Asia become the main destination for Qatari exports

Qatar's economy is seeing an increase in the number of exported goods, signaling the country's recovery from the downturn caused by the pandemic. In October 2021, the profit was more than 30 billion QAR, an increase of 96.38% compared to October 2020 and 7.28% compared to September 2021. At the same time, private sector exports amounted to 2.3 billion riyals, demonstrating an annual increase of 85%. 

In November 2021, the four main export destinations were presented by Asian countries. 

China became the main importer of Qatari goods - the amount of goods reached 5.08 billion riyals, which accounted for 14.8% of total trade. Japan ranked second in terms of exports from Qatar. The amount of goods amounted to 4.48 billion riyals, which is 13.1% more than the amount for the same period last month. The third country was South Korea, where the volume of exports amounted to about 3.55 billion riyals. 

In general, exports to Asia amounted to 48.5% of the total. At the same time, revenue amounted to 34.3 billion riyals, an increase of 106.6% compared to November 2020. 

Once the market is fully stabilized and restored, and assuming there are no new restrictions due to the coronavirus, Qatar's exports are expected to be even more profitable. At the same time, Asian countries will also remain the main direction of export, completely displacing European partners from the leading positions.