The surplus in the merchandise trade balance in the State of Qatar increased, during last August, by 177.4% on an annual basis, amid the growth of exports, improving economic conditions and recovery from the Corona virus pandemic.
Data issued by the Qatari Ministry of Planning and Statistics revealed today, Monday, that the trade balance in Qatar (the difference between total exports and imports) recorded a surplus of 19.19 billion riyals ($5.27 billion) during August 2021.
Qatar's trade balance surplus recorded 6.921 billion riyals ($1.90 billion) in August 2020.
The improvement in Qatar's trade surplus comes as an indication of the economy's recovery and the improvement in global demand for natural gas, which is witnessing record price hikes.
On a monthly basis, Qatar's trade surplus decreased by 2% from 19.594 billion riyals ($5.38 billion) last July.
Last August, Qatari exports rose by 94.2 percent to 27.29 billion riyals ($7.49 billion), compared to 14.05 billion riyals ($3.86 billion) in August of last year.
With regard to imports, the data showed an increase of 2.9% on an annual basis, during the last month, to 8.09 billion riyals ($ 2.22 billion), compared to 7.12 billion riyals ($ 1.95 billion) in the same month of 2020.
Qatar is the world's largest producer and exporter of liquefied natural gas, and it faces tough competition for market share around the world with increased exports from major suppliers such as Australia and the United States.
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