Doha: Qatar recorded a merchandise trade balance surplus (difference between total exports and imports) of QR107.3bn in the third quarter (Q3) of 2022, an increase of 85.64 percent from QR57.8bn during the corresponding period in the previous year (Q3 2021), official data released by the Planning and Statistics Authority (PSA) showed.
The PSA yesterday released the ‘Quarterly Foreign Merchandise Trade Statistics, Q3 2022 State of Qatar’, comprising quarterly data on imports, exports, re-exports, and trade balance.
During Q3 2022, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR138.8bn, which has increased by QR56.2bn (68 percent) compared to Q3 2021 which amounted total exports of QR82.6bn. And increased by nearly QR12.8bn or 10.2 percent compared to Q2 2022.
The Q3 2022 year on year (Y-o-Y) increase in total exports was mainly due to higher exports of Mineral fuels, lubricants and related materials by QR54.2bn (77.1 percent), Chemicals and Related Products n.e.s. by QR1bn (13.2 percent), Manufactured Goods Classified Chiefly By Material by QR0.6bn (36.6 percent), Miscellaneous Manufactured Articles by QR0.4bn (184.2 percent). On other hand decreases was recorded mainly in Machinery and Transport Equipment by QR0.03bn (1.6 percent), Food and Live Animals by QR0.002bn (7.7 percent).
The value of Qatar’s imports in Q3 2022 was QR31.5bn; increased by QR6.7bn (27.1 percent) compared to Q3 2021 imports of QR24.8bn. And increased by nearly QR4.1bn or 15 percent compared to Q2 2022.
The Q3 2022 (Y-o-Y) increase in imports values is mainly due to increases in Miscellaneous Manufactured Articles by QR1.9bn (44.8 percent), Machinery and Transport Equipment by QR1.6bn (16.2 percent), Food and Live Animals by QR1.3bn (56 percent), Manufactured Goods Classified Chiefly by Material by QR0.8bn (21.3 percent), Chemicals and Related Products n.e.s. by QR0.7bn (26.9 percent), Mineral Fuels, Lubricants and Related Materials by QR0.3bn (142.7 percent). On other hand no significant decrease was recorded in Q3 2022.
During Q3 2022, Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 60.5 percent and 40.1 percent respectively, followed by the European Union, accounting for 28.1 percent and 26.4 percent respectively, and GCC, with 8.3 percent and 6.2 percent respectively.
