Doha: Qatar's foreign trade witnessed significant growth, marked by an expansion in the number of trade partners and diversification in import and export activities. Data indicates that the country's foreign trade volume increased by 1.3% last year, reaching QAR 476.281 billion, compared to QAR 470.224 billion in 2023.

According to Qatar News Agency, the total value of Qatari exports-including domestic goods and re-exports-stood at QAR 345.961 billion in 2024, compared to QAR 355.815 billion the previous year. Imports reached QAR 130.319 billion, up from QAR 114.409 billion in 2023. Consequently, Qatar's trade surplus (the difference between total exports and imports) for the year stood at QAR 215.642 billion.

In terms of trade balance by economic regions or trade partners, Asia ranked first among Qatar's trading partners, with trade volume totaling QAR 319.432 billion in 2024. Exports to Asia reached QAR 267.077 billion, accounting for 77.2% of Qatar's total exports, while imports from Asia were QAR 52.355 billion, or 40.2% of total imports. The trade surplus with Asia stood at QAR 214.722 billion.

According to National Planning Council data obtained by Qatar News Agency (QNA), the European Union ranked second among Qatar's main trading partners, with trade volume amounting to QAR 60.892 billion. Exports to the EU totaled QAR 27.914 billion (8.1% of total exports), while imports reached QAR 32.978 billion, representing 25.3% of total imports, resulting in a trade deficit of QAR 5.064 billion.

The Gulf Cooperation Council (GCC) countries ranked third in terms of economic regions for Qatar. Total trade volume with the GCC stood at QAR 52.080 billion, with exports amounting to QAR 37.183 billion (10.7% of total exports), and imports reaching QAR 14.897 billion (11.4% of total imports). The trade surplus with GCC countries amounted to QAR 22.287 billion.

The United States of America ranked fourth, with a total trade volume of QAR 22.328 billion. Exports to the U.S. were QAR 5.475 billion (1.6% of total exports), while imports stood at QAR 16.853 billion (12.9% of total imports), resulting in a trade deficit of QAR 11.377 billion.

Other European countries ranked fifth with a trade volume of QAR 5.883 billion, followed by other countries from the Americas in sixth place with QAR 4.437 billion. Other Arab countries ranked seventh with QAR 4.176 billion, while Oceania came in eighth with QAR 3.150 billion. Africa (excluding Arab countries) recorded a trade volume of QAR 2.442 billion, and other unspecified countries ranked tenth with a trade volume of QAR 1.460 billion.

Regarding the main destination countries for Qatari exports, China ranked first with exports totaling QAR 68.889 billion, followed by South Korea with QAR 46.680 billion, India with QAR 40.593 billion, Japan with QAR 24.459 billion, Singapore with QAR 24.271 billion, and other countries accounting for QAR 141.069 billion.

As for the main countries of origin for Qatari imports, China led with imports valued at QAR 19.668 billion, followed by the US with QAR 16.853 billion, Italy with QAR 7.401 billion, India with QAR 7.078 billion, Japan with QAR 6.715 billion, and other countries accounting for QAR 72.605 billion.

On the top of the list of exports came mineral fuels, lubricants, and similar materials at QAR 289.776 billion in 2024, according to the Standard International Trade Classification (SITC). This was followed by chemicals and chemical products valued at QAR 27.625 billion, and machinery and transport equipment worth QAR 12.535 billion.

Machinery and transport equipment topped Qatar's imports list with a value of QAR 53.155 billion in 2024, up from QAR 45.625 billion in 2023. This was followed by miscellaneous manufactured articles valued at QAR 19.933 billion, while imports of food and live animals amounted to QAR 13.688 billion.