Middle East

Asia to top Qatar export destinations in 2021 – Doha News

Qatar’s total LNG exports will reach $11.9 billion in April 2022, up from $5.8 billion in April 2021. Qatar sent most of her LNG to China, followed by India and Japan.

Asian countries will top the list as Qatar’s major export destinations in 2021, according to official statistics.

Qatar’s Planning and Statistics Authority (PSA) confirmed that total exports to Asia reached QAR 235.8 billion last year alone.

Qatar’s exports to the European Union last year amounted to about 39.41 billion QAR, second only to China.

The GCC ranks third on the list, with total exports to GCC countries reaching QAR 21.7 billion in 2021.

Exports to other Arab countries are estimated at about 1.9 billion QAR, while exports to other European countries totaled 1.3 billion QAR last year.

Exports to the US in 2021 were worth nearly QAR 6.15 billion, compared to QAR 4.95 billion from other US countries last year.

Qatar’s total exports in 2021 will be QAR 317.4 billion, up QAR 129.9 billion, or 69.3%, from QAR 187.5 billion in 2020.

The increase in total export value in 2021 compared to 2020 was mainly due to increased exports of mineral fuels, lubricants and similar materials, which collectively increased by QAR 114.5 billion, accounting for 74.7%.

Chemicals and their non-mentioned products increased by 11.5 billion QAR to reach 60.4%, while products mainly classified by material increased by 47.5% by 2.6 billion QAR.

raw material Non-food non-fuel consumption increased by 2 billion QAR, a whopping 662% increase from last year. Finally, machinery and transportation equipment he rose 23.1%.

On the other hand, exports of other products decreased by QAR 1.8 billion to about 63.1%.

Qatar’s exports have increased overall, reaching QAR 49 billion in the fourth quarter of last year, including exports and re-exports of domestic origin.

Total export value, including domestic exports and re-exports, was estimated at around QAR 17.1 billion in December 2020. It increased from about 15.3 billion QAR in October last year to about 16.6 billion QAR in November.

The total export value, including domestic origin exports and re-exports, reached approximately QAR 35.5 billion in January 2022, representing an increase of 66.9% from January 2021.

Qatar becomes world’s largest LNG exporter

Meanwhile, Qatar overtook the United States as the world’s largest LNG exporter in April this year as LNG exports hit a five-year high after seasonal maintenance at its LNG plant ended, according to Camco Invest. gas) exporter.

Qatar’s total LNG exports will reach $11.9 billion in April 2022, up from $5.8 billion in April 2021. Qatar sent most of her LNG to China, followed by India and Japan.

According to the International Energy Agency, the Asia-Pacific region will drive up to 50% of the increase in natural gas demand over the period. As for sectors, the IEA forecasts that the industrial sector will account for almost 60% of global gas growth between 2021 and 2025.

Rising natural gas prices have been beneficial to the GCC, especially Qatar, a world-renowned LNG supplier.

With 21% of the LNG export market share in 2021, Qatar has emerged as one of the major countries where the EU is looking to acquire more LNG to find new suppliers and increase LNG imports. increase.

In 2021, the EU will import 24% of its 77 billion cubic meters (bcm) of LNG from Qatar, overtaking Russia at 20% and trailing the US at 26%, which is just 2% ahead of the country.

According to the International Monetary Fund, EU concerns over Russian natural gas supplies are weighing heavily on the European economy and are expected to have a negative impact on the global economy.

Europe now faces the prospect of gas cuts, and Russia is struggling with the impact of US and EU sanctions.

According to the International Energy Agency, Russian natural gas will only account for 25% of the EU’s total natural gas demand in 2022. One of the main factors keeping global gas prices high is the efforts of EU Member States to identify new natural gas suppliers.

https://dohanews.co/asia-named-top-destination-for-qatari-exports-in-2021/ Asia to top Qatar export destinations in 2021 – Doha News

Back to top button