Qatar Foreign Merchandise Trade Surplus Reach QR 19.9 Billion in September 2023

Doha, Qatar foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 19.9 billion in September 2023, a decrease of about QR 11.2 billion or 36.1% compared to September 2022, and decrease by nearly QR 1.5 billion or 7.0% compared to August 2023.

According to the figures released by the Planning and Statistics Authority today, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 29.3 billion, showing a decrease of 30.9% compared September 2022, and decrease of 6.8% compared to August 2023.

On other hand, the imports of goods in September 2023 amounted to around QR 9.4 billion, showing a decrease of 16.7% compared to September 2022. and decrease of 6.5% compared to August 2023.

The year on year (September 2023 vs. September 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 16.7 billion (approximately) in September 2023, i.e. decrease of 44.7%, Petroleum oils and oils from bituminous minerals (crude) reaching QR 5.4 billion nearly, increase by 12.7%, and increase in the Petroleum oils and oils from bituminous minerals (not crude) reaching 3.2 billion 4.1%.

In September 2023, China was at the top of the countries of destination of Qatar’s exports with close to QR 5.0 billion, a share of 17.0% of total exports, followed by South Korea with almost QR 3.44 billion and a share of 11.8%, and India with about QR 3.42 billion, a share of 11.7%.

The year on year (September 2023 vs. September 2022), the group of “Turbojets, Turbopropellers and Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR 0.7 billion, showing a decrease of 10.7%. In second place was “Parts of Aeroplanes or Helicopters” with QR 0.42 billion, increase by 38.5%, and in third place “Motor Cars and Other Motor Vehicles for the Transport of Persons” with QR 0.36 billion, showing a decrease of 11.6%.

In September 2023, United State of America was the leading country of origin of Qatar’s imports with about QR 2.1 billion, a share of 21.9% of the imports, followed by China with QR 1.3 billion almost, a share of 14.2%, and Italy with QR 0.7 billion, a share of 7.1%.

Source: Qatar News Agency