Qatar Merchandise Trade Balance Jumped 198.2 Percent in Q2 of 2021

Planning and Statistics Authority

 

Qatar's merchandise trade balance (the difference between total exports and imports) jumped by 198.2 percent during the second quarter of this year, compared to the same quarter of last year.

The Planning and Statistics Authority (PSA) published the "Quarterly Foreign Merchandise Trade Statistics, Q2 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.

Concerning foreign merchandise trade balance in Q2 2021, Qatar recorded a merchandise trade balance surplus (difference between total exports and imports) of QR 46.4 billion up from QR 15.5 billion in Q2 2020

The value of Qatars total exports (including exports of domestic goods and re-exports) amounted to QR 71.1 billion, increased by QR 33.3 billion (88.1 percent) compared to Q2 2020 which amounted total exports of QR 37.8 billion. And increased by nearly QR 7.2 billion or 11.2 percent compared to Q1 2021.

The Q2 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 29.1 billion (98.7 percent), Chemicals and Related Products n.e.s. by QR 3.8 billion (100.0 percent), Manufactured Goods Classified Chiefly By Material QR 0.7 billion (62.1 percent). On other hand decreases was recorded mainly in Crude Materials, Inedible, Except Fuels by QR 0.04 billion (42.1 percent), and Machinery and Transport Equipment by QR 0.4 billion (14.0 percent).

The value of Qatars imports in Q2 2021 was QR 24.8 billion; increased by QR 2.5 billion (11.2 percent) compared to Q2 2020 imports of QR 22.3 billion. And increased by nearly QR 0.8 billion or 3.1 percent compared to Q1 2021.

The Q2 2021 (Y-o-Y) increase in imports values is mainly due to increases in Manufactured Goods Classified Chiefly By Material by QR 0.9 billion (26.9 percent), Machinery and Transport Equipment by QR 0.6 billion (6.5 percent), Chemicals and Related Products n.e.s. by QR 0.4 billion (14.9 percent), Crude Materials, Inedible Except Fuels by QR 0.3 billion (48.8 percent), On other hand decreases was recorded mainly in and Food and Live Animals by 0.2 billion (8.3 percent).

During Q2 2021, Asia was the principal destination of Qatars exports and the first origin of Qatars imports, representing 72.3 percent and 39.7 percent respectively, followed by the European Union, accounting for 11.2 percent and 31.8 percent respectively, and GCC, with 8.6 percent and 3.3 percent respectively. (QNA)