Qatar’s foreign merchandise trade balance in the fourth quarter of 2021 recorded a trade balance surplus, which is the difference between total exports and imports, of QR71.4 billion, up from QR 24.7 billion in the same quarter of 2020.
This came in the report of the Planning and Statistics Authority (PSA) on ‘Quarterly Foreign Merchandise Trade Statistics, Q4 2021 State of Qatar’ comprising quarterly data on imports, exports, re-exports, and trade balance. The bulletin presents detailed statistics of the foreign merchandise trade of Qatar by commodity and partner country. Quarter-on-Quarter (Q-o-Q) percentage changes are also provided.
Regarding total exports in the fourth quarter of 2021, the report the value of Qatar’s total exports including exports of domestic goods and re-exports amounted to QR100 billion, an increase of QR 50.9 billion, 103.8 percent, compared to the fourth quarter of 2020 which amounted to total exports of QR49.1 billion. It increased by nearly QR 17.4 billion, or 21.1 percent, compared to the third quarter of 2021.
The year on year (Y-o-Y) increase in total exports in the fourth quarter of 2021 was mainly due to higher exports of mineral fuels, lubricants and related materials by QR46.1 billion (116.1 percent), chemicals and related products by QR3.3 billion (64.3 percent), manufactured goods classified chiefly by material QR1.2 billion (88 percent), machinery and transport equipment by QR0.7 billion (52.3 percent).
On the other hand, the decrease was recorded mainly in miscellaneous manufactured articles by QR0.9 billion (76.2 percent).
Concerning imports, the value of Qatar’s imports in the fourth quarter of 2021 was QR28.6 billion; an increase of QR4.2 billion (17.4 percent) compared to imports of QR24.4 billion in the fourth quarter of 2020. It increased by nearly QR3.8 billion, or 15.5 percent, compared to the third quarter of 2021.
The Y-o-Y increase in imports values in the fourth quarter of 2021 is mainly due to increases in machinery and transport equipment by QR1.5 billion (14.9 percent), miscellaneous manufactured articles by QR0.8 billion (18.5 percent), chemicals and related products by QR0.7 billion (28.8 percent), crude materials, inedible except fuels by QR0.5 billion (75.5 percent), manufactured goods classified chiefly by material by QR0.3 billion (8.8 percent).
On the other hand, no significant decrease was recorded in the fourth quarter of 2021.
Regarding major export, import partners in the fourth quarter of 2021, the report said that Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 71.3 percent and 43.7 percent respectively, followed by the European Union, accounting for 18 percent and 27.9 percent respectively, and GCC, with 5 percent and 3.5 percent respectively.