October 6, 2022

Qatar’s first quarter trade surplus rises 62% to QR40 billion

Qatar exported goods worth QR103.8 billion and imported merchandise worth QR29.2 billion in the first quarter of 2022, leading to a trade surplus of QR74.6 billion. This is an improvement of QR39.9 billion or 62.2 percent from that in the same period last year.
Qatar’s export (including exports of goods of domestic origin and re-exports) in Q1-2022 is 62.2 percent more from that in the same period last year. Similarly, imports jumped 21.3 percent year-on-year.
The year-on-year increase in exports was mainly driven by increased shipping of various types of petroleum products. While exports of mineral fuel, lubricants and related materials increased 65.5 percent (QR35 billion), shipments of chemicals and related products jumped 57.1 percent (QR3.4 billion). Exports of crude materials surged by 1013.4 percent (QR800 million), manufactured goods by 30.2 percent (QR600 million) and food and live animals by 83.3 percent (QR30 million).
On other hand, decreases were recorded mainly in exports of machinery and transport equipment by 2.1 percent (QR50 million) and miscellaneous manufactured articles by 2.2 percent (QR10 million).
In Q1-2022, Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 75.5 percent and 41.3 percent respectively, followed by the European Union, accounting for 14.4 percent and 28.5 percent respectively, and GCC, with 5.4 percent and 5.8 percent respectively.

 

Tribune News Network