28 June 2022

Qatar's Trade Balance Surplus Jumps By 120.1% YoY in May

Local
  • Qatar

Doha, June 28 (QNA) - The Planning and Statistics Authority has released preliminary figures of the value of exports of domestic goods, re-exports and imports for May 2022. The data showed that the trade balance surplus jumped 120.1 percent year-over-year in May.
In May 2022, the total exports of goods (including exports of goods of domestic origin and reexports) amounted to around QR 45.3 billion, showing an increase of 81.9 percent compared to May 2021, and an increase of 4.3 percent compared to April 2022.
On other hand, the imports of goods in May 2022 amounted to around QR 8.8 billion, showing an increase of 5.5 percent compared to May 2021. and decrease of 5.6 percent compared to April 2022. In May 2022, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 36.6 billion almost, i.e. an increase of about QR 20.0 billion or 120.1 percent compared to May 2021, and increase by nearly QR 2.4 billion 7.0 percent compared to April 2022.
The year on year (May 2022 vs. May 2021) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 30.3 billion (approximately) in May 2022, i.e. an increase of 116.2 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR 5.6 billion nearly, increase by 39.5 percent, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching 3.3 Billion 36.5 percent.
In May 2022, China was at the top of the countries of destination of Qatars exports with close to QR 7.0 billion, a share of 15.5 percent of total exports, followed by India with almost QR 5.4 billion and a share of 11.9 percent, United Kingdom with about QR 4.7 billion, a share of 10.3 percent.
The year on year (May 2022 vs. May 2021), the group of "Motor Cars & Other Motor Vehicles for The Transport of Persons" was at the top of the imported group of commodities, with QR 0.4 billion, showing an decrease of 6.7 percent. In second place was " Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof " with QR 0.257 billion, showing an increase of 24.2 percent and in third place was " Parts of Balloons Est: Parts of Aircraft, spacecraft Est." with QR 0.254 billion, increase of 38.0 percent.
In May 2022, China was the leading country of origin of Qatars imports with about QR 1.3 billion, a share of 15.3 percent of the imports, followed by United State of America with QR 0.9 billion almost, a share of 10.8 percent, and India with QR 0.6 billion, a share of 6.7 percent. (QNA)

Keywords

Economy, Qatar
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