Doha: Qatar recorded a merchandise trade surplus (difference between total exports and imports) in the third quarter of 2022 of QR 107.3 billion, compared to QR 57.8 billion in the third quarter of 2021, an increase of 85.6%.
The Planning and Statistics Authority (PSA) has issued the press release on “Quarterly Foreign Merchandise Trade Statistics, Q3 2022 State of Qatar”, comprising quarterly data on imports, exports, re-exports and the trade balance. The bulletin presents detailed statistics of Qatar’s foreign trade in goods by product and by partner country. Quarter-over-quarter (QoQ) percentage changes are also provided.
Total exports: As of the third quarter of 2022, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR 138.8 billion, increased by QR 56.2 billion (68.0 %) from Q3 2021, which stood at QAR 82. .6bn. And increased by almost 12.8 billion QR or 10.2% compared to Q2 2022.
The increase in total exports in the third quarter of 2022 year-on-year (YoY) was mainly due to higher exports of mineral fuels, lubricants and related materials by QR 54.2 billion (77.1%), chemicals and allied products nes by QR 1 billion (13.2%), manufactured goods Classified mainly by material by QR 0.6 billion (36.6%), miscellaneous manufactured articles by QR 0.4 billion (184, 2%). On the other hand, decreases were recorded mainly in machinery and transport equipment by QR 0.03 billion (1.6%), food and live animals by QR 0.002 billion (7.7%).
Imports: Qatar’s import value in Q3 2022 was QR 31.5 billion; increased by QR 6.7 billion (27.1%) compared to Q3 2021 imports of QR 24.8 billion. And increased by almost 4.1 billion QR or 15.0% compared to Q2 2022. (Tables 1, 2)
The increase in the value of imports in the third quarter of 2022 (year-on-year) is mainly due to the increase in miscellaneous manufactured articles by QR 1.9 billion (44.8%), machinery and transport equipment by QR 1.9 billion .6 billion QR (16.2%), food and live animals by 1.3 billion QR (56.0%), manufactured goods classified mainly by material by 0.8 billion QR (21.3 %), chemicals and allied products nes by QR 0.7 billion (26.9%), mineral fuels, lubricants and related materials by QR 0.3 billion (142.7%). However, no significant drop was recorded in Q3 2022.
Top Export/Import Partners: During Q3 2022, Asia was Qatar’s top export destination and Qatar’s top import origin, accounting for 60.5% and 40.1% respectively, followed by by the European Union, representing 28.1% and 26.4% respectively, and GCC, with 8.3% and 6.2% respectively.