Qatar’s trade surplus jumps nearly 200% in December
Qatar’s external merchandise trade balance, which is the difference between total exports and imports, showed a surplus of QR 25.7 billion in December 2021, registering an increase of around QR 17.1 billion or 198.9% compared to December 2020.
According to preliminary figures of the value of exports of domestic goods, re-exports and imports released yesterday by the Planning and Statistics Authority, the trade surplus increased by almost QR 1.2 billion or 4.7 % compared to November 2021.
In December 2021, total exports of goods (including domestic goods exports and re-exports) amounted to approximately QR 35.6 billion, an increase of 107.8% compared to December 2020 and an increase of 3.8% compared to November 2021.
Imports of goods in December 2021 amounted to approximately QR 9.9 billion, an increase of 16.2% from December 2020 and an increase of 1.7% from November 2021.
The year-on-year increase (December 2021 compared to December 2020) in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 23.2 billion in December 2021, an increase of 147.1%, Petroleum Oils and Bituminous Mineral Oils (Crude) reaching nearly QR 4.4 billion, an increase of 47 .9% and an increase in petroleum oils and bituminous mineral oils (not crude) reaching 2.7 billion, 77.9%.
As of December 2021, China topped Qatar’s export destination countries with nearly QR 7.1 billion, a 20.1% share of total exports, followed by South Korea with nearly 5, 1 billion QR and a share of 14.4%, from India with around 5 billion QR, a share of 13.9%.
Over one year (December 2021 vs December 2020), the group of “Electrical Devices for Telephony/Wired Telegraphy, Telephone Sets Etc. ; Parts of these” led the group of imported products with 0.5 billion QR, showing an increase of 15.6%.
In second place was “Motor cars and other motor vehicles for transporting people” with 0.4 billion QR, showing an increase of 84.9% and in third place, “Party of balloons, etc.: parts planes, spaceships, etc.” with 0.3 billion QR, an increase of 23.4%.
As of December 2021, China was the top country of origin for Qatar’s imports with around QR 1.8 billion, a 17.7% share of imports, followed by the United States of America with almost 1. QR 3 billion, a 13.6% share, and from the UK. with 0.6 billion QR, a share of 6.1%.