QATAR: Qatar’s private sector exports for 2024 amounted to QAR 12.2 billion, according to the latest report from the Qatar Chamber (QC). This figure marks a 41% decrease in annual exports compared to the previous year, reflecting the global economic challenges faced throughout the year. Despite the overall decline, the report highlights a significant rebound in the fourth quarter, with exports showing a remarkable 68.5% growth. This surge in exports was driven by several factors, including a boost in demand for Qatari products in international markets and the strategic efforts made by the private sector to expand its reach.
The drop in total exports for the year can be attributed to a combination of factors such as the ongoing geopolitical uncertainties and disruptions in global supply chains. Many industries faced challenges due to fluctuating raw material prices and reduced demand for certain goods. However, the rebound in Q4 indicates that businesses in Qatar are adapting to these challenges and finding new opportunities for growth. This recovery reflects the resilience and agility of Qatar’s private sector in navigating a changing global landscape.
The growth in Q4 was driven by various sectors, including construction materials, chemicals, and food products, all of which saw a surge in demand during the last quarter of the year. These industries were able to capitalize on opportunities in emerging markets and strengthen their foothold in existing ones. The government’s efforts to support the private sector through initiatives such as trade agreements and investment in infrastructure also played a crucial role in the recovery.
Looking ahead, the Qatar Chamber anticipates a more stable and positive outlook for 2025, with exports expected to continue their upward trajectory. The chamber believes that ongoing investment in innovation, digitalization, and expanding trade partnerships will help sustain the growth momentum. This positive outlook aligns with Qatar’s broader vision to diversify its economy and reduce its dependence on hydrocarbons, making it increasingly reliant on its robust private sector.
