Doha, Qatar: Trade relations between Qatar and Malaysia have scaled unprecedented heights, with the trade volume reaching $1bn last year.
This increase of 79.5% compared to 2021 was announced by Malaysia Ambassador to Qatar, H E Zamshari Shaharan, during his interaction with the media yesterday.
“It’s a record, I mean, we never reached that level before. It’s the highest we’ve ever seen. Before this, it was $600m, which was good, but this year it’s been a bit difficult,” the envoy said.
He attributed the surge to Qatar’s hosting of the World Cup. “Due to the organisation of the World Cup in Qatar, we have seen a significant increase of the trade volume. Of course, COVID-19 had caused a temporary decline, but what is important is to note that last year, it reached $1bn in total trade, that is actually a record even for us,” said Ambassador Shaharan.
Breaking down the $1bn total trade, Malaysia’s exports to Qatar amounted to $330m, while imports from Qatar stood at $750m. Data from Malaysia embassy in Qatar says Malaysia's top five exports to Qatar include palm oil and palm oil-based agriculture products ($49.7m), electrical and electronic products ($48.9m), processed food ($32.7m), machinery, equipment, and parts ($32.5m), and petroleum products ($31.8m).
Palm oil products predominantly consist of palm oil, while the electrical products category comprises electro-diagnostic apparatus, medical and radiological apparatus, insulated wire, cable, and other insulated electric conductors, optical fiber cables, and switching apparatus not exceeding 1000v, along with connectors for optical fiber bundles or cables.
Meanwhile, processed food category includes processed meat, edible products and preparations, and cocoa and cocoa preparations.
Malaysia’s major imports from Qatar include crude petroleum ($353m), chemicals and chemical products ($187.7m), petroleum products ($155.8m), manufactures of metal ($39.8m), and other vegetable oil ($3.3m).
Chemical products encompass polymer of ethylene, in primary forms, other organic chemicals, and inorganic chemical elements, oxides, and halogen salts, while petroleum products primarily constitute refined petroleum products. Manufactures of metal are predominantly aluminum, and other vegetable oil includes animal or vegetable fats and oils chemically modified, along with inedible mixtures.
