Qatar’s Trade Balance Accomplishes QAR 12.5 Billion Surplus in November 2019

29 December 2019

The Planning and Statistics Authority issued its initial report on foreign trade statistics for November 2019. The report includes data on exports (of local origin and re-export) and imports. The following is a brief presentation of the data:

Throughout November 2019, the value of the total Qatari exports (which include exports of local origin and re-exports) amounted roughly QAR 22.2 billion, with a decrease of 13.0% compared to November 2018, and with an increase of 10.6% compared to October 2019.

On the other hand, the value of imports commodities increased throughout November 2019 to QAR 9.7 billion, with an increase of 1.7% compared to November 2018, and with an increase of 15.8% compared to October 2019.

In light of this data, the commodities trade balance, which represents the difference between total exports and imports throughout November 2019, accomplished a surplus of QAR 12.5 billion, registering a decrease of QAR 3.5 billion, i.e.  21.8% compared to November 2018; with an increase of almost QAR 0.8 billion, i.e.  6.8% compared to October 2019.

In comparison with November 2018, the value of exports of "NAFT gases and other gaseous hydrocarbons", which represent (the liquefied natural gas, condensate, propane, butane, etc.) decreased to about QAR 14.1 billion and by 8.8%. Moreover, the value of "oils and continental crude mineral oils" decreased to approximately QAR 4.3 billion, i.e.  by 2.7%. However, the value of exports of "NAFT oils obtained from continental mineral materials” decreased to about QAR 1.1 billion, and by 47.0%.

On the exports level as per the main destination countries, Japan came the top rank of the destination countries in relation to the exports of the State of Qatar for November 2019 with a value of about QAR 4.7 billion, i.e. 21.3% of the total value of Qatari exports, followed by China with a value of approximately QAR 3.3 billion, i.e. 15.0% of the total value of exports, and then South Korea, with approximately QAR 3.2 billion, i.e. 14.6%.

In November 2019, "cars and other vehicles designed mainly to transport people" topped the list of goods imports, with approximately QAR 0.4 billion, i.e.  an increase of 9.3% compared to November 2018, followed by the category of "normal aircraft and helicopters” by about QAR 0.4, with an increase of 28.4%, then followed by the category of  “electric appliances for the (telephone) or (telegraph) wires, including network transmitters and parts thereof, to approximately QAR 0.3 billion, with an increase of 40.4%.

On the level of imports according to the main countries of origin, the United States of America came first in terms of imports for the State of Qatar during November 2019 with a value of approximately QAR 2.1 billion and 21.7% of the total value of goods imports, then China with a value of QAR1.2 billion, i.e. 12.0%, and followed by the United Kingdom with a value of QAR 1.0 billion, i.e.  9.9%.