The trade surplus in Qatar declined to QAR 7.6 billion in March of 2020 from QAR 13.2 billion in the corresponding month of the previous year. It was the smallest trade surplus since July 2016, as exports fell more than imports, amid the coronavirus pandemic. Exports decreased 30.1 percent to QAR 15.9 billion, dragged by lower sales of petroleum gases and other gaseous hydrocarbons (-22.3 percent); not crude petroleum oils & oils obtained from bituminous minerals (-48.5 percent), and crude petroleum oils & oils obtained from bituminous minerals (-52.1 percent). Among major trading partners, exports fell to China (-4.1 percent), South Korea (-25.2 percent), Japan (-45.9 percent), and India (-15.9 percent). Imports fell at a softer 13.2 percent to QAR 8.3 billion, due to lower purchases of motor cars & other motor vehicles (-9.3 percent); other groups of commodities (-19.8 percent). Imports went down from China (-15.6 percent) and India (-10.1 percent).
Balance of Trade in Qatar averaged 23370.29 QAR Million from 2004 until 2020, 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. 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 June of 2020.
Balance of Trade in Qatar is expected to be 18630.00 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 19414.00 in 12 months time. In the long-term, the Qatar Balance of Trade is projected to trend around 19493.00 QAR Million in 2021 and 19307.00 QAR Million in 2022, according to our econometric models.