The Economic Newsletter | December 2021

Qatar Foreign Trade (October 2021)

According to the figures of The Planning and Statistics Authority for October 2021, the total value of foreign merchandise trade amounted to QR 38.992 bn, showing a y-to-y increase of 65.26 percent compared to QR 23.594 bn in October 2020 and a m-to-m increase of 5.85 percent compared to QR 36.837 bn in the previous month.

In October, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 30.088 bn, showing a sharp increase of 96.38 percent compared to QR 15.321 bn in October last year and an increase of 7.28 percent compared to QR 28.047 bn in September 2021.

 

The imports of goods in the said month amounted to around QR 8.904 billion, showing an increase of 7.63 percent on a year-to-year basis compared to QR 8.273 bn in October 2020, and an increase of 1.30 percent compared to QR 8.790 bn in September 2021.

 

Therefore, the country’s foreign merchandise trade balance, which represents the difference between total exports and imports, amounted to QR 21.184 bn, showing an increase of 200 percent compared to QR 7.048 bn in October 2020, while on a month-to-month base it increased by 10 percent.

Table (1) Trade balance for October 2021 compared to September 2021 and October 2020 (Value in QR billion)

Table (1) Trade balance for October 2021 compared to September 2021 and October 2020 (Value in QR billion)

Graph (1): Foreign trade in October on m-to-m & y-to-y basis

(Value in QR billion)

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Major Trade Partners According to Foreign Trade – October
In October, China was at the top of the countries of destination of Qatar’s foreign trade with about QR 4.964 billion, a share of 12.7 percent of the state’s total foreign trade.

Major Trade Partners According to Exports – October
In October, India was at the top of the countries of destination of Qatar’s exports with close to QR 4.086 billion, a share of 13.6 percent of total exports, followed by South Korea with almost QR 3.968 billion and a share of 12.8 percent Japan with about QR 3.619 billion, a share of 12 percent.

China comes in the fourth place with almost QR 3.417 billion, a share of 11.4 percent and UK with about QR 2.495 billion, a share of 8.3 percent.

These five countries received approximately 58 percent of the total value of Qatari exports during the said month.

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

Graph (2): Major Trade Partners According to Value of Exports – October

Value of exports in billion

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Graph (3): Exports by Major Countries of Destination – September

Share (%) in total

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Table (3): Main Groups of Commodities Exported - October

Imports by Major Countries of Destination – October

In October, China was the leading country of origin for Qatar’s imports with about QR 1.547 billion, a share of 17.4 percent of the imports amounted to QR 8.904 billion, followed by the USA with QR 978 million almost, a share of 11 percent, and UK with QR 720 million, a share of 8.1 percent.

India comes in the fourth place with about QR 548 million, a share of 6.2 percent, followed by Italy with QR 507 billion, a share of 5.7 percent of the total value. 

The imports of these five countries represented 48.3 percent of the total value of imports during the mentioned month.

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

Graph (4): Imports by Major Trade Partners and share (%) in total – October

Value of Imports in billion

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Graph (4A): Imports by Major Trade Partners and share (%) in total – October

Share (%) in total

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Table (5): Main Groups of Commodities Imported-October

Exports of the private sector – October

In October, the private sector exports amounted to QR 2.3 billion, showing a year-to-year increase of 85 percent compared to QR 1.24 billion in the same month last year. While on a month-to-month basis, they decreased by 53.9 percent compared to QR 4.982 billion in the previous month.

It is worth mentioning here that the increase of private sector exports registered in last September, especially through the GCC Model which rose by 774 percent compared to the previous month, is the main reason of the decrease registered in October’s exports.

However, the value of private sector exports in October indicates that the national economy continues to recover from the impacts of the Covid-19 pandemic.

The private sector exports in October increased by 17.9 percent compared to QR 1.954 billion in February 2020, which represented the highest value of exports from the beginning of the pandemic, and an increase of 302 percent compared to QR 572 million in April 2020, which witnessed the lowest value of exports.

Graph (5) Private sector’s exports during (Oct. 2020 & 2021) and February 2020:

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  • In October, the private sector exports through the General Model increased by 39.5 percent on a monthly basis and by 98.5 percent on a year-to-year basis.
  • Exports through the GCC Model decreased by 85.7 percent on a m-to-m basis, while they increased by 413 percent on y-to-y basis.
  • Similarly, exports though the Unified Arab Model decreased by 65.7 percent on a m-to-m basis, and an increase of 58.4 percent on a y-to-y basis.
  • Exports through the Unified Model to Singapore decreased on a m-to-m basis by 44.6, while they increased by 200 percent on a y-to-y basis.
  • Exports through the GSP decreased by 18.1 percent on a m-to-m basis, while they increased by 33.5 percent on a y-to-y basis.

Table (6) Exports of the private sector according to the type of certificate of origin (Oct. 2020, Sept. & Oct. 2021):

(Value in million riyals)

Graph (6) Private sector’s exports according to the type of certificate (Oct. & Sept. 2021 and Oct. 2020):

(Value in million riyals)

No Data Found

Exports of the private sector according to the type of commodities

Table (7) Exports of private sector according to commodities (Oct. 2020, Sept. & Oct. 2021)

(Value in million riyals)

Graph (7): Private sector exports according to the most important commodities during October, September 2021 and October 2020

(Value in million riyals)

No Data Found

  • In October 2021, the private sector’s exports of Steel increased sharply by 1946 percent on a month-to-month basis and by 1746 percent on a year-to-year basis.
  • Industrial Gases exports sharply increased by 659 percent on a month-to-month basis and by 193 percent on a year-to-year basis.
  • Aluminum exports increased by 140 on a month-to-month basis, and by 106 percent on a year-to-year basis.
  • Paraffin exports grew by 46.4 percent on a month-to-month basis and 811.2 percent on a year-to-year basis.
  • Chemical substances exports increased by 39.2 percent on a month-to-month basis and by 141 percent on a year-to-year basis.
  • Essential and Industrial Oils exports decreased sharply by 82.7 percent on a month-to-month basis, while they increased by 175.2 on a year-to-year basis.
  • Lotrene exports decreased by 40 percent on a month-to-month basis, while they increased by 25.3 percent on a year-to-year basis.
  • Petrochemicals decreased by 22 percent on a month-to-month basis, and by 91.4 percent on a year-to-year basis.
  • Chemical fertilizers exports decreased by 3.5 percent on a month-to-month basis, while they increased by 240.1 percent on a year-to-year basis.

Destinations of private-sector exports in terms of the economic blocs

Table (8) Destinations of the private sector exports as per economic blocs and groupings -October 2021

Graph (8) Percentage of private-sector exports according to economic blocs & groupings – October 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 1.245 billion with a share of 54.2 percent of the total value, followed by GCC states with a share of 25.6 percent with exports of QR 588.84 million.

In third place came the group of EU states, with exports totaling QR 340.46 million representing 14.81 percent of the total value, followed by Arab countries excluding Arab countries excluding GCC states that received 90.81 million, a share of 4 percent and African Countries Group excluding Arab countries with exports amounted to QR 17.26 million, or a share of 0.75 percent of the total exports.

USA came in the sixth place with exports amounted to 9.73 million, or a share of 0.04 percent, followed by Other American Countries Group which received exports worth of QR 3.76 million, or a share of 0.16 percent, Other European Countries which received exports worth of QR 1.27 million, or a share of 0.06 percent and Oceania which received exports worth of QR 0.98 million, or a share of 0. 04 percent.

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

Table (9) Exports by major trade partners – October 2021

Graph (8) Major trade partners of the private sector’s exports – October 2021

No Data Found