The merchandise trade balance of Qatar, which represents the difference between total exports and imports, showed surplus of QR93.4bn in 2020, down from QR159.3bn in 2019, a decrease of 41.3 percent.

According to data released by the Planning and Statistics Authority, in 2020, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR187.5bn, decreased by QR78bn (29.4 percent) compared to 2019 total exports of QR265.5bn.

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 QR74.5bn (32.7 percent), Manufactured goods classified chiefly by material by QR2.4bn (30.5 percent), Chemicals and related products by QR2.1bn (10.3 percent), and Crude Materials, Inedible, Except Fuels by QR1.1bn (79 percent). On the other hand, increases were recorded mainly in

Machinery and Transport Equipment by QR1.1bn (20percent), and Miscellaneous Manufactured Articles by QR0.9bn (44.9 percent).

During 2020, Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 79.9 percent and 38.6 percent respectively.

Followed by the European Union, accounting for 8.8 percent and 30.9 percent respectively, and GCC, with 5.3 percent and 3.3 percent respectively.

The value of Qatar’s imports in 2020 was QR94bn; decreased by QR12.2bn (11.5 percent) compared to Year 2019 imports of QR106.2bn.

The year-on-year decrease in imports reflected decreases in Machinery and transport equipment by QR4.2bn (10 percent), Miscellaneous manufactured articles by QR2.9bn (15 percent), Crude materials, and inedible, except fuels, by QR2.8bn (50.7 percent), Mineral fuels, lubricants and related materials by QR1.1bn (58.9 percent), Manufactured goods classified chiefly by material by QR 0.9bn (5.9 percent), and Food and Live Animals by 0.3bn (2.4 percent). On the other hand, increases were recorded mainly in Chemicals and Related Products n.e.s by QR 0.4bn (4.6 percent).

To view the source of this news, please click (here)