The National Planning Council (NPC) is pleased to publish the Press Release on "Quarterly Foreign Merchandise Trade Statistics, Q3 2024 State of Qatar", comprising quarterly data on imports, exports, re-exports, and trade balance. The bulletin presents detailed statistics of the foreign merchandise trade of Qatar by commodity and partner country. Quarter-on-Quarter (Q-o-Q) percentage changes are also provided.
Foreign Merchandise Trade Balance: In Q3 2024, Qatar recorded a merchandise trade balance surplus (difference between total exports and imports) of QR57.7billion down from QR 60.9 billion in Q3 2023.
Total Exports: In Q3 2024, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR 87.8 billion, decreased by QR 2.0 billion (2.2%) compared to Q3 2023 which amounted total exports of QR 89.8 billion. And increased by nearly QR 2.8 billion or 3.3% compared to Q2 2024.
The Q3 2024 year on year (Y-o-Y) decrease in total exports was mainly due to lower exports of Mineral fuels, lubricants and related materials by QR 5.0 billion (6.5%), and Miscellaneous Manufactured Articles by QR 0.1 billion (22.0%). On other hand increases was recorded mainly in Chemicals and Related Products n.e.s. by 1.5 billion (24.5%), Machinery and Transport Equipment by 1.2 billion (53.3%), Manufactured Goods Classified Chiefly by Material by QR 0.4 billion (17.1%), and Crude Materials, Inedible, Except Fuels. by QR 0.1 billion (24.8%).
Imports: The value of Qatar’s imports in Q3 2024 was QR 30.1 billion; increased by QR 1.2 billion (4.1%) compared to Q3 2023 imports of QR 28.9 billion. And decreased by nearly QR 0.3 billion or 1.1% compared to Q2 2024. (Table 1).
The Q3 2024 (Y-o-Y) increase in imports values is mainly due to increases in Machinery and Transport Equipment QR 0.8 billion (6.7%), Chemicals and Related Products n.e.s. by 0.4 billion (17.2%), Mineral Fuels, Lubricants and Related Materials by 0.32 billion (58.2%), Food and Live Animals QR 0.30 billion (9.8%). On the other hand, decreases were recorded mainly in Miscellaneous Manufactured Articles by QR 0.4 billion (6.7%) and Manufactured Goods Classified Chiefly by Material by QR 0.3 billion (7.7%).
Major Export/Import Partners: During Q3 2024, Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 75.9% and 39.7% respectively, followed by GCC, accounting for 11.6% and 11.3% respectively, and the European Union, with 7.7% and 26.0% respectively.
