The data of the Qatari Ministry of Planning and Statistics showed, today, Sunday, that the surplus of the merchandise trade balance of the State of Qatar increased, during last May, by 211.4% on an annual basis, amid the growth of exports and the improvement of economic conditions with the lifting of Corona restrictions.
According to the data, Qatar's trade balance, which measures the difference between total exports and imports during last May, amounted to a surplus of 16.6 billion riyals ($4.56 billion).
Qatar's trade balance surplus was 5.33 billion riyals ($1.46 billion) in the same month of 2020.
The improvement in Qatar’s trade surplus comes as an indication of the economy’s recovery after the effects of the Corona virus on global economies, supply disruptions, lower consumption and lower demand for fuel throughout 2020.
On a monthly basis, Qatar's trade surplus increased by 29.9%, from 12.78 billion riyals ($3.51 billion) in April.
The data showed an increase in Qatari exports in May by 87.8% to 24.91 billion riyals ($6.84 billion), from 13.26 billion riyals ($3.64 billion) in the comparable month of last year.
As for Qatari imports, the data showed an increase of 4.7% on an annual basis during the period to 8.3 billion riyals ($2.28 billion), from 7.93 billion riyals ($2.17 billion) in the comparable month of 2020.
Qatar is the world's largest producer and exporter of liquefied natural gas, and is facing competition for market share around the world with increased exports from major suppliers such as Australia and the United States.
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