The trade balance of the State of Qatar achieved a surplus of 159.2 billion riyals during 2019, as data from the Planning and Statistics Authority revealed that the trade balance of the State of Qatar (the difference between total exports and imports) recorded a surplus of 38.4 billion riyals in comparison to the trade balance surplus for the third quarter from the year 2019, which amounted to 38.01 billion riyals.
Qatar has strengthened its strategic relations with major and friendly countries as well as boosting its economy and increasing the rate of self-sufficiency, and it has been able to raise its export volume strongly abroad, as well as the country’s export destinations to most of the world.
The trade surplus figures indicate that Qatar aims to diversify the economy and increase the contribution of the non-oil sector to the domestic product. The volume of Qatari exports to the countries of the world has increased, as Asian countries were at the forefront of the world in terms of exports and imports to and from Qatar, while the European Union countries came In second place.
The exports and imports of the State of Qatar have increased steadily in previous years thanks to the high economic growth and implementation of oil and gas projects and infrastructure. Exports have achieved exceptional growth in the past years, and imports have also increased significantly to meet the requirements of development projects.
Source (Al-Raya Al-Qatari Newspaper, Edited)
