RIYADH: According to fresh data, Qatar’s foreign merchandise trade balance surplus in the third quarter of 2024 was 57.7 billion Qatari riyals ($15.8 billion), which was a 5% decrease from the same period the previous year. The difference between total imports and exports is the merchandise trade balance surplus.
The Planning and Statistics Authority of the Gulf nation said that the overall value of the country’s exports, including both domestic and re-exported items, was 87.8 billion riyals in the third quarter of 2024. When compared to the same time period in 2023, this indicates a 2.2 percent decrease. In the same quarter, Qatar’s imports were 30.1 billion riyals, a 4.1 percent increase over the same period in 2023.
According to a Standard Chartered estimate published in August, the numbers align with the country’s trajectory to treble its economy by 2031 and return government income to levels seen prior to the 2014 oil price shock. The data also shows that Qatar’s non-oil economy, which accounts for two-thirds of the nation’s GDP, has been steadily expanding.
The data also revealed that the decline in exports is mostly due to a 5 billion riyal (6.5 percent) decrease in exports of mineral fuels, lubricants, and associated materials, and a 100 million riyal (22 percent) decrease in exports of miscellaneous manufactured goods.
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