The trade surplus in Qatar sharply dropped to QAR 6.4 billion in September 2020 from QAR 12.8 billion in the same period last year, amid the coronavirus pandemic. Exports plunged 33.7 percent led by lower sales of petroleum gases and other gaseous hydrocarbons (-33.5 pct), crude petroleum oils & oils obtained from bituminous minerals etc. (-42.0 pct) and non crude petroleum oils & oils obtained from bituminous minerals etc. (-54.7 pct). Among major key trade partners, exports dropped to China (-17.9 pct), India (-7.1 pct), Japan (-50.8 pct), South Korea (-51.2 pct) and Singapore (-39.9 pct). Meantime, imports decreased at a softer 6.4 percent as purchases fell for parts of aero planes (-26.3 pct), motor cars (-29.1 percent) and turbojets, turbo propellers & other gas turbines; parts thereof (-62.3 pct). Imports were down from the US (-36.4 pct), India (-6.2 pct) and Germany (-18.6 pct), while surged to China (60.7 pct) and the UK (10.5 pct).
Balance of Trade in Qatar averaged 22792.91 QAR Million from 2004 until 2020, reaching an all time high of 98671 QAR Million in August of 2012 and a record low of 4346 QAR Million in April of 2020. This page provides - Qatar Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Qatar Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Balance of Trade in Qatar is expected to be 7500.00 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 11700.00 in 12 months time. In the long-term, the Qatar Balance of Trade is projected to trend around 11800.00 QAR Million in 2021 and 12250.00 QAR Million in 2022, according to our econometric models.