Qatar’s foreign merchandise trade, which represents the difference between total exports and imports, showed a surplus of QR13.2bn in February, registering a decrease of nearly 2.3 percent compared to January. The trade surplus also decreased by 1.9 percent when compared to the corresponding month the previous year (February 2020). The total value of exports goods, including exports of goods of domestic origin and reexports, in February 2021 reached QR20.6bn, showing a decrease of 2.8 percent compared to the same month in 2020. On monthly basis, Qatar’s exports in February 2021 decreased by 3.2 percent compared to January 2021, data released by the Planning and Statistics Authority (PSA) showed. On other hand, the imports of goods in February 2021 amounted to around QR7.4bn, showing a decrease of 4.4 percent over February 2020.
When compared on a month-on-month (M-o-M) basis the imports decreased by 4.7 percent. The year-on-year decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, and others) reaching QR13.4bn approximately in February 2021, a decrease of 3.4 percent. Petroleum oils & oils from bituminous minerals (crude) reaching QR2.5bn, decreased by 21.3 percent, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR1.3bn, increased by 23.8 percent. In February 2021, South Korea was at the top of the countries of destination of Qatar’s exports with close to QR3.7bn, a share of 17.7 percent of total exports, followed by Japan with almost QR3.6bn and a share of 17.5 percent, and India with about QR3.5bn, a share of 17.0 percent.
During February 2021, the group of “Motor Cars & Other Motor Vehicles for The Transport of Persons” was at the top of the imported group of commodities, with QR300m, showing an increase of 23.2 percent. In second place was “Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof “ with QR300m, showing a decrease of 48.3 percent. And in third place was “Parts of Aero planes or Helicopters” with QR200m, a decrease of 25.5 percent. In February 2021, China was the leading country of origin of Qatar’s imports with about QR1.2bn, a share of 16.5 percent of the imports, followed by the US with QR800m almost, a share of 11.1 percent, and Belgium with QR500m, a share of 6.4 percent.