DOHA : Qatar’s economy has gained momentum in exports with easing of COVID-19 related restrictions. Asian countries have occupied a dominating position in Qatar’s exports during November 2021. The top four export destinations for Qatari exports were from Asia, according to the Planning and Statistics Authority (PSA) data.
China emerged as a top destination for Qatar’s exports in November 2021. Qatar’s exports to China were close to QR5.08bn, a share of 14.8 percent of total exports compared to QR3.41bn in October 2021 representing a share of 11.4 percent.
Japan came second after China in terms of exports from Qatar. Exports to Japan during the month of November 2021 stood at QR4.48bn, a share of 13.1 percent against QR3.61bn in last month for the same period. South Korea which has taken the third ranking of top destinations for Qatari exports witnessed around QR3.55bn worth of exports, representing a share of 10.4 percent. India secured the fourth place in the list having exports worth QR3.5bn, with share of 10.3 percent.
While United Kingdom export figures amounted to QR2.54bn, a share of 7.4 percent, the report noted.
During November 2021, Qatar’s exports to Asia accounted for 48.5 percent of the total exports. According to the official data, the leading country of origin of Qatar’s imports in November 2021 was also China recording amount of QR1.83bn accounting for18.8 percent, followed by the US, Germany, India and Switzerland accounting for 11.2 percent, 7.2 percent, 6.6 percent and 6.4 percent respectively.
In November of this year, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR34.3bn, showing an increase of 106.6 percent compared to November 2020, and an increase of 13.9 percent compared to October 2021.
The year on year increase that is November 2021 when compared to November 2020 in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 22.4bn (approximately) in November 2021, that is an increase of 135.1 percent, petroleum oils & oils from bituminous minerals (crude) reaching QR4.1bn nearly, increase by 62.4 percent, and increase in the petroleum oils & oils from bituminous minerals (not crude) reaching 2.9bn, 107.8 percent.
Qatar’s trade surplus has been rising consistently over the past few months and the country’s economy has been witnessing recovery from impacts of COVID-19 pandemic as seen by the pace of economic recovery.
In the third quarter of 2021, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR82.6bn, increased by QR41.5bn (101 percent) compared to the third quarter of 2020 which amounted total exports of QR41.1bn and increased by nearly QR11.7bn or 16.5 percent compared to the second quarter of 2021.