15 June 2022

Qatar Merchandise Trade Balance Reaches QR 74.6 billion in Q1 of 2022

Local
  • Qatar

Doha, June 15 (QNA) - Qatar recorded a merchandise trade balance surplus (difference between total exports and imports) of QR 74.6 billion up from QR 39.9 billion in Q1 2021.
Total Exports: In Q1 2022, the value of Qatars total exports (including exports of domestic goods and re-exports) amounted to QR 103.8 billion, increased by QR 39.8 billion (62.2 percent) compared to Q1 2021, which amounted total exports of QR 64.0 billion and increased by nearly QR 3.8 billion or 3.8 percent compared to Q4 2021.
The Q1 2022 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 35.0 billion (65.5 percent), Chemicals and Related Products by QR 3.4 billion (57.1percent), Crude Materials, Inedible, Except Fuels QR 0.8 billion (1013.4 percent), Manufactured Goods Classified Chiefly by Material by QR 0.6 billion (30.2 percent), Food and Live Animals by QR 0.03 billion (83.3 percent). On other hand, decreases were recorded mainly in Machinery and Transport Equipment by QR 0.05 billion (2.1 percent), Miscellaneous Manufactured Articles by QR 0.01 billion (2.2 percent).
Imports: The value of Qatars imports in Q1 2022 was QR 29.2 billion; increased by QR 5.1 billion (21.3 percent) compared to Q1 2021 imports of QR 24.0 billion and increased by nearly QR 0.6 billion or 2.0 percent compared to Q4 2021.
The Q1 2022 (Y-o-Y) increase in imports values is mainly due to increases in Miscellaneous Manufactured Articles by QR 1.7 billion (39.7 percent), Machinery and Transport Equipment by QR 1.2 billion (13.7 percent), Mineral Fuels, Lubricants and Related Materials by QR 0.6 billion (299.5 percent), Chemicals and Related Products by QR 0.55 billion (21.2 percent), Manufactured Goods Classified Chiefly by Material by QR 0.52 billion (14.3 percent). On other hand, no significant decrease was recorded in Q1 2022.
Major Export/Import Partners: During Q1 2022, Asia was the principal destination of Qatars exports and the first origin of Qatars imports, representing 75.5 percent and 41.3 percent respectively, followed by the European Union, accounting for 14.4 percent and 28.5 percent respectively, and GCC, with 5.4 percent and 5.8 percent respectively. (QNA)

Keywords

Economy, Qatar
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