28 February 2024

Qatar's Merchandise Trade Balance Surplus Reaches QR 17.5 Billion in January

Local
  • Qatar

Doha, February 28 (QNA) - The foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 17.5 billion in January 2024, almost a decrease of about QR 6.8 billion or 28.1 percent compared to January 2023, and decrease by nearly QR 1.3 billion or 6.8 percent compared to December 2023.
The Planning and Statistics Authority released today, that the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 30.9 billion, showing a decrease of 9.1 percent compared to January 2023, and an increase of 5.7 percent compared to December 2023.
On other hand, the imports of goods in January 2024 amounted to around QR 13.4 billion, showing an increase of 38.3 percent compared to January 2023. and increase of 28.0 percent compared to December 2023.
The year on year (January 2024 vs. January 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 19.7 billion (approximately) in January 2024, i.e. decrease of 10.8 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR 5.0 billion nearly, decrease by 0.2 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2.1 billion 35.2 percent.
In January 2024, China was at the top of the countries of destination of Qatar's exports with close to QR 7.5 billion, a share of 24.2 percent of total exports, followed by South Korea with almost QR 4.2 billion and a share of 13.5 percent, and India with about QR 4.1 billion, a share of 13.1 percent.
Year on year (January 2024 vs. January 2023), the group "Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof" was at the top of the imported group of commodities, with QR 0.42 billion, showing decrease of 7.2 percent. In second place was "Motor Cars & Other Motor Vehicles for the Transport of Persons" with QR 0.41 billion, decrease by 6.0 percent, and in third place "Parts of Aeroplanes or Helicopters" with QR 0.3 billion, showing an increase of 46.1 percent.
In January 2024, China was the leading country of origin of Qatar's imports with about QR 1.8 billion, a share of 13.2 percent of the imports, followed by Oman with QR 1.3 billion almost, a share of 9.3 percent, and United State of America with QR 1.0 billion, a share of 7.1 percent. (QNA)

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Economy, Qatar
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