Exports of the private sector in June of 2020 amounted to QR973 million, compared to about QR609.6 million riyals in May, a significant month-on-month increase of 60 percent, indicating the recovery of the Qatari economy at a good level for the second month in a row.
This came in the monthly economic newsletter issued by the Qatar Chamber (QC), which included an analysis of the most prominent trends in the Qatari economy as well as a report on the statistics related to Qatar’s foreign trade and private sector trade for June 2020.
The QC report also included figures from the Planning and Statistics Authority (PSA) about Qatar’s total value of foreign merchandise trade in June and the private sector exports as per certificates of origin issued by the Chamber.
The total value of foreign merchandise trade in June reached QR 19.6bn, which increased by 9.8 percent from QR19.3bn in April.
The total exports of goods (including exports of goods of domestic origin and re-exports) reached QR 12.7 billion, while imports during the same month reached about QR 6.9 billion.
Therefore, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 5.8 billion, recording an increase of 7.4 percent compared to QR 5.4 billion in May.
In June 2020, China was Qatar’s largest trade partner with trade exchange volume close to QR 3.2 billion, a share of 16.3 percent of Qatar’s total foreign trade.
Exports through the GCC model certificate of origin form have the largest value in June, increasing 93 percent m-o-m, while the lowest was the Unified Arab certificate which increased by only 19 percent.
With regard to exports of the private sector in H1 of the current year, it is obvious that they have steadily improved, recording a 70 percent growth compared to 47 percent in April which was the lowest value due to the precautionary measures to face the pandemic of coronavirus.
Exports of steel have seen a sharp increase of 488 percent from QR 0.94 in May to QR 0.16 million in June, followed by Paraffin which increased by 160 percent from QR 29mn in May to QR 74 mn in June and Chemical Substances with exports amounted to QR 95mn compared to QR 40mn in May, an increase of 136 percent.