Image used for representation only.
Doha, Qatar: The foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR19.6bn in July 2023, a decrease of about QR15.1bn or 43.5 percent compared to July 2022, and an increase of nearly QR2.2bn or 12.8 percent compared to June 2023 according to preliminary figures of the value of exports of domestic goods, re-exports, and imports for July 2023 released by Planning and Statistics Authority.
In July 2023, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR29.1bn, showing a decrease of 34.4 percent compared July 2022, and increase of 8.4 percent compared to June 2023.
On other hand, the imports of goods in July 2023 amounted to around QR9.4bn, showing a decrease of 1.6 percent compared to July 2022. and increase of 0.2 percent compared to June 2023.
In July 2023, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR19.6bn almost, that is a decrease of about QR15.1bn or 43.5 percent compared to July 2022, and increase by nearly QR2.2bn or 12.8 percent compared to June 2023.
The year on year (July 2023 versus July 2022) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR17bn (approximately) in July 2023, i.e. decrease of 44.4 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR5.4bn nearly, decrease by 10.6 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR2.8bn 5 percent.
In July 2023, China was at the top of the countries of destination of Qatar’s exports with close to QR6bn, a share of 20.7 percent of total exports, followed by South Korea with almost QR4.1bn and a share of 14.2 percent, and India with about QR2.8bn, a share of 9.6 percent.
The year on year (July 2023 versus July 2022), the group of “Turbojets, Turbopropellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR0.8bn, showing an increase of 4.7 percent. In second place was “Motor Cars & Other Motor Vehicles for The Transport of Persons” with QR0.29bn, decrease by 9.3 percent, and in third place “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR0.28bn, showing a decrease of 13.4 percent.
In July 2023, China was the leading country of origin of Qatar’s imports with about QR1.6bn, a share of 16.7 percent of the imports, followed by United State of America with QR1.4bn almost, a share of 14.3 percent, and Germany with QR0.6bn, a share of 6.7 percent.
