11-07-2021
Qatar's trade balance, which represents the difference between total exports and imports, recorded a surplus of 93.4 billion riyals during 2020, compared to /159.3 billion/ recorded in 2019, a decrease of 41.3 percent.
A statement by the Planning and Statistics Authority on the country's annual merchandise foreign trade statistics stated that the total value of Qatari exports, including exports of local goods and re-exports, amounted to 187.5 billion riyals last year, down 29.4 percent, equivalent to 78 billion riyals, compared to 2019, which recorded a total of 265.5 billion riyals of exports.
The statement attributed the main reason for the decline in total exports, to the decline in the exports of mineral fuels, lubricants and similar materials, with a value of 74.5 billion Qatari riyals, or 32.7 percent, and manufactured goods, mainly classified by material, by 2.4 riyals, or 30.5 percent, and chemicals and their products by 2.1 billion riyals, or 10.3 percent, and inedible raw materials, excluding fuel, at a value of 1.1 billion riyals, or 79 percent.
On the other hand, exports witnessed an increase in machinery and transport equipment by 1.1 billion riyals, or 20%, and miscellaneous manufactures, by 0.9 billion riyals, or 44.9 percent.
The value of Qatari imports during the year 2020 amounted to 94 billion riyals, a decrease of 11.5 percent compared to 2019, which amounted to 106.2 billion riyals.
The main reason for the decline in the value of imports last year compared to the previous year is due to the decrease in imports of machinery and transport equipment by a value of 4.2 billion Qatari riyals, or 10%, and miscellaneous manufactures, with a value of 2.9 billion riyals, or 15%, and inedible raw materials, excluding fuel, with a value of 2.8 billion. riyals and by 50.7 percent.
Also, imports of mineral fuels, lubricants and similar materials decreased by QR 1.1 billion, or 58.9 percent, and manufactured goods, classified mainly by material of manufacture, by QR 0.9 billion, or 5.9 percent, and food and live animals by QR 0.3 billion, or 2.4 percent. On the other hand, the main increases were recorded in chemical substances and their products not mentioned by QR 0.4 billion, or 4.6 percent.
Asian countries ranked first for the countries of destination for Qatari exports during 2020, as well as for the countries of origin for Qatari imports during the same year, as they accounted for 79.9 percent and 38.6 percent, respectively, followed by the European Union at a rate of 8.8 percent, and 30.9 percent, then the Gulf Cooperation Council countries at a rate of 5.3 percent and 3.3 percent, respectively.