Quarterly exports, imports, and merchandise trade balance, 2021 - 2022 (in million QR)
Doha: Qatar recorded a merchandise trade surplus (difference between total exports and imports) of QR74.6bn in the first quarter of 2022 (Q1 2022), an increase of 87 percent from QR39.9bn during the corresponding period in the previous year (Q1 2021), official data released by the Planning and Statistics Authority (PSA) showed.
The PSA yesterday released the “Quarterly Foreign Merchandise Trade Statistics, Q1 2022 State of Qatar”, comprising quarterly data on imports, exports, re-exports, and trade balance.
During Q1 2022, the value of Qatar’s total exports including exports of domestic goods and re-exports amounted to QR103.8bn, which has increased by QR39.8bn (62.2 percent) compared to QR64.0bn in Q1 2021. When compared on quarterly basis, exports have risen by nearly QR3.8bn or 3.8 percent compared to Q4 2021.
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 QR35.0bn (65.5 percent), “Chemicals and Related Products” by QR3.4bn (57.1 percent), “Crude Materials, Inedible, Except Fuels” by QR800m (1013.4 percent), “Manufactured Goods Classified Chiefly By Material” by QR600m (30.2 percent), and “Food and Live Animals” by QR30m (83.3 percent).
On other hand, decreases were recorded mainly in “Machinery and Transport Equipment” by QR50m (2.1 percent), and “Miscellaneous Manufactured Articles” by QR10m (2.2 percent).
The value of Qatar’s imports in Q1 2022 stood at QR29.2bn, which has increased by QR5.1bn (21.3 percent) compared to QR24.0bn in Q1 2021. When compared on quarterly basis, imports have increased by nearly QR600m or 2.0 percent compared to Q4 2021.
The Y-o-Y increase in imports was mainly due to increases in “Miscellaneous Manufactured Articles” by QR1.7bn (39.7 percent), “Machinery and Transport Equipment” by QR1.2bn (13.7 percent), “Mineral Fuels, Lubricants and Related Materials” by QR600m (299.5 percent), “Chemicals and Related Products” by QR550m (21.2 percent), and “Manufactured Goods Classified Chiefly by Material” by QR520m (14.3 percent). On the other hand, no significant decrease was recorded in Q1 2022.
During 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.
