Qatar's rising exports| MENAFN.COM

Thursday, 06 October 2022 11:39 GMT

Qatar's rising exports

(MENAFN- The Peninsula) QATAR'S trade surplus, which represents the dif-ference between total exports and imports, has once again showed a rising trend which is a good sign for ongoing economic recovery.

The trade surplus has been rising consistently over the past few months which demonstrate the strength of country's economy.

According to the figures released by the Planning and Statistics Authority, Qatar recorded a merchandise trade surplus of QR57.8bn in the third quarter (Q3) of this year compared to QR19.6bn in Q3 of previous year.The rising trend in the trade surplus has also been witnessed in the past months.

The positive growth indicates that the Qatari economy has witnessed a remarkable recovery from the negative impacts of COVID-19 pandemic. The healthy growth in trade surplus also demon-strates that the pace of economic recovery in Qatar's economy has gained strong momentum and the recovery will continue in coming months.

In the third quarter of 2021, the value of Qatar's total exports (including exports of domestic goods and re-exports) amounted to QR82.6bn, increased by QR41.5bn (101 percent) compared to the third quarter of 2020 which amounted total exports of QR41.1bn and increased by nearly QR11.7bn or 16.5 percent compared to the second quarter of 2021.

Qatar's foreign merchandise trade balance showed a surplus of QR19.6bn in July 2021, reflecting an increase of about QR13.3bn or 213.4 percent com-pared to July 2020. When compared month-on-month, the surplus increased by nearly QR2.6bn or 15.5 percent compared to June 2021. The foreign merchandise trade balance had showed a surplus of QR19.2bn in August 2021, showing an increase of about QR12.3bn or 177.4 percent com-pared to August 2020.

Showing a similar trend, the foreign merchandise trade balance had showed a surplus of QR16.6bn, showing an increase of about QR11.3bn or 211.4 percent compared to May 2020. The surplus increased by nearly QR3.8bn or 29.9 percent compared to April 2021.Like trade surplus, other indicators have also con-firmed the strength of recovery.

Qatar Purchasing Man-agers' Index (PMI) had hit an all-time record high in September. The PMI rose for the fourth month running to 60.6 in September, from 58.2 in August.

The figure signalled the strongest overall improvement in oper-ating conditions since the survey began in April 2017, surpassing the previous record high of 59.8 in July 2020. Business conditions have improved for 15 suc-cessive months, the longest sequence in the survey's history.The recovery in Qatar's economy is consistent and is unmatched in the region.

The long term growth pros-pects of Qatar's economy are bright and the economy is expected to grow at a faster pace over the next


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