Monthly Economic Newsletter | October 2021

Monthly Economic Newsletter (October 2021)

Qatar Foreign Trade (August 2021)

According to the figures of The Planning and Statistics Authority for August 2021, the total value of foreign merchandise trade amounted to QR 35.394 bn, showing an increase of 0.2 percent compared to QR 35.340 bn in the previous month and a significant increase of 67.2 percent compared to QR 21.175 bn in August last year.

In August, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 27.296 bn, showing a sharp increase of 94.3 percent compared to QR 14.048 bn in August last year and an increase of 0.6 percent compared to QR 27.467 bn in July 2021.

The imports of goods in the said month amounted to around QR 8.098 billion, recording a growth of 2.9 percent compared to QR 7.127 bn in July, and a growth of 13.6 percent on a year-on-year basis.

Therefore, the country’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 12.277 bn, recording an increase of 177.4 percent compared to August 2020 (QR 6.921 bn), while on a month-on-month base it decreased by 2.02 percent.

Table (1) Trade balance for July & August (Value in QR billion)

Major Trade Partners According to Foreign Trade – August
In August, China was at the top of the countries of destination of Qatar’s foreign trade with about QR 6.035 billion, a share of 17.05 percent of the state’s total foreign trade.

Major Trade Partners According to Exports – August
In August, China was at the top of the countries of destination of Qatar’s exports with close to QR 4.641 billion, a share of 17 percent of total exports, followed by India with almost QR 3.710 billion and a share of 13.6 percent and Japan with about QR 3.511 billion, a share of 12.9 percent.

South Korea comes in the fourth place with almost QR 3.150 billion, a share of 11.5 percent and UAE with about QR 1.582 billion, a share of 5.8 percent.

These five countries received approximately 64.95 percent of the total value of Qatari exports during the said month.

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

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

Value of exports in billion

No Data Found

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

Share (%) in total

No Data Found

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

Imports by Major Countries of Destination – August

In August, China was the leading country of origin for Qatar’s imports with about QR 1.394 billion, a share of 17.2 percent of the imports amounted to QR 8.098 billion, followed by the USA with QR 0.928 billion almost, a share of 11.5 percent, and India with QR 0.636 billion, a share of 7.9 percent.

 

Germany comes in the fourth place with about QR 0.539 billion, a share of 6.7 percent, followed by Italy with QR 0.402 billion, a share of 5 percent of the total value.

The imports of these five countries represented 48.15 percent of the total value of imports during the mentioned month.

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

Graph (4): Imports by Major Trade Partners in total – August

Value of Imports in billion

No Data Found

Chart (3): Imports by Major Trade Partner’s share (%) in total – August 2021

Share (%) in total

No Data Found

Table (5): Main Groups of Commodities Imported – August

Exports of the private sector – August 2021

  • In August, the value of private sector exports as per certificates of origin issued by the Chamber stood at to QR 1.889 billion, showing a month-to-month increase of 10 percent compared to QR 1.714 billion in July, while on a year-to-year basis, it grew by 103 percent compared to QR 929 million as in August last year.
  • Despite the decrease in the value of exports, it remains close to its highest level at the beginning of pandemic, which amounted to QR 1.954 billion in February 2020, while it increased sharply with 230 percent compared to the lowest level in April 2020 which registered exports amounted to QR 527 million.

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

No Data Found

No Data Found

  • This growth of private sector exports in August 2021 on a month-to-month base is attributed to the increase in exports through the General Model which grew by 44 percent from QR 918.8 mn in July to QR 1.327 bn.
  • Similarly, exports through the GPS Model increased by 19 percent and exports through the Unified Model to Singapore which amounted to QR 63 mn.
  • On the other hand, exports through the Unified GCC Model amounted to QR 382.7 mn, showing a decrease of 44 percent compared to QR 680 mn in July. Also, exports though the Unified Arab Model amounted to QR 69.9 mn by 10 percent, showing a decrease of 10 percent compared to QR 78 mn.
  • While on a year-on-year base, exports of private sector increased through the Unified GCC Model, Unified GCC Model, Arab Unified Model and Singapore by 158 percent, 91 percent, 30 percent, and 736 percent respectively.
  • Exports though the GPS decreased by 72 percent.

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

(Value in million riyals)

Graph (6) Private sector’s exports according to the type of certificate during July & August 2020 and August 2021)

(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 (Aug 2020, July & Aug 2021)

(Value in million riyals)

Exports of the private sector according to the type of commodities

Data of table (7) showed that:

  • In August 2021, the private sector’s exports of Aluminum exports increased by 29 percent on month-to-month base and by 37 percent on year-to-year base.
  • Essential oils decreased by 7 on month-to-month base, while they increased by 107 percent on year-to-year base.
  • Industrial gases exports increased by 105 percent on month-to-month base and by 776 percent on year-to-year base.
  • Chemical fertilizers increased sharply by 275 percent on month-to-month base and by 442 percent on year-to-year base.
  • Lotrene exports decreased by 3 percent on -month-to-month base, while they increased by 110 percent on year-to-year base.
  • Petrochemicals decreased by 10 percent on month-to-month base, while they increased by 201 percent on year-to-year base.
  • Paraffin exports decreased by 65 percent on month-to-month base and 8 percent on year-to-year base.
  • Steel exports decreased by 34 percent on month-to-month base and by 71 percent on year-to-year base.
  • No Chemical substances exports registered during August.

Graph (7) Private sector’s exports according to the type of commodities during July & August 2020 and August 2021

(Value in million riyals)

No Data Found

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 -August 2021

Graph (8) Percentage of private-sector exports according to economic blocs & groupings – August 2021

No Data Found

As for economic blocs and groupings, Asian countries excluding GCC states were at the top of economic blocs that received exports of private sector amounted to QR 872 million with a share of 46.3 percent of the total value, followed by EU states with a share of 25.2 percent with exports of QR 474 million.

In third place came the group of GCC states, with exports totaling QR 435 million representing 23.1 percent of the total value, followed by Arab countries excluding Arab countries excluding GCC states that received 72 million, a share of 3.8 percent and African Countries Group excluding Arab countries with exports amounted to QR 30 million, or a share of 1.6 percent of the total exports.

 

Other American Countries came in the sixth place with exports amounted to 1.1 million, or a share of 0.06 percent, followed by Other European Countries Group which received exports worth of QR 1.05 million.

No exports received by USA and Oceania during the said month.

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

Table (10) Exports by major trade partners – August 2021

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

No Data Found

Graph (5) Private sector’s exports according to the type of certificate during July & June 2020 and July 2021

(Value in million riyals)

No Data Found