Qatar's Q1 2024 Export Unit Value Index Declines by 5.93%

Qatar, 29 May, 2024 : The Quarterly Export Unit Value Index (EXUVI) for the first quarter of 2024 in Qatar witnessed a decline of 5.93% compared to the previous quarter (Q4-2023) and a 21.54% decrease compared to Q1 of 2023.

Issued by the National Planning Council Classification Index (SITC4), the EXUVI monitors changes in the unit value of export goods, reflecting the country's economic status. It classifies data into 10 main groups containing 56 commodities.

The highest relative weight in the EXUVI basket was for "Mineral fuels, lubricants and related materials" at 88.77%, followed by "Chemicals and related products, n.e.s" with 8.04%, and "Manufactured goods classified chiefly by material" with 2.63%.

Quarter-on-quarter analysis revealed decreases across various groups, including "Mineral fuels, lubricants and related materials" by 6.69%, "Machinery and transport equipment" by 2.74%, "Food and live animals" by 1.48%, and "Miscellaneous manufactured articles" by 0.81%. However, increases were observed in "Manufactured goods classified chiefly by material" by 2.49%, "Beverages and Tobacco" by 0.82%, and "Chemicals and related products" by 0.12%.

Year-on-year, the value decreases were primarily attributed to declines in six groups, including "Mineral fuels, lubricants and related materials" by 22.77%, "Chemicals and related products, N.E.C" by 13.43%, and "Miscellaneous manufactured articles" by 7.98%. Conversely, increases were seen in "Commodities and transactions not classified elsewhere in SITC" by 12.27%, and "Food and live animals" by 10.43%, with no change observed in "Animal and vegetable oils, fats and waxes

Source : www.zawya.com