Qatar: Export Unit Value Index down by 5.93% in Q1 2024

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Doha: The Quarterly Export Unit Value Index (EXUVI) for the first quarter of 2024 decreased by 5.93 percent compared to the previous quarter (Q4-2023), and 21.54 percent versus Q1 of 2023.

Issued by the National Planning Council Classification Index (SITC4), the EXUVI classified the data into 10 main groups that contain 56 commodities and it monitors a changes of a unit value of export goods and reflect the economy status of the country.

These three groups together make about 99.5 percent of the EXUVI basket. The highest relative weight was for “Mineral fuels, lubricants and related materials” 88.77 percent, the second position was for “Chemicals and related products, n.e.s” with 8.04 percent, and the third position was for “Manufactured goods classified chiefly by material” with 2.63 percent.

An analysis on Q-o-Q basis of EXUVI for Q1 2024 compared with EXUVI, Q4-2023, showed a decrease across “Mineral fuels, lubricants and related materials” by 6.69 percent, followed by “Machinery and transport equipment” by 2.74 percent, “Food and live animals” by 1.48 percent, and “Miscellaneous manufactured articles” by 0.81 percent.

An increase has been recorded in “Manufactured goods classified chiefly by material” by 2.49 percent, “Beverages and Tobacco” by 0.82 percent, and “Chemicals and related products” by 0.12 percent. Groups that remained unchanged during this quarter, “Crude materials, inedible, except fuels”, “Animal and vegetable oils, fats and waxes”, and “Commodities and transactions not classified elsewhere in SITC”.

This Y-o-Y value decreases primary due to the unite value decreasing in six groups namely: “Mineral fuels, lubricants and related materials” by 22.77 percent, followed by “Chemicals and related products, N.E.C” by 13.43 percent, “Miscellaneous manufactured articles” by 7.98 percent, “Beverages and Tobacco” by 3.68 percent, “Manufactured goods classified chiefly by material” by 0.81 percent, and “Machinery and transport equipment” by 0.02 percent.

An increase has been shown in “Commodities and transactions not classified elsewhere in SITC” by 12.27 percent, “Food and live animals” by 10.43 percent, “Crude materials, inedible, except fuels” by 0.14 percent. There was no change in “Animal and vegetable oils, fats and waxes”.