Saudi Arabia
Saudi Arabia, Qatar to settle Syria’s $15 million debt to World Bank
Saudi Arabia and Qatar announced on Sunday that they will jointly settle Syria’s outstanding debt to the World Bank, amounting to approximately $15 million.
In Q3 2024, Qatar recorded a merchandise trade balance surplus of QR 57.7 billion, down from QR 60.9 billion in the same period of 2023.
The total value of Qatar's exports in Q3 2024, which includes domestic goods and re-exports, amounted to QR 87.8 billion © Mena Today
In Q3 2024, Qatar recorded a merchandise trade balance surplus of QR 57.7 billion, down from QR 60.9 billion in the same period of 2023.
According to data released by the Planning and Statistics Authority (PSA) and reported by Qatar News Agency (QNA), this reflects shifts in both export and import activities during the quarter.
Export Trends: Slight Decline Year-on-Year, Growth Quarter-on-Quarter
The total value of Qatar's exports in Q3 2024, which includes domestic goods and re-exports, amounted to QR 87.8 billion, a year-on-year (Y-o-Y) decline of QR 2.0 billion (2.2%) from QR 89.8 billion in Q3 2023. However, exports grew by QR 2.8 billion (3.3%) compared to Q2 2024.
The Y-o-Y decrease in total exports was primarily driven by:
Conversely, notable increases were observed in:
Import Activity: Modest Year-on-Year Increase
Qatar’s imports in Q3 2024 totaled QR 30.1 billion, representing a Y-o-Y increase of QR 1.2 billion (4.1%) from QR 28.9 billion in Q3 2023. However, compared to Q2 2024, imports saw a slight decrease of QR 0.3 billion (1.1%).
The increase in imports was driven by:
At the same time, declines were recorded in:
Regional Trade Partners
Asia continued to dominate as Qatar's primary trading partner:
Other significant trade regions included:
The Q3 2024 trade figures highlight a dynamic trade environment, with fluctuations in key commodity categories and evolving trade patterns.
Despite a slight dip in the trade surplus compared to the previous year, quarter-on-quarter growth in exports and robust import activity underscore Qatar's strong position in global trade.
These figures emphasize Qatar's strategic focus on diversifying its export base and strengthening trade relations, particularly with key partners in Asia, the GCC, and Europe.
By Hassan Salah
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