State's Export Unit Value Declines 1.75% In Q4

Doha, February 24 (QNA) - The State of Qatar's Export Unit Value Index saw a decline of 1.75 percent YoY in Q4 of 2022 and closed at 136.58 points. It also declined 13 percent on a quarterly basis. Standard International Trade Classification Index (SITC4) are used in calculating the Export Unit Value Index. It has classified the data into ten main groups containing 56 commodities classified according to the Harmonized System. Each main group have relative weights depends on its value on the base year 2018. The highest relative weight was for "Mineral fuels, lubricants and related materials" 88.77 percent, the second position was for "Chemicals and related products, n.e.s" with 8.04 percent, and the third position was for "Manufactured goods classified chiefly by material" with 2.63 percent. An analysis of the Index's Q4 value compared to that of the previous quarter showed that there were four main groups, where respective indices in this month have increased, namely: "Mineral fuels, lubricants and related materials" by 14.12 percent, followed by "Chemicals and related products" by 2.98 percent, "Manufactured goods classified chiefly by material" by 2.12 percent, and "Machinery and transport equipment" by 1.12 percent, An increase has been recorded in "Crude materials, inedible, except fuels" by 5.3 percent, followed by "Miscellaneous manufactured articles" by 4.84 percent, and "Beverages and Tobacco" by 3.64 percent. and no change are noticed in "Food and live animals", "Animal and vegetable oils, fats and waxes", and "Commodities and transactions not classified elsewhere in SITC". Compared with the same quarter of 2021, a decrease has been recorded in the general index (EXUVI), by 1.75 percent. The decrease was primary due to the unite value rising in five groups namely: "Food and live animals" by 19.8 percent followed by "Chemicals and related products, N.E.C" by 17.22 percent, "Crude materials, inedible, except fuels" by 3.89 percent, "Miscellaneous manufactured articles" by 2.38 percent, and "Mineral fuels, lubricants and related materials" by 0.28 percent. An increase has been shown in "Beverages and Tobacco" by 15.96 percent, "Machinery and transport equipment" by 6.54 percent, and "Manufactured goods classified chiefly by material" by 4.89 percent. no change is noticed in "Animal and vegetable oils, fats and waxes", and "Commodities and transactions not classified elsewhere in SITC". (QNA)