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Sunday, February 28, 2021

Qatar’s imports recover after a rocky summer

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Hamad Port for illustrative purposes only. Credit: Mwani

After plunging two months in a row, the value of Qatar’s imports jumped sharply in August, according to new government figures.

They stood at QR8.7 billon, an increase of 39.1 percent from July, the Ministry of Development, Planning and Statistics (MDPS) said.

The August figures were still down 7.8 percent from the same time last year.

However, the figures are a notable improvement from the sharp y-o-y drops of up to 35 percent seen in June and July.

Gulf dispute

Those months marked the beginning of a boycott on Qatar by some of its Gulf neighbors, who cut ties with the country over alleged terrorism links.

Qatar has denied these claims.

Turkish chicken. Credit: Al Meera

Despite the initial drop-off in imports due to the air, land and sea blockade, the country has forged new trading partners for construction materials and food, including Iran, Turkey and India.

The crisis now continues into its fifth month.

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