Monthly Economic Newsletter | April 2021

Qatar Foreign Trade (February 2021)

Trade Balance

According to the figures of The Planning and Statistics Authority for February 2021, the total value of foreign merchandise trade amounted to QR 28 billion, showing a decrease of 3.8 % compared to QR 29.1 billion in January 2021.

In February 2021, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 20.6 billion, showing a decrease of 3.3 percent compared to QR 21.3 billion in January.

The imports of goods in February 2021 amounted to around QR 7.4 billion, showing a decrease of 5.1 percent compared to QR 7.8 billion in January.

Therefore, the country’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 13.2 billion almost, recording a decrease of 2.2 percent compared to QR 13.5 billion in January.

Table (1) Trade balance for January & February (Value in QR billion)

Major Trade Partners According to Foreign Trade – February 2021
In February 2021, China was at the top of the countries of destination of Qatar’s foreign trade with about QR 4.5 billion, a share of 15.9 percent of the state’s total foreign trade.

Major Trade Partners According to Exports – February 2021
In February 2021, South Korea was at the top of the countries of destination of Qatar’s exports with close to QR 3.657 billion, a share of 17.8 percent of total exports, followed by Japan with almost QR 3.612 billion and a share of 17.5 percent and India with about QR 3.5.7 billion, a share of 17 percent.

China comes in the fourth place with almost QR 3.228 billion, a share of 15.7 % and Singapore with about QR 1.010 billion, a share of 4.9 percent.

These five countries received approximately 68.02 percent of the total value of Qatari exports during the said month.

Table (2): Total exports by Major Countries of Destination- February 2021

Graph (1): Major Trade Partners According to Value of Exports – February 2021

Value of exports in billion

No Data Found

Graph (2): Exports by Major Countries of Destination – February 2021

Share (%) in total

No Data Found

Table (3): Main Groups of Commodities Exported - February 2021

Imports by Major Countries of Destination -February 2021

In February 2021, China was the leading country of origin for Qatar’s imports with about QR 1.222 billion, a share of 16.5 percent of the imports amounted to QR 7.4billion, followed by the USA with QR 0.823 billion almost, a share of 11.1 percent, and Belgium with QR 0.470 billion, a share of 6.4 percent.

India comes in the fourth place with about QR 0.450 billion, a share of 6.1 percent, followed by Italy with QR 0.412 billion, a share of 5.6 percent of the total value. 

The imports of these five countries represented 45.64 percent of the total value of imports during the mentioned month.

Table (4): Imports by Major Countries of Destination- February 2021

Graph (3): Imports by Major Trade Partners and share (%) in total - February 2021

Value of Imports in billion

No Data Found

Table (5): Main Groups of Commodities Imported – February 2021

Exports of the private sector – February 2021

  • Exports of the private sector in February amounted to QR 1.644 billion, showing a month-on-month increase of 10 percent compared to QR 1.499 billion in January, while on a year-on-year basis, they decreased by 16 percent compared to QR 1.954 billion as in February 2020.
  • This increase is attributed to the increase of 16 percent in exports through the General Model certificate.
  • Exports through Unified GCC model also recorded a considerable increase of 38 percent and exports through GSP model certificate which grew by 17 percent.
  • Exports through Unified Arab model decreased by 13 percent, and exports through GCC to Singapore also decreased by 89 percent.

Table (6) Exports of the private sector according to the type of certificate of origin
(February 2020, January & February 2021)

Graph (4) Private sector’s exports according to the type of certificate of origin (February 2020, January & February 2021)

(Value in million riyals)

No Data Found

  • Data of the private sector exports emphasized its ability and the Qatari economy in general to overcome the repercussions of the Covid-19 pandemic and returning to pre-pandemic levels.
  • In February 2021, the value of private sector’s exports increased by 190 percent compared to April 2020 which is the lowest value due to the precautionary measures to contain the spread of Covid-19, while it decreased by 16 percent compared to February 2020 in which exports registered the highest level.

Graph (5) Private sector exports from February 2020 to February 2021:

No Data Found

No Data Found

Exports of the private sector according to the type of commodities

Graph (6) Relative weights of the private sector's export commodities – February 2021

No Data Found

Data of table (7) and Graph (6), indicate that:

  • In February 2021, the private sector’s exports of petrochemical substances topped the list of exports which increased compared to exports of January with an increase of 143.9 percent, followed by paraffin which increased by 111.2 percent, steel with a 65.4 percent increase and aluminum exports which grew by 65.4 percent.
  • Lutreine exports came in the fifth place which grew by 44.9 percent and chemical substances with an 8 percent increase.
  • On the other hand, exports of other commodities such as chemical fertilizers, industrial gases and essential oils and industrial gases decreased by 99.1 percent, 41.9 percent, and 6 percent respectively.

Exports of the private sector as per major destinations –February 2021:

Table (8) Exports by major trade partners – February 2021

Graph (7) Major trade partners of the private sector’s exports – January 2021

No Data Found

In February 2021, India was at the top of the countries of destination of private sector’s exports with close to QR 315 million, a share of 19.2 percent of the total exports.

It is followed by Oman with almost QR 260 million and a share of 15.8 percent and Hong Kong with about QR 218 million, a share of 13.2 percent.

Netherlands came in fourth place with almost QR 148 million, a share of 9.0 percent and Turkey with exports amounted to about QR 145 million, a share of 8.8 percent.

The value of private sector exports to these countries represented 66 percent of the total value of exports during the same month.

Destinations of the private sector’s exports in terms of the economic blocs

Table (9) Destinations of the private sector exports as per economic blocs and groupings -February 2021

Graph (8) Exports of the private sector according to economic blocs & groupings – February 2021

No Data Found

As for economic blocs and groupings, Asian countries were at the top of economic blocs that received exports of private sector amounted to QR 841 million with a share of 51.1 percent of the total value, followed by GCC states with a share of 21.6 percent with exports of QR 356 million.

In third place came the group of EU states, with exports totaling QR 320 million representing 19.5 percent of the total value, followed by Arab countries excluding GCC states that received 60 million, a share of 3.6 percent and the USA with exports amounted to 49 million, a share of 3 percent.

The group of African Countries (excluding Arab countries) came in the sixth place with exports amounted to QR 18 million, a share of 1.1 percent, followed by Other European Countries which received exports of QR0.9mn or a share of 0.1 percent.

Back to top button