Economic and Trade Relations Italy-Qatar
After many years of robust and steady growth, the volume of bilateral trade between Italy and Qatar decreased in the last months of 2008, mainly as a consequence of the drastic deterioration of the global financial crisis.
The capital goods quota is still the most significant and the essential element are machineries (in particular those for production and use of mechanical power), pipes, vehicles and instruments for measuring and check. Italy's best selling goods are furniture, jewelry, tiles and clothing.
According to the most recent data issued by ICE /ISTAT (Italian Trade Commission and Italian Statistics Authority) Italian exports to Qatar contracted by 5.43% in 2008 while Qatar exports to Italy remained stable (-0.19%). By contrast, figures relative to the first 4 months of 2008 (export +27.7%, import +22.42%) are indicative of the significant negative impact of the global crisis on the volume of traded goods between Italy and Qatar over the last months of last year.
The trade balance remained sizeably in favour of Italy with a surplus in excess of Euro 1489 (million). Italian exports to Qatar represent 94.41% of total bilateral trade although this is likely to change in the second half of 2009 when Italy will eventually start importing LNG from Qatar.
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