Qatar’s Trade Surplus Reaches QAR 17.7B in September 2024

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Photo by BSUQ 

Qatar continues to showcase its strong trade position with a foreign merchandise trade surplus of QAR 17.7 billion in September 2024, according to preliminary data from the National Planning Council. While the surplus reflects the nation’s robust economic activity, changes in export and import trends reveal key insights into the market.

Export Highlights

  • Total Exports: Qatar’s total exports, including domestic goods and re-exports, stood at QAR 27.6 billion. This represents:

    • A 7.9% decrease compared to August 2024.

    • A 7% drop year-on-year from September 2023.

  • Petroleum Products:

    • Exports of petroleum gases and gaseous hydrocarbons (including LNG, condensates, propane, and butane) amounted to QAR 16.7 billion, with a slight 0.1% decline.

    • Crude petroleum oil exports fell by 31.3%, reaching QAR 3.7 billion.

    • Non-crude petroleum oils dropped by 21.5%, totaling QAR 2.5 billion.

Import Highlights

  • Total Imports: Qatar’s imports reached approximately QAR 9.9 billion, reflecting a 4.9% year-on-year increase from September 2023.

  • Key Import Categories:

    • "Parts of Balloons, Aircraft, and Spacecraft" declined by 10.6%, reaching QAR 0.4 billion.

    • "Turbojets and Turbopropellers" dropped by 52%, totaling QAR 0.3 billion.

    • "Medicaments" rose sharply by 37.3%, reaching QAR 0.2 billion.

Top Trade Partners

  • Exports:

    • China: QAR 5.6 billion (20.3% of total exports).

    • South Korea: QAR 3 billion (10.8%).

    • India: QAR 2.9 billion (10.4%).

  • Imports:

    • China: QAR 1.7 billion (17.5% of total imports).

    • United States: QAR 1.1 billion (10.9%).

    • Japan: QAR 0.6 billion (5.9%).

Economic Context

Qatar’s trade performance reflects ongoing shifts in global commodity prices, particularly in the petroleum sector, which accounts for a significant portion of the country’s exports. The notable declines in crude and non-crude oil exports highlight the importance of diversifying trade portfolios to maintain economic stability.

Business Opportunities in Qatar

Qatar’s evolving trade landscape offers numerous opportunities for businesses and entrepreneurs. Business Start Up Qatar provides a range of services, including:

  • Market Research and Assessment.

  • Business Model Development.

  • Company Formation and Sponsorship.

  • Feasibility Studies and Business Plans.

To learn more about Qatar’s trade ecosystem and explore opportunities to grow your business in this dynamic market, visit Business Start Up Qatar.


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