The foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 19.6 billion in July 2023, a decrease of about QR 15.1 billion or 43.5 percent compared to July 2022, and an increase of nearly QR 2.2 billion or 12.8 percent compared to June 2023.
In a statement, the Planning and Statistics Authority said that in July 2023, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 29.1 billion, showing a decrease of 34.4 percent compared to July 2022, and increase of 8.4 percent compared to June 2023.
On the other hand, the imports of goods in July 2023 amounted to around QR 9.4 billion, showing a decrease of 1.6 percent compared to July 2022. and an increase of 0.2 percent compared to June 2023.
The year-on-year (July 2023 vs. July 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 17.0 billion (approximately) in July 2023, i.e. decrease of 44.4 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR 5.4 billion nearly, decrease by 10.6 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2.8 billion 5.0 percent.
In July 2023, China was at the top of the countries of destination of Qatar’s exports with close to QR 6.0 billion, a share of 20.7 percent of total exports, followed by South Korea with almost QR 4.1 billion and a share of 14.2 percent, and India with about QR 2.8 billion, a share of 9.6 percent.
The year on year (July 2023 vs. July 2022), the group of “Turbojets, Turbopropellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR 0.8 billion, showing an increase of 4.7 percent. In second place was “Motor Cars & Other Motor Vehicles for The Transport of Persons” with QR 0.29 billion, a decrease of 9.3 percent, and in third place “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR 0.28 billion, showing a decrease of 13.4 percent.
In July 2023, China was the leading country of origin of Qatar’s imports with about QR 1.6 billion, a share of 16.7 percent of the imports, followed by the United States of America with QR 1.4 billion, a share of 14.3 percent, and Germany with QR 0.6 billion, a share of 6.7 percent.
Source: Qatar News Agency
