The National Statistics Center (NSC) is pleased to publish the Press Release on "Quarterly Foreign Merchandise Trade Statistics, Q1 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 Q1 2024, Qatar recorded a merchandise trade balance surplus (difference between total exports and imports) of QR53.2 billion down from QR 68.4 billion in Q1 2023.
Total Exports: In Q1 2024, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR 87.6 billion, decreased by QR 8.3 billion (8.6%) compared to Q1 2023 which amounted total exports of QR 95.9 billion. And increased by nearly QR 2.8 billion or 3.3% compared to Q4 2023.
The Q1 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 9.1 billion (10.9%), Crude Materials, Inedible, Except Fuels. by QR 0.2 billion (44.9%), Chemicals and Related Products n.e.s. by 0.1 billion (2.1%). On other hand increases was recorded mainly in Machinery and Transport Equipment by 0.6 billion (30.5%), and Miscellaneous Manufactured Articles by 0.5 billion (81.4%).
Imports: The value of Qatar’s imports in Q1 2024 was QR 34.4 billion; increased by QR 7.0 billion (25.4%) compared to Q1 2023 imports of QR 27.4 billion. And increased by nearly QR 4.1 billion or 13.4% compared to Q4 2023.
The Q1 2024 (Y-o-Y) increase in imports values is mainly due to increases in Mineral Fuels, Lubricants and Related Materials by 5.0 billion (1392.7%), Machinery and Transport Equipment QR 1.3 billion (12.2%), Food and Live Animals by QR 0.5 billion (15.8%), Miscellaneous Manufactured Articles by QR 0.2 billion (3.4%). On other hand decreases was recorded mainly in Manufactured Goods Classified Chiefly By Material by QR 0.15 billion (3.6%) and Crude Materials, Inedible, Except Fuels by 0.13 billion (11.0%).
Major Export/Import Partners: During Q1 2024, Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 81.0% and 39.3% respectively, followed by GCC, accounting for 8.9% and 12.9% respectively, and the European Union, with 6.7% and 26.8% respectively.
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