Qatar Chamber (QC) reported that the total value of the private sector’s exports reached QAR 12.2 billion in 2024, marking a 41% decline compared to the previous year. However, exports surged significantly in the fourth quarter, providing a positive end to the year.
In its quarterly report, QC highlighted that Q4 exports (October to December) totaled QAR 4.48 billion, representing a 68.5% year-on-year increase from Q4 2023’s QAR 2.66 billion and a 75.3% rise compared to Q3 2024.
The report detailed that exports through the General Model certificate accounted for 76.7% of the total, followed by the GCC Model (18.7%), the Unified Arab Model (3.9%), and the Singapore Model (0.7%).
Commodity Performance and Regional Exports
Among the top 10 commodity groups, most recorded growth except for fuel products and essential oils. Chemical fertilizers saw the most significant annual increase at 379.6%, followed by lotrene and chemicals, both rising 233.7%. Aluminium and steel exports grew by 6.1% and 72.9%, respectively. However, fuel products fell by 21.6%, and essential oils dropped by 43.9%.
Quarterly comparisons also showed notable growth: chemical fertilizers surged by 685%, chemicals by 223.3%, and steel products by 17.4%. In contrast, fuel products and paraffin experienced quarterly declines of 41% and 54.5%, respectively.
Exports were geographically diverse, with Asia (excluding GCC and Arab countries) receiving the largest share of Q4 exports at QAR 2.62 billion (58.4%). GCC countries followed, accounting for QAR 1.08 billion (24%).
Top Export Destinations
India was the leading destination for Qatar’s private sector exports in Q4 2024, with QAR 1.5 billion (34.3%). The UAE ranked second, receiving QAR 638 million (14.2%), followed by Bangladesh with QAR 528 million (11.8%). Morocco and the Netherlands rounded out the top five, receiving QAR 209 million (4.7%) and QAR 187 million (4.2%), respectively.
QC’s report emphasized that the fourth-quarter rebound, driven by increased exports of fertilizers, chemicals, and metals, is a promising sign for the private sector despite the overall annual decline.
