Qatar posts trade surplus of QR24.7 bn in 2020 Q4
Asia remains main destination, representing 80.7 percent of Qatar’s total exports in Q4
QATAR recorded a merchandise trade balance surplus, difference between total exports and imports, of QR24.7 billion in the fourth quarter of 2020 compared to QR .4 billion in the same quarter of the previous year, according to the quarterly bulletin released by the Planning and Statistics Authority (PSA) on Tuesday.
According to the bulletin entitled ‘Quarterly Foreign Merchandise Trade Statistics, Q4 2020 State of Qatar’, the value of Qatar’s total exports including exports of domestic goods and re-exports amounted to QR49.1 billion in the fourth quarter of 2020, a decrease of 25.4 percent compared to the total exports of QR 65.7 billion in the same quarter of the previous year.
The exports, however, increased by nearly QR billion, or 19.4 percent, compared to the third quarter of 2020. The year- on-year (y-o-y) decrease in total exports was mainly due to lower exports of mineral fuels, lubricants and related materials by QR16. billion (29.7 percent), crude materials inedible except fuels by QR0. billion (90.5 percent) and manufactured goods classified chie y by material by QR0. billion ( . percent).
On the other hand increases were recorded mainly in miscellaneous manufactured articles by QR0. billion (174.1 percent), chemicals and related products by QR0.5 billion (10.2 percent) and food and live animals by QR million (16.7 percent).
The value of Qatar’s imports in the fourth quarter of 2020 was QR 24.4 billion, a decrease of 10.9 percent compared to QR 27. billion in the same quarter of the previous year. The imports increased by nearly QR2.9 billion, or 1 .4 percent, compared to the third quarter of 2020.
The y-o-y decrease in imports values is mainly due to decreases in mineral fuels, lubricants and related materials by QR0.1 billion (45.9 percent), crude materials, inedible except fuels by QR 0.7 billion (5 percent), miscellaneous manufactured articles by QR 1. billion (24 percent), machinery and transport equipment by QR0. billion (7.6 percent).
On other hand, increases was recorded mainly in manufactured goods classified chiefly by material by QR0.2 billion (4. percent) and animal and vegetable oils, fats and waxes by 0.01 billion (19 percent).
During the fourth quarter of 2020, Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing
0.7 percent and 41.7 percent respectively, followed by the European Union, accounting for 7.6 percent and 29.9 percent respectively, and GCC, with 5. percent and . percent respectively.
The bulletin, which comprises quarterly data on imports, exports, re-exports, and trade balance, presents detailed statistics of the foreign merchandise trade of Qatar by commodity and partner country.