DOHA: Exports by Qatar’s private sector in June amounted to QR973mn, compared to QR609.6mn in May, a month-on-month (m-o-m) increase of 60 per cent. This indicates the recovery of the Qatari economy for the second month in a row.
The figures were revealed in the monthly economic newsletter issued by Qatar Chamber (QC). The total value of foreign merchandise trade in June reached QR19.6bn, an increase of 9.8 percent from QR19.3bn in April.
Total exports of goods (including exports of goods of domestic origin and re-exports) reached QR12.7bn, while imports during the same month reached QR6.9bn. The balance of trade showed a surplus of QR5.8 bn, an increase of 7.4 per cent compared to QR5.4bn in May.
China was Qatar’s largest trade partner with trade volumes close to QR3.2bn, a share of 16.3 per cent of the country’s total foreign trade.
Exports through the GCC model certificate of origin form had the largest value in June, increasing 93 per cent m-o-m, while the lowest was the Unified Arab certificate, which increased by only 19 per cent.
Private sector exports in H1 of the current year steadily improved, recording 70 per cent growth compared to 47 per cent in April, the lowest value due to precautionary measures to face the coronavirus pandemic.
Export numbers
Steel exports have seen a sharp increase of 488 per cent while paraffin increased by 160 per cent from QR29mn in May to QR74mn in June,
Chemical substances exports amounted to QR95mn compared to QR40mn in May, an increase of 136 per cent. Aluminium recorded an increase of 99 per cent from QR160mn in May to QR318 mn in June.
India was at the top of the countries of destination of private sector exports with close to QR247mn, a share of 25.4 per cent of total exports, followed by Oman with almost QR174mn and a share of 17.9 per cent and Turkey with about QR79mn, a share of 8.1 per cent.
Sweden was fourth place with almost QR71mn, a share of 7.3 per cent, and the Netherlands with about QR40mn, a share of 4 per cent.