Qatar Economic Outlook Issue Number 13

Figure 2-19: Real and current values of 
exports 
)%( 
0.3
-39.2
17.8
24.9
-29.4
7.6
87.4
101.6
-39.4
22.2
-31.3
-60
-40
-20
0
20
40
60
80
100
120
140
20
13
20
14
20
15
20
16
20
17
20
18
20
19
20
20
Q1
Q2
Q3
Annual
2021
R
at
e 
o
f 
ch
an
g
e 
(%)
Exports (QR)
Real export (100=2010)
Energy Price
Source: Planning and Statistics Authority and World Bank 
Oct-2021

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Qatar Economic Outlook 2021 - 2023 
74 
As for the level of change in Qatar’s exports 
value according to the countries of 
destination in 2020 compared to 2019, it is 
evident from Figure (2-20) that more than 
75% of such exports were heading towards 
countries that were significantly affected by 
Covid-19 pandemic shutdowns. This led to a 
decline in financial returns from the European 
Union, Japan, Singapore, and South Korea, 
but financial returns rose from the rest of the 
other countries, including China and India. 
With regard to the total value of imports, 
these declined from QR 106 billion in 2019 to 
QR 94 billion in 2020, where most of the 
decline came from the decline in the import 
value of machinery and equipment, followed 
by hydrocarbon derivatives, manufactured 
goods and others. This is attributed to the 
slowdown in aggregate demand in 
consumption and investment caused by a 
change in the behavior of consumers and 
investors, such as the change in their 
consumption patterns, or the decrease in 
purchasing power due to a decline – or 
merely the fear of such a decline - in the 
incomes of individuals and institutions, or 
because of the uncertainty that prevailed in 
all countries. The decline in domestic 
aggregate demand further led to the decline 
in the inflation rate from negative 0.9% in 
2019 to negative 2.6% in 2020 (see prices 
section).