Qatar flag Qatar: Economic and Political Overview

Foreign trade figures of Qatar

Foreign Trade in Figures

Qatar's trade policy is essentially focused on creating a modern and liberal economy. This is reflected in its promotion of investment (both domestic and foreign), its trade diversification programs at the regional and international levels and membership in several organisations, such as the WTO. Trade represents 100% of the country's GDP (World Bank, latest data available). Mineral fuels, oils and distillation products represented over 87.2% of the country’s exports in 2022 (mainly natural gas, followed by crude and other oil products), while chemical products accounted for 6.1%. In terms of product category, machinery and transport equipment constituted the main import (35.2% of the total), ahead of miscellaneous manufactured articles (22%), manufactured goods (14%), and food and live animals (11.3% - data PSA).

In 2022, Asia emerged as the primary destination for Qatar's exports, constituting 66.2% of total exports, and the leading source of Qatar's imports, comprising 39.5% of total imports. Following Asia, the European Union accounted for 22.7% of exports and 27.1% of imports, while the GCC represented 6.8% of exports and 5.4% of imports (data PSA). On a country level, the main export partners were China (15.9%), India (11.6%), Japan (10.9%), and South Korea (9.6%). Qatar’s leading suppliers were China (16.2%), the United States (14.6%), India (6.2%) Italy (5.7%), and Germany (5%). Qatar has very few trade barriers and relatively low customs duties. It has signed a number of free trade agreements, both bilaterally and via the Gulf Cooperation Council.

Benefiting from strong oil and gas revenues, Qatar's merchandise trade balance is structurally positive. In 2022, the country’s exports increased by 50%, to reach USD 130.9 billion, on the back of high hydrocarbon prices. On the other hand, imports totalled USD 33.4 billion (+19.6%). As many countries in the region, Qatar remains a net importer of services: imports reached USD 41 billion in 2022, while exports amounted to USD 30.7 billion. The trade surplus was estimated at 36.9% of GDP by the World Bank (the third highest worldwide). According to data from the Qatar Planning and Statistics Authority, in the first three quarters of 2023, the country exported QAR 270.9 billion worth of goods against QAR 84 billion in imports.

 
Foreign Trade Values 20182019202020212022
Imports of Goods (million USD) 31,69629,17825,83527,98533,479
Exports of Goods (million USD) 84,90572,93551,50487,203130,964
Imports of Services (million USD) 32,50435,41634,69834,34041,000
Exports of Services (million USD) 18,27319,11119,42918,34630,728

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 91.890.090.093.0n/a
Trade Balance (million USD) 50,98141,58127,13760,33997,445
Trade Balance (Including Service) (million USD) 36,75025,27611,86944,34587,173
Imports of Goods and Services (Annual % Change) 4.61.9-8.9n/an/a
Exports of Goods and Services (Annual % Change) -1.2-2.2-1.5n/an/a
Imports of Goods and Services (in % of GDP) 35.937.940.934.1n/a
Exports of Goods and Services (in % of GDP) 55.952.249.158.9n/a

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) -3.00.55.54.713.1
Volume of imports of goods and services (Annual % change) 2.42.23.73.66.3

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Member of the Gulf Cooperation Council (GCC)

Member of the Organisation of the Petroleum Exporting Countries (OPEC).

The country is also part of the Greater Arab Free Trade Area(GAFTA), a pact of the Arab League entered into force in January 2005 which aims to form an Arabic free trade area. 

 

Main Partner Countries

Main Customers
(% of Exports)
2022
China 15.9%
India 11.6%
South Korea 10.9%
Japan 9.6%
United Kingdom 6.5%
See More Countries 45.5%
Main Suppliers
(% of Imports)
2022
China 16.2%
United States 14.6%
India 6.2%
Italy 5.7%
Germany 5.0%
See More Countries 52.3%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

131.0 bn USD of products exported in 2022
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 65.2%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 14.3%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 7.8%
Mineral or chemical nitrogenous fertilisers (excl....Mineral or chemical nitrogenous fertilisers (excl. those in pellet or similar forms, or in packages with a gross weight of <= 10 kg) 2.7%
Polymers of ethylene, in primary formsPolymers of ethylene, in primary forms 2.2%
See More Products 7.8%
33.5 bn USD of products imported in 2022
Turbojets, turbopropellers and other gas turbinesTurbojets, turbopropellers and other gas turbines 5.9%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 4.0%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 3.1%
Articles of jewellery and parts thereof, of...Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal (excl. articles > 100 years old) 2.2%
Automatic data-processing machines and units...Automatic data-processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s. 1.9%
See More Products 82.9%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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