Image used for representation only.
Doha, Qatar: Asian countries occupied a dominating position in Qatar’s exports during the third quarter (Q3) of 2023, with the top four export destinations for Qatari exports coming from Asia.
Qatari exports witnessed consistent growth during the third quarter (July to September) of the current year, with China securing the top spot for Qatari exports’ destination, according to the Planning and Statistics Authority (PSA) data.
Exports from Qatar to China in July to September of the year reached QR12.582bn. South Korea secured the second place with Qatari exports amounting to QR11.475bn in the third quarter and India secured the third place in the ranking as total Qatari exports to the country stood at QR9.949bn in Q3, 2023.
Japan came in fourth place as total exports from Qatar reached QR6.676bn in the third quarter. In third quarter of 2023, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR89.8bn, decreased by QR43.8bn (32.8 percent) compared to the third quarter of 2022 which amounted total exports of QR133.6bn. And increased by nearly QR4.4bn or 5.2 percent compared to Q2, 2023.
The Q3, 2023 year on year (Y-o-Y) decrease in total exports was mainly due to lower exports of Mineral fuels, lubricants and related materials by QR41.2bn (34.6 percent), chemicals and related products by QR2.7bn (30.8 percent), crude materials, inedible, except fuels by 0.3bn (53.7 percent). On other hand increases was recorded mainly in machinery and transport equipment by 0.4bn (19.6 percent), and miscellaneous manufactured articles by 0.1bn (12 percent).
During Q3 2023, Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 74.9 percent and 36.3 percent respectively, followed by the European Union, accounting for 10.4 percent and 27.5 percent respectively, and GCC, with 9.4 percent and 7.3 percent respectively.
In the first and second quarter of this year the total exports reached QR95.858bn and QR85.336bn respectively.
