Japan has emerged as a top destination for Qatari exports in 2020. The total exports to Japan during last year amounted to around QR29.11bn, according to the data from the Planning and Statistics Authority (PSA).
Exports to China during the last year were around QR28.31bn, which was the second highest amount of exports from Qatar. India came third in the list, as total exports to India amounted to QR 26.77bn during last year. Exports to South Korea were around QR24.12bn during 2020 while Singapore witnessed exports of goods worth QR11.95bn in the past 11 months. Exports figures for Singapore in June were not available. The total exports from Qatar to top five countries was QR121.27bn in 2020.
Exports from Qatar have shown a rising trend in the past three months. The total exports of goods (including exports of goods of domestic origin and re-exports) from Qatar stood at QR49bn in the fourth quarter of last year. In December 2020, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR17.1bn. In November, the total exports of goods were around QR16.6bn while it was around QR15.3bn in October last year.
LNG, mineral fuels, lubricants, related materials, chemicals and related products were the main exported goods from Qatar during the year.
It was an exceptional year for foreign trade with exports and imports showed a volatile trend during the year.
The exports had declined in April due to lack of demand from importing countries due to lockdown imposed by countries. However, the exports have again beginning to see upward momentum after facing slowdown due to impact of COVID-19 outbreak. The last two quarters (third and fourth quarters) were better than the second quarter in terms of exports.
Exports from Asia rose during the second half of the year as countries had relaxed restrictions imposed to curb the spread of COVID-19 pandemic.
Easing of restrictions led to increase in activities in these countries creating more demand for goods. Going forward the exports from Qatar are likely to increase as major Asian countries have revised their economic growth forecast upwards which will eventually boost export demand.
