Qatar Records a Trade Surplus of QAR 9.1 Billion in November 2020; Economic Indicators Favourable

In November 2020, Qatar reported total exports (domestic origin and re-exports) of QAR 16.6 billion and total imports of QAR 7.5 billion, resulting in an international trade surplus of QAR 9.1 billion, according to local media reports.

Whilst this amounted to a 28.6% month-on-month increase in November 2020, Qatar’s trade surplus was down 27.4% year-on-year compared to November 2019. Local media reports stated that the decrease in the value and volume of exports was mainly due to low oil prices resulting from the COVID-19 crisis.

Despite the impact of the pandemic, economic experts are of the opinion that Qatar’s economy has seen a notable recovery in recent weeks. Estimates from FocusEconomics predict Qatar’s gross domestic product (GDP) to increase ar...