The trade surplus in Qatar decreased to QAR 12.5 billion in November of 2019 from QAR 15.9 billion in the corresponding month of the previous year, as exports declined 13 percent to QAR 22.2 billion, dragged down by lower sales of petroleum gases and other gaseous hydrocarbons (-8.8 percent); crude petroleum oils & oils obtained from bituminous minerals (-2.7 percent) and not crude petroleum oils & oils obtained from bituminous minerals (-47 percent). Among major trading partners, exports fell to South Korea (-29.2 percent), India (-25.2 percent) and Singapore (-15.6 percent) while those rose to Japan (1.6 percent). Imports rose 1.7 percent to QAR 9.7 billion, due to higher purchases of motor cars & other motor vehicles (9.3 percent); parts of balloons, aircraft and spacecraft (28.4 percent) and Electrical apparatus for line telephony/telegraphy and telephone sets (40.4 percent). Imports increased from the US (1.1 percent) and the UK (2.0 percent). Balance of Trade in Qatar averaged 23624.87 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 14200.00 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 16800.00 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.