Doha, Qatar: In June 2023, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR17.4bn, a decrease of about QR12.7bn or 42.3 percent compared to June 2022, and decrease by nearly QR0.8bn or 4.4 percent compared to May 2023 according to the data by the Planning and Statistics Authority (PSA) .
PSA said in its report on foreign trade for the month of June 2023 that the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR26.8bn, showing a decrease of 32 percent compared to June 2022, and decrease of 3.5 percent compared to May 2023.
On other hand, the imports of goods in June 2023 amounted to around QR9.4bn, showing an increase of 1.1 percent compared to June 2022. and decrease by 1.8 percent compared to May 2023.
The year on year (June 2023 vs. Revised data of June 2022) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR16.4bn (approximately) in June 2023, i.e. decrease of 29.7 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR4.8bn nearly, decrease by 26.4 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR2.2bn 46.9 percent.
In June 2023, China was at the top of the countries of destination of Qatar's exports with close to QR5.4bn, a share of 20.1 percent of total exports, followed by South Korea with almost QR3.2bn and a share of 11.9 percent, and India with about QR3.2bn, a share of 11.8 percent.
The year on year (June 2023 vs. Revised data of June 2022), the group of “Turbojets, Turbopropellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR0.50bn, showing an increase of 37.2 percent. In second place was “Motor Cars & Other Motor Vehicles for The Transport of Persons” with QR0.48bn, increase by 44.5 percent, and in third place “Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses” with QR0.3bn, showing increase of 34.7 percent.
In June 2023, the US was the leading country of origin of Qatar’s imports with about QR1.8bn, a share of 19.5 percent of the imports, followed by China with QR1.3bn almost, a share of 14.1 percent, and Germany with QR0.5bn, a share of 5.6 percent.
