Qatar's trade surplus amounted to QR7.59bn in March this year as the country's total exports were almost double the imports, according to the Planning and Statistics Authority (PSA).

The country's merchandise trade surplus, however, witnessed a 42.4% and 43.7% year-on-year and month-on-month decline respectively; reflecting the early travails of Covid-19 pandemic, whose pecuniary costs in terms of disruptions to world economy and trade are yet to be ascertained in total.

The Asian region accounted for about 64% of Qatar's exports, while the top imports sources were diversified across geographies.

In March 2020, total exports of goods (including exports of goods of domestic origin and re-exports) were QR15.91bn, showing a 30.1% and 25% decrease on yearly and monthly basis respectively.

The exports of petroleum gases and other gaseous hydrocarbons shrank 22.3% year-on-year to QR10.51bn, crude by 52.1% to QR1.84bn, non-crude by 48.5% to QR0.73bn and other commodities by 26.2% to QR1.92bn at the end of March 2020.

On a monthly basis, the exports of petroleum gases and other gaseous hydrocarbons tanked 24.1%, crude by 41.7%, non-crude by 31.2% and other commodities by 15.5%.

Petroleum gases constituted 70% of the exports of domestic products compared to 63% a year ago period, crude 12% (18%), non-crude 5% (7%) and other commodities 13% (12%).

In March this year, Qatar's shipments to Japan amounted to QR2.46bn, accounting for 16% of the country's total exports; South Korea QR2.38bn (15%); India QR2.21bn (14%); China QR2.01bn (13%) and Singapore QR0.95bn (6%).

On a yearly basis, Qatar's exports to Singapore saw a 52.26% fall, Japan by 45.93%, South Korea by 25.16%, India by 15.97% and China by 3.83%.

On a monthly basis, Qatar's exports to Singapore fell 57.01%, Japan by 36.1%, India by 33.83%, South Korea by 15.6% and China 12.23% in the review period.

The country's re-exports amounted to QR0.92bn in March 2020, which tanked 34.3% year-on-year but showed a 2.8% growth month-on-month.

Qatar's total imports (valued at cost insurance and freight) amounted to QR8.33bn, which showed a 13.2% decrease on a yearly basis; whereas it grew 7.7% on monthly basis in March this year.

In March 2020, imports from the US stood at QR1.43bn, which accounted for 17% of Doha's total, China QR0.79bn (10%), Germany QR0.68bn (8%), the UK QR0.6bn (7%) and India QR0.47bn (6%).

On a yearly basis, Qatar's imports from the US shrank 34.88%, China by 15.6% and India by 10.08%; whereas those from the UK and Germany rose 21.91% and 11.35% respectively in March 2020.

On a monthly basis, the country's imports from Germany and the US gained 65.93% and 33.4% respectively; while those China were down 10.13%, India by 9.38% and the UK by 0.99% in March 2020.

In March 2020, imports of turbojets of thrust exceeding 25 knots were valued at QR0.55bn; parts of aeroplanes and helicopters at QR0.42bn; motor cars and other motor vehicles for transport at QR0.32bn; and other non-specified commodities at QR7.04bn.