Qatar has recorded a merchandise trade balance surplus (difference between total exports and imports) of QR39.9bn in the first quarter of this year, up from QR33.6bn in the first quarter (Q1) of 2020, according to data released by Planning and Statistics Authority. The value of Qatar’s total exports (including exports of domestic goods and re-exports) in the first quarter of 2021, amounted to QR64bn, increased by QR4.5bn (7.5 percent) QR59.5bn in Q1 of 2020. Exports increased by nearly QR14.9bn or 30.4 percent compared to the fourth quarter of 2020. The year on year (Y-o-Y) increase in total exports was mainly due to higher exports of Mineral fuels, lubricants and related materials by QR2.8bn (5.5 percent), Chemicals and Related Products by QR1.6bn (37.2 percent), Machinery and Transport Equipment by QR0.5bn (32.1 percent). However, the decline was recorded mainly in Miscellaneous Manufactured Articles by QR0.5bn (63.2 percent), and Food and live animals by QR0.02bn (33.3 percent). The value of Qatar’s imports in the first quarter of 2021 was QR24 bn; which decreased by QR1.9bn (7.3 percent) compared to imports of QR25.9bn in the first quarter of 2020. Decline of nearly QR0.3bn or 1.3 percent was registered compared to the fourth quarter of 2020.
The year-on-year decrease in imports values is mainly due to decreases in Machinery and Transport Equipment by QR1.6bn (15.3 percent), Crude Materials, Inedible Except Fuels by QR0.3bn (29.2 percent), Manufactured Goods Classified Chiefly By Material by QR0.4bn (9.1 percent). On other hand increases was recorded mainly in Chemicals and Related Products by QR0.2bn (10.1 percent) and Food and Live Animals by 0.07bn (2.7 percent). During the first quarter of 2021, Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 81.8 percent and 40.7 percent respectively, followed by the European Union, accounting for 7.7 percent and 31.8 percent respectively, and GCC, with 4.1 percent and 3.2 percent respectively. The Planning and Statistics Authority released yesterday a report on “Quarterly Foreign Merchandise Trade Statistics, Q1 2021 State of Qatar”, comprising quarterly data on imports, exports, re-exports, and trade balance. The bulletin presents detailed statistics of the foreign merchandise trade of Qatar by commodity and partner country.
Qatar’s foreign merchandise trade surplus was at QR24.7bn in the fourth quarter of last year (Q4, 2020), down from QR38.4bn recorded for the corresponding quarter in 2019. During the fourth quarter of 2020, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR49.1bn, which decreased by QR16.7bn (25.4 percent) compared to QR65.7bn during the same period in 2019. When compared on quarterly basis, exports had risen by nearly QR8bn or 19.4 percent compared to the third quarter of 2020 (Q3 2020).