Qatar’s private sector exports exceeded QR1.64bn in February this year compared to QR1.499bn in January 2021, registering a rise of 10 percent, said Qatar Chamber in its monthly economic newsletter released yesterday. 

The newsletter featured the trade of private sector in February according to the certificate of origin issued by the Chamber. This increase in private sector’s exports is attributed to the increase of exports through the General Model certificate of origin which increased by 16 percent, Unified GCC model which increased by 38 percent and GSP model which grew by 17 percent.

The newsletter, prepared by QCs Research & Studies Department, highlighted a report about the additional support packages for the private sector to mitigate the economic consequences of the pandemic and a report about the Industrial Investment Opportunities Forum which will be held in December. The newsletter said that according to the figures given by Planning and Statistics Authority for February 2021, the total value of foreign merchandise trade amounted to QR28bn, showing a decrease of 3.8 percent compared to the previous month.

In February 2021, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR20.6bn, showing a decrease of 3.3 percent compared to QR21.3bn in January. The imports of goods in the said month amounted to around QR7.4bn, showing a decrease of 5.1 percent compared to QR7.8bn in January. 

Qatar’s country’s foreign merchandise trade balance, showed a surplus of QR13.2bn.

The QC’s newsletter noted that the private sector exports emphasized its ability and the resilience of Qatari economy in general to overcome the repercussions of the COVID-19 pandemic. The value of private sector’s exports in February increased by 190 percent compared to April 2020 which is the lowest value due to the precautionary measures to contain the spread of Covid-19, while it decreased by 16 percent compared to February 2020 in which exports registered the highest level.

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