Qatar: Trade surplus reaches $5.21bln in October

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Doha, Qatar: The merchandise trade balance of the State of Qatar (difference between total exports and imports) showed a surplus of QR19bn almost, i.e., a decrease of about QR6.1bn or 24.2% compared to October 2022, and decrease by nearly QR0.8bn or 4.2% compared to September 2023.

According to the Planning and Statistics Authority (PSA), in October 2023, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR29.1bn, showing a decrease of 23.5% compared October 2022, and decrease of 0.7% compared to September 2023.

On other hand, the imports of goods in October 2023 amounted to around QR10.1bn, showing a decrease of 22.1% compared to October 2022. and increase of 6.9% compared to September 2023.

The year on year (October 2023 vs. October 2022) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 16.4 billion (approximately) in October 2023, i.e. decrease of 35.7%, Petroleum oils and oils from bituminous minerals (crude) reaching QR6.4bn nearly, increase by 18.1%, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR2.4bn 8.7%.

In October 2023, China was at the top of the countries of destination of Qatars exports with close to QR6.1bn, a share of 21.0% of total exports, followed by India with almost QR3.5bn and a share of 12.1%, and South Korea with about QR2.5bn, a share of 8.6%.

The year on year (October 2023 vs. October 2022), the group of “Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR0.6bn, showing an increase of 19.2%.