Qatar’s trade surplus reaches QR30.2bn

By A Robin - July 31, 2022

Qatar

Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR30.2bn in June 2022 almost, i.e. an increase of about QR13.2bn or 77.8 percent compared to June 2021, and decrease by nearly QR4.1bn 11.9 percent compared to May 2022.

The Planning and Statistics Authority has released preliminary figures of the value of exports of domestic goods, re-exports and imports for June 2022.

In June 2022, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR39.5bn, showing an increase of 56.2 percent compared to June 2021, and a decrease of 8.2 percent compared to May 2022.

On other hand, the imports of goods in June 2022 amounted to around QR9.3bn, showing an increase of 12.1 percent compared to June 2021. and increase of 6.4 percent compared to May 2022.

The year on year (June 2022 vs. June 2021) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR23.3bn (approximately) in June 2022, i.e. an increase of 64.6 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR6.5bn nearly, increase by 47.6 percent, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching 4.2bn 82.4 percent. In June 2022, China was at the top of the countries of destination of Qatar’s exports with close to QR6.0bn, a share of 15.2 percent of total exports, followed by India with almost QR4.2bn and a share of 10.6 percent, South Korea with about QR4.1bn, a share of 10.5 percent.

The year on year (June 2022 vs. June 2021), the group of “Turbojets, Turbopropellers & Other Gas Turbines; Parts Thereof “ was at the top of the imported group of commodities, with QR0.4bn, showing a decrease of 51.1 percent. In second place was “ Motor Cars & Other Motor Vehicles for The Transport of Persons “ with QR0.34bn, showing a decrease of 6.4 percent and in third place was “ Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof “ with QR0.31bn, increase of 37.9 percent. In June 2022, China was the leading country of origin of Qatar’s imports with about QR1.6bn, a share of 17.1 percent of the imports, followed by United State of America with QR1.2bn almost, a share of 12.7 percent, and India with QR0.6bn, a share of 6.7 percent.