Doha, Qatar: The merchandise trade balance of the State of Qatar (difference between total exports and imports) recorded a surplus of QR60.9bn Q3 2023, down from QR102.1bn in Q3 2022.

According to the press release on “Quarterly Foreign Merchandise Trade Statistics, Q3 2023 State of Qatar”, published by the Planning and Statistics Authority (PSA), Qatars total exports in Q3 2023 (including exports of domestic goods and re-exports) amounted to QR89.8bn, decreased by QR43.8bn (32.8%) compared to Q3 2022 which amounted total exports of QR133.6bn, and increased by nearly QR4.4bn or 5.2% compared to Q2 2023.

The Q3 2023 year on year (Y-o-Y) decrease in total exports was mainly due to lower exports of Mineral fuels, lubricants and related materials by QR41.2bn (34.6%), Chemicals and Related Products n.e.s. by QR2.7bn (30.8%), Crude Materials, Inedible, Except Fuels. by QR0.3bn (53.7%).

On other hand increases was recorded mainly in Machinery and Transport Equipment by QR0.4bn (19.6%), and Miscellaneous Manufactured Articles by QR0.1bn (12.0%).

The value of Qatars imports in Q3 2023 was QR28.9bn; decreased by QR2.5bn (8.1%) compared to Q3 2022 imports of QR31.5bn, and increased by nearly QR1.2bn or 4.4% compared to Q2 2023.

The Q3 2023 (Y-o-Y) decrease in imports values is mainly due to decreases in Miscellaneous Manufactured Articles by QR1.0bn (16.0%), Chemicals and Related Products n.e.s. QR0.64bn (20.3%), Food and Live Animals by QR0.56bn (15.5%), Crude Materials, Inedible, Except Fuels by QR0.2bn (16.3%).

On other hand increases was recorded mainly in Machinery and Transport Equipment by QR0.1bn (1.0%) and Manufactured Goods Classified Chiefly by Material by QR0.06bn (1.5%).

During Q3 2023, Asia was the principal destination of Qatars exports and the first origin of Qatars imports, representing 74.9% and 36.3% respectively, followed by the European Union, accounting for 10.4% and 27.5% respectively, and GCC, with 9.4% and 7.3% respectively.

© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).