Qatar Foreign Merchandise Trade Surplus Reaches QR 17.6 billion in March

Doha, April 30 (QNA) - The foreign merchandise trade balance, which represents the difference between total exports and imports, in March 2024 showed a surplus of QR 17.6 billion almost, i.e., a decrease of about QR 3.6 billion or 17.1 percent compared to March 2023, and a decrease by nearly QR 0.5 billion or 2.8 percent compared to February 2024.
The Planning and Statistics Authority has released preliminary figures of the value of exports of domestic goods, re-exports, and imports for March 2024. A brief analysis of the data is given below: In March 2024, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 28.5 billion, showing a decrease of 7.6 percent compared to March 2023, and an increase of 1.0 percent compared to February 2024.
On other hand, the imports of goods in March 2024 amounted to around QR 10.9 billion, showing an increase of 13.2 percent compared to March 2023. and increase of 7.8 percent compared to February 2024 The year on year (March 2024 vs. March 2023) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 16.6 billion (approximately) in March 2024, i.e. decrease of 12.7 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR 5.0 billion nearly, increase by 2.7 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2.5 billion 2.9 percent.
In March 2024, China was at the top of the countries of destination of Qatar's exports with close to QR 5.8 billion, a share of 20.2 percent of total exports, followed by India with almost QR 4.4 billion and a share of 15.3 percent, and South Korea with about QR 4.0 billion, a share of 14.1 percent.
Year on year (March 2024 vs. March 2023), the group 'Motor Cars & Other Motor Vehicles for The Transport of Persons' was at the top of the imported group of commodities, with QR 0.6 billion, showing an increase of 58.0 percent. In second place was "Parts of Aeroplanes or Helicopters" with QR 0.30 billion, decrease by 45.0 percent, and in third place "Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof" with QR 0.29 billion, showing an increase of 18.5 percent.
In March 2024, China was the leading country of origin of Qatar's imports with about QR 1.50 billion, a share of 13.7 percent of the imports, followed by United States of America with QR 1.49 billion almost, a share of 13.7 percent, and India with QR 0.7 billion, a share of 6.1 percent. (QNA)