In August 2023, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 21.4 billion almost, i.e., a decrease of about QR 14.9 billion or 41.1% compared to August 2022, and increase by nearly QR 1.7 billion or 8.7% compared to July 2023.
The Planning and Statistics Authority data stated that the total exports of goods (including exports of goods of domestic origin and reexports) amounted to around QR 31.4 billion, showing a decrease of 32.9% compared August 2022, and increase of 8.0% compared to July 2023.
On other hand, the imports of goods in August 2023 amounted to around QR 10.1 billion, showing a decrease of 4.8% compared to August 2022. and increase of 6.6% compared to July 2023.
The year on year (August 2023 vs. August 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 17.7 billion (approximately) in August 2023, i.e. decrease of 47.4%, Petroleum oils & oils from bituminous minerals (crude) reaching QR 6.8 billion nearly, increase by 30.1%, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching 3.2 billion 8.4%.
In August 2023, China was at the top of the countries of destination of Qatars exports with close to QR 7.5 billion, a share of 23.9% of total exports, followed by South Korea with almost QR 3.9 billion and a share of 12.4%, and India with about QR 3.3 billion, a share of 10.5%.
The year on year (August 2023 vs. August 2022), the group of “Turbojets, Turbopropellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR 0.51 billion, showing a decrease of 14.1%. In second place was “Parts of Aeroplanes or Helicopters” with QR 0.49 billion, increase by 93.7%, and in third place “Motor Cars & Other Motor Vehicles for the Transport of Persons” with QR 0.48 billion, showing an increase of 3.9%.
In August 2023, United State of America was the leading country of origin of Qatars imports with about QR 1.8 billion, a share of 17.7% of the imports, followed by China with QR 1.4 billion almost, a share of 13.5%, and Germany with QR 0.9 billion, a share of 8.5%.
Source: Qatar News Agency