Qatar's trade balance (the difference between total exports and imports) during the third quarter of 2019, recorded a surplus of QR38.2bn, down from QR49.9bn recorded in the same period last year.
The total value of Qatari exports (including exports of domestic goods and re-exports) during the third quarter of this year amounted to QR63.9bn, down QR15.9bn, or 20.0%, compared to the same quarter of last year, which recorded total exports amounted to QR79.8bn, according to a statement issued by the Planning and Statistics Authority.
The statement attributed the decline in total exports to a decline in exports of mineral fuels, lubricants and similar materials worth QR14.7bn, chemicals and non-mentioned products worth QR1.1bn, and machinery and transport equipment (mostly re-export) worth QR0.3bn, as exports witnessed an increase in manufactured goods, mainly classified by material, with a value of QR0.1bn, and miscellaneous manufactures with a value of QR0.1bn.
The value of Qatari imports during the third quarter of 2019 amounted to QR25.7bn, a decrease of QR4.3bn, or 14.2%, compared to the third quarter of 2018, which amounted to QR30.0bn.
According to the Planning and Statistics Authority, this decline is mainly due to a decline in imports of machinery and transport equipment worth QR1.8bn, miscellaneous manufactures worth QR1.0bn, and manufactured goods, classified mainly by material, worth QR0.9bn, unidentified chemicals and products worth QR0.1bn, food and live animals worth QR0.1bn, mineral fuels, lubricants and similar materials worth QR0.1bn, and beverages and tobacco worth QR0.1bn, while the main increases in non-edible raw materials, excluding fuel, were recorded at QR0.1bn.
According to the data, Asian countries accounted for first place for the countries of destination for Qatari exports during the third quarter of this year, as well as for countries of origin for Qatari imports during the same period, with 79.6% for exports and 33.5% for imports, followed by the European Union at 10.2% and 31.1%.
The GCC countries averaged 4.4% and 3.8% for both exports and imports respectively.