Doha, Qatar: The total value of the private sector exports in the fourth quarter of 2024 amounted to QR4.48bn, reflecting a y-o-y increase of 68.5% compared to QR2.66bn in Q4/2023, according to a report released by Qatar Chamber.

On a quarterly basis, exports grew by 75.3 % compared to QR2.55bn in Q3/2024. However, the report also noted that total exports for 2024 reached QR12.2bn, marking a 41% decrease compared to the previous year.

The report indicated that, based on the type of certificates of origin issued by the chamber in Q4 2024, the highest export value was recorded through the General Model certificate at 76.7%, followed by the GCC Model at 18.7%, the Unified Arab Model at 3.9%, and the Singapore Model at 0.7%.

The report pointed out that on comparing the export values of the top 10 commodity groups in Q4/2024 with those in Q4/2023, all commodities in the list recorded an increase in export value except for two commodities—Fuel Products, and Essential & Industrial Oils—which recorded decline in exports.

On a yearly basis, chemical fertilizers rose by 379.6%, aluminium and its products by 6.1%, chemicals by 233.7%, lotrene by 233.7%, steel and its products by 72.9%, industrial gases by 2.9%, petrochemicals by 11.9%, and paraffin by 156.8%. However, the export value of fuel products declined by 21.6%, while essential oils dropped by 43.9%.

On a quarterly basis, six commodity groups saw an increase in export values: chemical fertilizers surged by 685%, aluminium and its products by 4.7%, chemicals by 223.3%, lotrene by a significant margin, steel and its products by 17.4%, and petrochemicals by 7.8%. On the other hand, export values declined for four commodities: fuel products by 41%, essential oils and industrial oils by 16.1%, industrial gases by 0.9%, and paraffin by 54.5%.

The newsletter highlights the distribution of exports across ten commodity groups by region and receiving economic blocs during Q4/2024. Chemical fertilizers were exported to four regions, with Asian countries accounting for the largest share at 91%. Aluminium and aluminium products were exported to all nine regions, with Asia receiving the largest share at 80%. Chemicals were also exported to all nine regions, with GCC countries accounting for 85% of total exports. Fuels and fuel products were exported to four of the nine regions, with the EU and GCC countries receiving 47% and 35%, respectively. 

Lotrene was exported to five regions, with Asia accounting for the largest share at 81%, while base and industrial oils were exported to five regions, with EU countries receiving 52% of the total.

Steel and steel products were exported to eight regions, with GCC countries accounting for 89% of total exports. Industrial gases were exported to eight regions, with Asian countries receiving 75%. Petrochemicals were exported to eight regions, with Asia and the GCC receiving the largest shares at 42% and 38%, respectively. Lastly, paraffin was exported to six regions, with EU countries accounting for 52% of the total.

Regarding economic blocs and groupings, Asian countries (excluding GCC and Arab countries) ranked first among recipients of private sector exports during Q4/2024, with a value of QR2,618.32m, accounting for 58.4 percent of the total exports. They were followed by GCC countries, which received QR1,077.76m, representing 24 percent of the total.

According to the report, India was at the top of the countries of destination of private sector exports in Q4/2024 with close to QR1,5bn, a share of 34.3 percent of the total exports.

It is followed by UAE with almost QR638m and a share of 14.2 percent and Bangladesh with about QR528m, a share of 11.8 percent.

Morocco came in fourth place with almost QR209m, a share of 4.7 percent.

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