Qatar’s trade surplus rose to QAR 15.88 billion in December of 2018 from QAR 14.90 billion in the corresponding month of the previous year. Exports fell 1.9% from a year earlier to QAR 25.43 billion, dragged down by lower sales of petroleum oils & oils from bituminous – crude (-47.6%) and petroleum oils & oils from bituminous – not crude (-2.4%). Main export partners were South Korea (19.6% of total exports); Japan (17.2%) and China (14.4%). Meanwhile, imports dropped at a faster 13.3% to QAR 9.54 billion, due to lower purchases of motor cars & other motor vehicles for the transport of persons (-2.6%). On the other hand, imports rose for parts of balloons; parts of aircraft & spacecraft (+21.8%) and turbojets, turbo propellers & other gas turbines & parts thereof (+43%). The highest share of imports came from the US (17.7% of total imports); China (11.8%); the UK (8.5%) and Germany (6.9%). Balance of Trade in Qatar averaged 24711.50 QAR Million from 2004 until 2018, reaching an all time high of 98671 QAR Million in August of 2012 and a record low of 4795 QAR Million in April of 2016.
Balance of Trade in Qatar is expected to be 21445.00 QAR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Qatar to stand at 7900.00 in 12 months time. In the long-term, the Qatar Balance of Trade is projected to trend around 21175.00 QAR Million in 2020, according to our econometric models.