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Country's Private Sector Bypasses The Seige

Country’s oil exports were on the verge of pre-blockade levels  in July proving the success of the country’s private sector in bypassing the siege.

Qatar’s non-oil exports total value reached QR1.3bn in July compared to QR793m in June, recording an increase of nearly 67 percent, a monthly report released by Qatar Chamber (QC) on the foreign trade of the private sector showed yesterday.

According to the report which was prepared based on certificates of origin issued by QC’s Research and Studies Department and Member Affairs Department, showed that non-oil exports were distributed to about 59 countries in July compared to 56 in the previous month. Since the beginning of the year the total value of non-oil exports has touched QR8.9bn.

Saleh bin Hamad Al Sharqi, Director General of QC, said

“The return of the non-oil exports level to its previous value, before the siege, proves the success of Qatar’s private sector in overcoming the consequences of the siege.”

He stressed on the fact that the increase in the number of countries receiving the Qatari non-oil exports to about 60 countries, was the result of strong external trade relations that have enabled exports to find new and diversified destinations and open up new markets to Qatari exports.

The report stated that Oman topped the countries receiving Qatari non-oil exports for the second month in a row. The total exports worth about QR422m representing some 31 percent of total exports. Oman also experienced a 42 percent increase in exports in July. Al Sharqi told that the growth in exports to Oman was a real translation of the strong economic ties between the two countries, noting that Qatar and Oman have joint memorandums of understanding and investment partnerships in all sectors. The report also stated that there was a decrease in the Arab countries (12 countries) compared to June, after excluding Saudi Arabia and Bahrain from the list completely.

The Kingdom of the Netherlands takes second place with total exports amounting to QR301.08m, representing 22.7 percent of the total value of exports. Then came Turkey with total exports amounting to QR106.57m, 8 percent of the total exports. Germany was on the fourth place with QR74.15m (5.6 percent) and China in the fifth place with exports amounting to QR54.47m (4.1 percent).

The rise of the European countries to first place in terms of region and economic groups receiving the Qatari exports in July 2017 is clearly shown in the report. 38.53 percent of Qatar’s total non-oil exports were received by European markets during the month with a total export value reaching QR511.7m.

Oman came second place with exports amounting to QR436.9m, representing 32.9 percent of total exports. The region is followed by other Asian countries coming third with exports worth QR285.33m, accounting for 21.49 percent of the total exports during the month.

QR335.8m worth of Aluminium in various forms (alloys, cutters, molds and slabs) topped the exported goods, representing 25.3 percent of the total value of non-oil exports during July 2017, followed by gas oils with a value of QR313.5m ( accounting for 23.6 percent of non-oil exports).

Base oil exports took the third place with QR181.4m (13.7%), followed by Helium worth QR91.2m, iron, steel, iron bars and nets, paraffin, chemicals, chemical fertilisers, polyethylene and plastic bags among the others.

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