Qatar Ranks 6th Globally in Terms of Trade Surplus in 2022

Qatar

The State of Qatar was ranked in sixth place in terms of trade surplus in 2022, up five spots from 2021, with a trade surplus of $ 97.5 billion.

According to a report by the Russian "RIA Novosti" news agency, Qatar came ahead of Germany, which dropped to seventh place globally with a surplus of $ 85.34 billion, 2.5 times lower than 2021 results.

Under the title 'China and Russia become world leaders in trade surpluses,' the report by the Russian "RIA Novosti" news agency stated that China and Russia became the world leaders in terms of trade surplus in 2022 and broke their records for that indicator.

According to the study by RIA Novosti, during 2022, China's trade surplus rose by 30% and reached its peak point in the entire history of observations - $ 877.6 billion. Russia increased its surplus by 1.7 times to a record $ 333.4 billion, allowing it to rise to second place among the largest economies in the world, while Saudi Arabia came third ahead of Norway and Australia. The study was based on data from the national statistical services of the 60 largest economies in the world from January till December. The final sample includes economies that, as of mid-March, disclosed data for 2022 and received a trade surplus.

Qatar's trade balance surged 64.9% on annual basis with the support of increased Qatari exports. According to the Planning and Statistics Authority (PSA), in 2022, Qatar recorded a trade balance surplus of QR 354.85 billion compared to QR 215.25 billion in 2021. Qatar's trade balance performance was supported by the increase in Qatar's exports by 50.2% to reach QR 476.71 billion compared to QR 317.42 billion in 2021. Meanwhile, Qatar's imports increased by 19.3% to reach QR 121.86 billion in 2022 compared to QR 102.17 billion in 2021.

(QNA)