Economy

Qatar’s Q3 private sector exports surge 58%

By Pramod Kumar

November 28, 2022, 5:40 AM

Egypt’s exports to Arab countries climbed to $8.8 billion during the period, up 7.6 percent year-on-year

Qatar’s private sector exports reached QAR 9.38 billion ($2.58 billion) during the third quarter of 2022, a rise of 58 percent year-on-year, Qatar Chamber said in a quarterly report.

The increase affirms the ongoing improvement of the private sector’s performance and a return to pre-pandemic levels, the report said.

The total value of private sector exports in nine months exceeded QAR 26 billion, an increase of 24.4 percent year-on-year.

According to the report, fuel exports hit QAR 2.8 billion, showing a significant increase of 241 percent year-on-year.

Exports of essential and industrial oils amounted to QAR 2.5 billion, a 76.2 increase year-on-year.

Aluminum exports fell by 6.9 percent year-on-year, reaching QAR 1.5 billion. On the other hand, chemical fertilizers exports increased 530 percent year-on-year to QAR 673.6 million.

Asian countries (excluding GCC and Arab countries) were at the top of economic blocs that received private sector exports during Q3 2022, amounting to QAR 3.37 billion, or 36 percent of the total exports. The European Union followed with exports amounted to QAR 2.9 billion, or 31 percent of the total value.

The GCC came third, with exports totaling QAR 2.38 billion, representing 25.4 percent of the total value.

In Q3 2022, Oman was at the top of the countries of destination of private sector exports with close to QAR 1.51 billion, followed by the Netherlands at QAR 1.33 billion and India at QAR 1.31 billion, the report said.