Doha, Qatar—Qatar has recorded a trade balance surplus in the third quarter of 2022 of $29.47 billion up from $15.87 billion in Q3 of 2021, an increase of 85.6 percent.
The Planning and Statistics Authority (PSA) issued the press release on “Quarterly Foreign Merchandise Trade Statistics, Q3 2022 State of Qatar”, comprising quarterly data on imports, exports, re-exports, and trade balance.
The bulletin presents detailed statistics of the foreign merchandise trade of Qatar by commodity and partner country.
In Q3 2022, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to $38 billion, increased by $15.43 billion (68.0 percent) compared to Q3 2021 which amounted total exports of $22.69 billion.
The Q3 2022 year on year (Y-o-Y) increase in total exports was mainly due to higher exports of Mineral fuels, lubricants and related materials by QR 54.2 billion (77.1 percent), Chemicals and Related Products n.e.s. by QR 1.0 billion (13.2 percent), Manufactured Goods Classified Chiefly By Material by QR 0.6 billion (36.6 percent), Miscellaneous Manufactured Articles by QR 0.4 billion (184.2 percent). On other hand decreases was recorded mainly in Machinery and Transport Equipment by QR 0.03 billion (1.6 percent), Food and Live Animals by QR 0.002 billion (7.7 percent).
During Q3 2022, Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 60.5 percent and 40.1 percent respectively, followed by the European Union, accounting for 28.1 percent and 26.4 percent respectively, and GCC, with 8.3 percent and 6.2 percent respectively.