Qatar’s private sector exports recorded a 350% year-on-year (y-o-y) increase to reach QR4.98bn in September 2021, Qatar Chamber reported in its latest monthly economic newsletter.
Based on the chamber’s certificates of origin, Qatar’s private sector exports in September 2021 increased 164% month-on-month (m-o-m). In September 2020, private sector exports stood only at QR1.09bn, the newsletter stated.
The chamber’s report said private sector exports within the first nine months of 2021 amounted to QR20.9bn, up by 88% compared to QR11.1bn in the same period last year.
This growth in private sector exports in September 2021 increased by 155% compared to QR1.95bn in February 2020, which represented the highest value of exports when imposing precautionary measures at the beginning of the pandemic. It also increased by 771% over QR572mn in April 2020, which witnessed the lowest value of exports.
The month-on-month increase in private sector exports for September 2021 was attributed to exports growth through the Unified GCC Model, which jumped 774% from QR383mn in August to QR3.3bn in September, while y-o-y, it amounted to QR208mn or a 1,500% increase, stated the report.
Exports through the GPS Model increased by 669% m-o-m, but slipped 5% y-o-y. Exports through the General Model decreased by 14% m-o-m, but increased by 143% y-o-y. Exports through the Unified Arab Model grew by 35% m-o-m and by 48% y-o-y. Exports through the Unified Model to Singapore amounted to QR70mn. However, there were no exports through this model registered in September 2020 or in the previous month.