Qatar’s surging exports and prudent wealth management initiatives helped the country rank among the world’s top nations in terms of trade surplus.

According to a recent report by Russian news agency ‘RIA Novosti,’ Qatar’s trade surplus of $97.5 billion made it the sixth among countries that registered the highest numbers in 2022. Qatar thus improved their rankings by five spots from 2021. 

Qatar’s trade balance surged 64.9% on an annual basis with the support of increased Qatari exports. According to the Planning and Statistics Authority, in 2022, Qatar recorded a trade balance surplus of QR354.85bn compared to QR215.25bn in 2021.

Qatar’s trade balance performance was supported by the increase in Qatar’s exports by 50.2% to reach QR476.71bn compared to QR317.42bn in 2021. Meanwhile, Qatar’s imports increased by 19.3% to reach QR121.86bn in 2022 compared to QR102.17bn in 2021.

Qatar finished ahead of Germany, which dropped to seventh place globally with a surplus of $85.34bn, 2.5 times lower than the 2021 results.

The report by the Russian agency said China and Russia had become the world leaders in terms of trade surplus in 2022 and broke their respective records for that indicator.

The study was based on data from the national statistical services of the 60 largest economies in the world from January till December. The final sample included economies that, as of mid-March, disclosed data for 2022 and received a trade surplus.

During 2022, China’s trade surplus rose by 30% and reached its peak point in the entire history of observations — $877.6bn. Russia increased its surplus by 1.7 times to a record $333.4bn, helping it finish second. Saudi Arabia came third ahead of Norway and Australia.

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