The trade surplus in Qatar narrowed to QAR 12.12 billion in August of 2019 from QAR 17.52 billion in the corresponding month of the previous year. This was the smallest trade surplus since October 2017, as exports plunges while imports rose. Exports tumbled 19.7% to QAR 21.21 billion, due to lower sales of petroleum gases and other gaseous hydrocarbons (-22.3%); crude petroleum oils & oils obtained from bituminous minerals (-20.7%) and not crude petroleum oils & oils obtained from bituminous minerals (-7.0%). Among major trading partners, exports declined to South Korea (-10.4%), Japan (-4.1%), China (-11.6%), India (-46.3%) and Singapore (-53.1% ). Imports rose 2.3% to QAR 9.10 billion, due to higher purchases of parts of balloons Etc, parts of aircraft, spacecraft Etc (42.3%); motor cars & other vehicles (22.3%); electrical apparatus for line telephone/telegraphy, telephone sets, parts thereof (18%). Imports increased from the US (8.4%), China (2.7%), and the UK (66.0%). Balance of Trade in Qatar averaged 24029.54 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 0.00 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.