Qatar recorded a merchandise trade balance surplus (difference between total exports and imports) of QR 354.8 billion in 2022, up from QR 215.6 billion in 2021.

Data from the Planning and Statistics Authority’s (PSA) report issued Monday showed that the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR 476.7 billion, increased by QR 159.3 billion (50.2 percent) compared to 2021 total exports of QR 317.4 billion.

The data indicates that the increase in total exports during 2022 compared to 2021 was mainly due to an increase in exports of Mineral fuels, lubricants, and related materials by QR 148.2 billion (55.3 percent), Chemicals and related products by QR 7.5 billion (25.7 percent), Manufactured goods classified chiefly by material by QR 2.4 billion (28.9 percent), Crude Materials, Inedible, Except Fuels by QR 1.2 billion (52.8 percent), Miscellaneous Manufactured Articles by QR 0.9 billion (85.2 percent). On the other hand, decreases were recorded mainly in Machinery and Transport Equipment by QR 1.0 billion (11.3 percent).

Regarding the value of Qatar’s imports in 2022 was QR 121.9 billion; which increased by QR 20.0 billion (19.6 percent) compared to 2021 imports of QR 101.9 billion.

The main reason for the increase in total imports during the year 2022 compared to the previous year 2021 is due to increases in Miscellaneous manufactured articles by QR 9.0 billion (50.2 percent), Machinery and transport equipment by QR 3.4 billion (8.6 percent), Food and Live Animals by 3.3 billion (31.1 percent), Chemicals and Related Products by QR 1.3 billion (12.7 percent), Manufactured goods classified chiefly by material by QR 1.3 billion (8.2 percent), Mineral Fuels, Lubricants and Related Materials by QR 1.1 billion (102.4 percent), and Crude materials, and inedible, except fuels, by QR 0.5 billion (11.8 percent).

As for the Major Export/Import Partners, during 2022, Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 66.2 percent and 39.5 percent respectively, followed by the European Union, accounting for 22.7 percent and 27.1 percent respectively, and GCC, with 6.8 percent and 5.4 percent respectively.

Source: Qatar News Agency