Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR13.2bn in March 2021, preliminary figures from the Planning and Statistics Authority showed. The trade surplus in March decreased by nearly QR40m, or 0.3 percent, compared to February 2021. When compared to the corresponding month the previous year, it has increased by QR5.5bn, or 72.7 percent compared to March 2020. The total value of exports of goods, including exports of goods of domestic origin and reexports, in March 2021 reached QR22.1bn, showing an increase of 38.2 percent compared to the same month in 2020. On monthly basis, Qatar’s exports in March 2021 also increased by 7.0 percent compared to February 2021. On other hand, the imports of goods in March 2021 amounted to around QR8.9bn, showing an increase of 6.7 percent over March 2020. When compared on a month-on-month (m-o-m) basis, the imports also increased by 20.1 percent over February 2021.
The year-on-year increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, and others) reaching at about QR13.4bn in March 2021, an increase of 26.6 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR3.2bn, increased by 74.5 percent, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR1.8bn, increased by 145.5 percent. In March 2021, Japan was at the top of the countries of destination of Qatar’s exports with close to QR3.4bn, a share of 15.5 percent of total exports, followed by South Korea with almost QR3.1bn and a share of 14.2 percent, and India with about QR2.9bn, a share of 13.0 percent. During March 2021, the group of “Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR400m, showing a decrease of 44.6 percent.
In second place was “Articles of Jewelry & Parts Thereof, of Precious Metal or of Metal Clad”, with QR400m, showing an increase of 69.3 percent, and in third place was “Motor Cars & Other Motor Vehicles for The Transport of Persons” with QR300m, a decrease of 16.5 percent. In March 2021, China was the leading country of origin of Qatar’s imports with about QR1.2bn, a share of 13.3 percent of the imports, followed by the US with QR900m almost, a share of 10.4 percent, and Germany with QR700m, a share of 8.0 percent.