The trade surplus in Qatar decreased to QAR 12.75 billion in March of 2019 from QAR 13.29 billion in the corresponding month of the previous year. It was the smallest trade surplus since November 2017, as exports declined 6.3% to QAR 22.35 billion, dragged down by lower sales of petroleum gases and other gaseous hydrocarbons (-8.9%) and not crude petroleum oils & oils obtained from bituminous minerals (-11.6%). In contrast, shipments of crude petroleum oils & oils obtained from bituminous minerals increased 0.7%. Among major trading partners, exports fell to South Korea (-28.1%), India (-5.7%) and China (-18.1%), but increased to Japan (14.6%). Meantime, imports dropped 9.0% to QAR 9.49 billion, due to lower purchases of motor cars & other motor vehicles (-33.2%); parts of balloons; parts of aircraft & spacecraft (-9.5%) and turbojets, turbo propellers & other gas turbines (-38.1%). Imports went down from India (-5.7%) and China (-18.1%), but increased from the US (8.9%). Balance of Trade in Qatar averaged 24417.27 QAR Million from 2004 until 2019, 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 18300.00 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 14550.00 in 12 months time. In the long-term, the Qatar Balance of Trade is projected to trend around 16450.00 QAR Million in 2020, according to our econometric models.