Qatar’s private sector exports reach QR 2.62b in Q2 ’24

Qatar’s private sector exports rose to QR 2.62 billion in the second quarter (Q2) of 2024, a 3.5 per cent increase from QR 2.53 billion in the first quarter, according to Qatar Chamber’s quarterly report. Exports through the General Model and the Unified GCC Model grew, while the Unified Arab Model exports declined.

General Model exports increased by 2.2 per cent, reaching QR 2.04 billion, and the Unified GCC Model saw a 15.3 per cent rise to QR 505 million. In contrast, Unified Arab Model exports dropped by 24 per cent to QR 70.6 million.

Key commodities such as fuel and aluminum recorded declines of 17.7 per cent and 31 per cent, respectively, while essential and industrial oils grew by 9 per cent. Meanwhile, chemical fertilisers exports surged by 3139 per cent, contributing to 81.6 per cent of total exports.

Asia (excluding GCC and Arab countries) remained the top export destination, receiving QR 1.2 billion in Q2, followed by the GCC at QR 625.62 million and the European Union (EU) at QR 543.43 million.

India led the list of export destinations, receiving QR 475.5 million, followed by the Netherlands and the UAE. Together, these top ten countries accounted for 76 per cent of total private sector exports, amounting to QR 2 billion. The report covered exports to 105 countries across various economic blocs.

Attribution: Qatar News Agency (QNA)

Subediting: M. S. Salama