Data from the Planning and Statistics Authority showed that the trade balance of the State of Qatar (the difference between total exports and imports) achieved during the fourth quarter of last year a surplus of 24.7 billion riyals compared to a surplus of 38.4 billion riyals for the same quarter of 2019.
The total value of Qatari exports (including exports of local goods and re-exports) during the fourth quarter of last year amounted to 49.1 billion riyals, a decrease of 16.7 billion riyals, or 25.4 percent compared to the same period of 2019, which recorded a total exports of 65.7 One billion riyals, but the value increased by 8.0 billion riyals, or 19.4 percent, compared to the third quarter of 2020.
The data indicate that the decline in total exports during the fourth quarter of 2020 (compared to the fourth quarter of 2019) is due to a decrease in exports of mineral fuels, lubricants and similar materials by 16.8 billion riyals, or 29.7 percent, and non-edible raw materials excluding fuel by 0.3 One billion riyals, or 90.5 percent, and manufactured goods, mainly classified by material, valued at 0.8 billion riyals, or about 38.3 percent.
On the other hand, exports witnessed a rise in miscellaneous manufactures by 0.8 billion riyals, or 174.1 percent, chemical materials and their non-mentioned products by 0.5 billion riyals, or 10.2 percent, and food and live animals by 3 million riyals, or 16.7 percent.
With regard to Qatari imports, the data indicate that their value during the fourth quarter of last year amounted to 24.4 billion riyals, a decrease of 3 billion riyals, or 10.9 percent, compared to the same period of the year 2019, which recorded a value of 27.3 billion riyals, but imports increased by about 2.9 billion. SAR, or 13.4%, compared to the third quarter of 2020.
According to the data, the decrease in the value of imports compared to the same period of the previous year is due to a decrease in imports of mineral fuels, lubricants and similar materials by 0.1 billion riyals, or 45.9 percent, and non-edible raw materials excluding fuel by 0.7 billion riyals or 53.0 percent, and manufactures Miscellaneous items with a value of 1.3 billion riyals, or 24.0 percent, and machinery and transport equipment worth 0.8 billion riyals, or 7.6 percent.
Imports witnessed a rise in manufactured goods, mainly classified by material, by 0.2 billion riyals, or 4.3 percent, and animal and vegetable oils, fats and waxes by 0.01 billion riyals, or 19.0 percent.
Asian countries ranked first for destination countries for Qatari exports during the fourth quarter of 2020, as well as for countries of origin for Qatari imports during the same year, as they accounted for 80.7 percent and 41.7 percent, respectively, followed by the European Union at a rate of 7.6 percent and 29.9 percent, respectively. Then the Gulf Cooperation Council countries at 5.8 percent and 3.3 percent.