Qatar’s foreign trade surplus grew 170.6% YoY to $6.7bn in Nov

By Amirtha P S, Desk Reporter
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The foreign merchandise trade balance of Qatar that represents the difference between total exports and imports showed a surplus of almost $6.7 billion in November 2021, marking a year-on-year increase of 170.6 percent.

The Planning and Statistics Authority (PSA) issued a statement on foreign merchandise statistics of November 2021, the total exports of goods including domestic origin and re-exports from Qatar amounted to around $9.42 billion last month, showing an increase of 106.6 percent compared to November 2020, and a growth of 13.9 percent compared to October 2021.

In November, the imports of goods amounted to around $2.6 billion, showing a year-on-year increase of 29.6 percent and a growth of 9.6 percent compared to October 2021.

The year-on-year increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons reaching nearly $6.15 billion in November 2021, an increase of 135.1 percent, petroleum oils & oils from bituminous minerals (crude) gained nearly $1.13 billion, an increase of 62.4 percent.

In November 2021, China was at the top of the countries of destination of Qatar’s exports with close to $1.4 billion, a share of 14.8 percent of total exports, followed by Japan with almost $1.24 billion and a share of 13.1 percent, South Korea with about $990 million, a share of 10.4 percent.

On a year-on-year basis, the group of ‘Turbojets, Turbo propellers & Other Gas Turbines’ was at the top of the imported group of commodities. In second place was ‘Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets’, followed by ‘Motor Cars & Other Motor Vehicles for The Transport of Persons’.

In November 2021, China was the leading country of origin of Qatar’s imports with about $490 million, a share of 18.8 percent of the total imports, followed by the US with $300 million almost, a share of 11.2 percent, and Germany with $190 million, a share of 7.2 percent.

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