The trade surplus in Qatar decreased to QAR 13.56 billion in May of 2019 from QAR 14.88 billion in the corresponding month of the previous year, as exports declined 8.4 percent to QAR 22.75 billion, dragged down by lower sales of petroleum gases and other gaseous hydrocarbons (-6.2 percent); not crude petroleum oils & oils obtained from bituminous minerals (-29.5 percent) while increases were recorded in shipments of crude petroleum oils & oils obtained from bituminous minerals (1.1 percent) .Among major trading partners, exports fell to South Korea (-13.8 percent), India (-19.0 percent) and China (-36.1 percent), but rose to Japan (6.5 percent). Imports fell at a softer 7.6 percent to QAR 9.95 billion, due to lower purchases of motor cars & other motor vehicles (-27.6 percent) and parts of balloons; parts of aircraft & spacecraft (-10.5 percent). Imports dropped from the US (-27.9 percent) and China (-16.1 percent) but increased from the UK (116.1 percent). Balance of Trade in Qatar averaged 24219.49 QAR Million from 2004 until 2019, reaching an all time high of 98671 QAR Million in August of 2012 and a record low of 4795 QAR Million in April of 2016.
Balance of Trade in Qatar is expected to be 0.00 QAR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Qatar to stand at 14550.00 in 12 months time. In the long-term, the Qatar Balance of Trade is projected to trend around 16450.00 QAR Million in 2020, according to our econometric models.