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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Qatar’s Imports Surged in August Despite of Sanctions

September, 27 2017
watermark Economic news

Imports of Qatar rose in value as it bounced off abruptly during the month of August compared to the earlier month as stated in the government data on Wednesday. This could mean that the economic impact of sanctions enforced by neighboring Arab nations is ebbing.


Previously imports dropped over a third in value after several countries including the United Arab Emirates, Saudi Arabia, Bahrain and Egypt which severed their diplomatic ties with Doha on June 5. However, this affected the shipping routes to Qatar as it closed the border of its country with Saudi Arabia where food and construction materials are being imported.


However, figures showed a sudden increase of 39.1 percent to 8.68 billion riyals or $2.38 billion last month as reported by the planning and statistics ministry. Although in contrast to the statistics from a year earlier, the imports were 7.8 percent lower exhibiting a big recovery compared to the levels for the month of June and July when it plunged greater than 35 percent last year.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.