250.3m representing 10 percent of the total value, followed by Arab countries excluding GCC states that received QR66.1m, a share of 3 percent, African Countries Group with exports amounted to QR21.8m, or a share of 1 percent and the US with exports amounted to QR18m.
