Qatar Makes a Record of QR 39.9 Bn Merchandise Trade Balance Surplus in Q1 2021

The Planning and Statistics Authority (PSA) has published the Press Release on "Quarterly Foreign Merchandise Trade Statistics, Q1 2021 State of Qatar", comprising quarterly data on imports, exports, re-exports, and trade balance. The bulletin presents detailed statistics of the foreign merchandise trade of Qatar by commodity and partner country. Quarter-on-Quarter (Q-o-Q) percentage changes are also provided.

Foreign Merchandise Trade Balance: In Q1 2021, Qatar recorded a merchandise trade balance surplus (difference between total exports and imports) of QR 39.9 billion up from QR 33.6 billion in Q1 2020.

Total Exports: In Q1 2021, the value of Qatar's total exports (including exports of domestic goods and re-exports) amounted to QR 64.0 billion, increased by QR 4.5 billion (7.5 percent) compared to Q1 2020 which amounted total exports of QR 59.5 billion. And increased by nearly QR 14.9 billion or 30.4 percent compared to Q4 2020.

The Q1 2021 year on year (Y-o-Y) increase in total exports was mainly due to higher exports of Mineral fuels, lubricants and related materials by QR 2.8 billion (5.5 percent), Chemicals and Related Products n.e.s. by QR 1.6 billion (37.2 percent), Machinery and Transport Equipment by QR 0.5 billion (32.1 percent). On other hand decreases was recorded mainly in Miscellaneous Manufactured Articles by QR 0.5 billion (63.2 percent), and Food and live animals by QR 0.02 billion (33.3 percent).

Imports: The value of Qatar's imports in Q1 2021 was QR 24.0 billion; decreased by QR 1.9 billion (7.3 percent) compared to Q1 2020 imports of QR 25.9 billion. And decreased by nearly QR 0.3 billion or 1.3 percent compared to Q4 2020.

The Q1 2021 (Y-o-Y) decrease in imports values is mainly due to decreases in Machinery and Transport Equipment by QR 1.6 billion (15.3 percent), Crude Materials, Inedible Except Fuels by QR 0.3 billion (29.2 percent), Manufactured Goods Classified Chiefly By Material by QR 0.4 billion (9.1 percent). On other hand increases was recorded mainly in Chemicals and Related Products n.e.s. by QR 0.2 billion (10.1 percent) and Food and Live Animals by 0.07 billion (2.7 percent).

Major Export/Import Partners: During Q1 2021, Asia was the principal destination of Qatar's exports and the first origin of Qatar's imports, representing 81.8 percent and 40.7 percent respectively, followed by the European Union, accounting for 7.7 percent and 31.8 percent respectively, and GCC, with 4.1 percent and 3.2 percent respectively. (QNA)

Source: QNA

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