(MENAFN- The Peninsula) Japan and South Korea accounted for over one-third of Qatar's exports while the United States of America and China accounted for about a third of Qatar's total imports last year. Japan's share in total exports from Qatar was 19 percent, while the share of the United States of America in Qatar's total import was 19 percent in 2019, according to a report by the Planning and Statistics Authority.
'The United States of America is the largest trading partner of the State of Qatar in terms of being the source of Qatari imports with 19 percent of the total, followed by China with 12 percent, then Germany, Britain, India, Turkey, and Oman with a total of 27 percent, said the report.
The share of European countries in Qatari imports was 17 percent, other Latin American countries had 13 percent share and other Asian countries share was 12 percent. Giving details about major destinations of Qatari exports, the report said, 'Japan and South Korea were the dominant export destinations in 2019, accounting for 35 percent of Qatar's total exports, followed by India and China with 24 percent, then Singapore with eight percent, and the group of European Union countries with 10 percent."
The remainder of 23 percent share in Qatar's export was distributed among Qatar's traditional and nearby trading partners, including the Gulf Cooperation Council countries and other Arab countries
The data for the first half of 2020 showed the same proportional distribution, as Japan, China, India, South Korea, and Singapore accounted for two-thirds of the total exports. Foreign merchandise trade is represented by the export and imports of goods and plays a pivotal role in the economic and social development of Qatar.
'Export of goods represents, on average, 40 percent of GDP and provide 81.3 percent of the State's total revenues, said the report. 'The value of imported goods in 2019 amounted to about QR106bn, added the report. Hydrocarbon products represent the most important export of Qatar while machines and equipment, manufactured goods and food commodities are among the major imports.
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