Qatar’s economy has once again showed signs of resilience, as country’s export and imports have risen recently. Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR12.8bn, reflecting an increase of about QR8.4bn or 194.1 percent compared to April 2020, according to The Planning and Statistics Authority (PSA). As per the preliminary figures of exports of domestic goods and imports for April 2021 released by the PSA,
In April 2021, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR21bn, showing an increase of 77.1 percent compared to April 2020, and decrease of 5 percent compared to March 2021. The imports of goods in April 2021 amounted to around QR8.2bn, showing an increase of 9.2 percent compared to April 2020, and decrease of 8 percent compared to March 2021.
Qatar’s trade surplus has shown a rising trend in the recent past months which demonstrates strength of local economy.
Qatar had recorded a merchandise trade balance surplus of QR39.9bn in the first quarter of this year, up from QR33.6bn in the first quarter of 2020. LNG, mineral fuels, lubricants, related materials, chemicals and related products were the main exported goods from Qatar during the period.
Country’s foreign merchandise trade, which represents the difference between total exports and imports, showed a surplus of QR13.5bn in January, registering a rise of nearly QR4.9bn or 57.6 percent compared to December 2020. The trade surplus also increased by QR1.1bn or 8.7 percent when compared to the corresponding month the previous year.
During the fourth quarter of 2020, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR49.1bn. When compared on quarterly basis, exports have risen by nearly QR8.0bn or 19.4 percent compared to the third quarter of 2020.
According to data released by the Planning and Statistics Authority, the value of Qatar’s total exports (including exports of domestic goods and re-exports) in the third quarter 2020 amounted to QR41.1bn, which has decreased by QR22.6bn compared to QR63.7bn in the third quarter of 2019. When compared on quarterly basis, exports have risen by nearly QR3.3bn or 8.6 percent compared to the second quarter of 2020.
All the indicators of local economy show that the export and trade surplus of Qatar will rise in coming months.