The total volume of Qatar’s private sector exports during the first quarter reached QR5.08bn, showing a decrease of 12% compared to the first quarter of 2020 (QR5.78bn), Qatar Chamber said in a newsletter.
Exports of six commodities increased in the first quarter of 2021 compared to the same period in 2020.
Industrial gases topped the list of commodities registering an increase of 181%, followed by lutreine, which increased by 84.4%, paraffin (+29%), chemical substances (+22.1%), aluminium (+5.3%) and petrochemicals (+3.5%).
Exports of other commodities such as chemical fertilisers, essential and industrial oils and steel decreased by 57.4%, 42.9%, and 41.7% respectively.
Asian countries topped the list of blocks that accounted for the highest Qatari exports (QR815mn, or 42%) in March, data released by Qatar Chamber show.
This was followed by GCC states with a share of 37.7% and exports valued at QR730mn.
The block of European Union states was in third place, with exports totalling QR280mn, representing 14.4% of the total value, followed by Arab countries (excluding GCC states) that received QR79mn with a share of 4.1%.
Country-wise, in March, Oman topped the countries of destination of private sector’s exports with QR582mn, a share of 30% of the total.
It was followed by India with almost QR321mn and a share of 16.5% and Hong Kong with about QR233mn (12%).
Netherlands came in fourth place with nearly QR180mn, a share of 9.3% followed by Turkey with exports amounting to about QR152mn, (7.8%).
The value of private sector exports to these countries represented 75.7% of the total value of exports during the same month.
In March, Qatar’s private sector exports exceeded QR1.938bn, indicating the economic status reached to its pre-pandemic levels.
This indicates a month-on-month increase of 17.9% compared to QR1.644bn in February, while on a year-on-year basis, it decreased by 0.3% compared to QR1.954bn as on March 2020.
This increase, Qatar Chamber noted, “demonstrated its ability and Qatar economy in general to overcome the repercussions of the Covid-19 pandemic and returning to pre-pandemic levels.”
In March, private sector exports jumped by 238% compared to April 2020, while it decreased by 0.7% compared to February 2020, which was the highest during this period.
The newsletter said, “Data of the State’s foreign trade and private sector’s exports whether on a monthly or quarterly basis showed promising results. This indicates that the Qatari economy has witnessed a remarkable recovery from the negative impacts of Covid-19 pandemic which has spread throughout the world and prompted most countries to impose strict preventive measures including partial or entire closure.”
The newsletter also said that Qatar, like other countries, has implemented strict preventive measures against the pandemic to protect the society and economy since April 2020.