Monthly Economic Newsletter | August 2021
Qatar Foreign Trade (June 2021)
Trade Balance
According to the figures of The Planning and Statistics Authority for June 2021, the total value of foreign merchandise trade amounted to QR 33.7 billion, showing an increase of 1.5 percent compared to QR 33.2 billion in May 2021.
In June 2021, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 25.4 billion, showing an increase of 1.8 percent compared to QR 24.9 billion in May.
The imports of goods in the said month amounted to around QR 8.3 billion.
Therefore, the country’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 17 billion almost, recording a decrease of 2.7 percent compared to QR 16.6 billion in May.
Table (1) Trade balance for May & June (Value in QR billion)
Major Trade Partners According to Foreign Trade – June 2021
In June 2021, China was at the top of the countries of destination of Qatar’s foreign trade with about QR 4.6 billion, a share of 13.9 percent of the state’s total foreign trade.
Major Trade Partners According to Exports – June 2021
In June 2021, Japan was at the top of the countries of destination of Qatar’s exports with close to QR 3.849 billion, a share of 15.2 percent of total exports, followed by China with almost QR 3.326 billion and a share of 13.1 percent and India with about QR 3.252 billion, a share of 12.8 percent.
South Korea comes in the fourth place with almost QR 2.743 billion, a share of 10.8 percent and Singapore with about QR 2.376 billion, a share of 9.4 percent.
These five countries received approximately 61.7 percent of the total value of Qatari exports during the said month.
Table (2): Total exports by Major Countries of Destination- June 2021
Graph (1): Major Trade Partners According to Value of Exports – June 2021
Value of exports in billion
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Graph (2): Exports by Major Countries of Destination – June 2021
Share (%) in total
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Table (3): Main Groups of Commodities Exported - June 2021
Imports by Major Countries of Destination -June 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 (3A): Imports by Major Trade Partners in total – June 2021
Value of Imports in billion
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Graph (3B): Imports by Major Trade Partners share (%) in total – June 2021
Share (%) in total
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Table (5): Main Groups of Commodities Imported – June 2021
Exports of the private sector – June 2021
- Exports of the private sector in June amounted to QR 2.534 billion, showing a month-on-month decrease of 1.4 percent compared to QR 2.570 billion in May, while on a year-on-year basis, they increased by 160 percent compared to QR 973 million as in June 2020.
- This increase demonstrated that the private sector has reached the recovery phase and its exports have bypassed their levels at the beginning of the pandemic.
- In May and June 2021, private sector exports grew by 31 and 29 percent compared to February 2020, which is the highest month during this period, while they increased by 343 percent compared to April which is the lowest month of the past year.
Table (6) Exports of the private sector according to the type of certificate of origin (June 2020, May & June 2021)
Graph (4) Private sector’s exports according to the type of certificate of origin (February 2020, January & February 2021)
(Value in million riyals)
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- 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 (4.1) Private sector’s exports during June 2020 & 2021
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Graph (6) Relative weights of the private sector's export commodities – February 2021
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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
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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
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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.
