QATAR CHAMBER OF COMMERCE: Qatar non-oil exports soar to QR2.2 billion in February

Source: Qatar Chamber of Commerce
Source: Qatar Chamber of Commerce

Qatar Chamber of Commerce issued the following announcement on March 24.

Qatar’s non-oil export has recorded a significant increase of 4.8 percent to QR2.2b in February 2018, compared to January 2018 when it was QR2.1b, and an increase of 29.4% compared to February 2017 in which the value was QR 1.7b, Qatar Chamber (QC) said.

The Chamber, in its report which was prepared based on certificates of origin issued by the Chambers Research & Studies Department and Member Affairs Department, pointed out about 2620 certificates of origin were issued in February 2018.

In February, Qatar exported goods and services to about 62 countries, compared to 59 in January. Countries receiving Qatar’s non-oil exports included 12 Arab countries and GCC, 13 European countries including Turkey, 17 Asian countries (excluding Arab countries), 17 African countries (excluding Arab countries), 3 countries of North and South Americas.

Oman was still Qatar’s top non-oil exports destination in February accounting for QR 1,178 million or 54.4 percent of the total exports. It was followed by Hong Kong with almost QR 121.85m or 5.62 percent and Germany with QR118.94m or 5.5 percent.

Turkey came in fourth place with almost QR 104m or 4.8 percent followed by Switzerland with QR98.6m or 4.5 percent. Netherland was in the sixth place followed by India, Indonesia, Bangladesh and China.

“It is clear that 89.22 percent of the total value of exports were received by the first ten countries abovementioned,” the QC report said.

GCC countries as an economic bloc were top destinations of Qatari exports amounting to 55.01 percent of the total exports with QR1191.3m. Most of them were received by Oman and Kuwait.

European countries including Turkey come in the second place amounting to 20.1 percent of the total value with QR435m.

Asian countries come in the third place. They imported goods worth QR402.4m, which represents 18.6 percent of the total non-oil exports. In the fourth place, Arab countries received QR74m or3.4percent of the total value. North America came in the fifth place receiving QR46.1or 2.1 percent.

African countries come in the sixth place. They received QR16.2m followed by South America, which received QR0.2m.

Commenting on the report, QCs director general Saleh bin Hamad Al Sharqi said that the quantum leap in non-oil exports affirmed the steadfastness towards achieving the self-sufficiency and economic dependence.

Despite the unfair siege enforced on Qatar, the country continued to implement its strategies aiming at promoting the economic growth and enhancing the outward trade as well as opening new channels of cooperation at all fields with friendly countries, he noted.

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