Qatar registers trade surplus of QR25.1 bn in October 2022: PSA
China ranks first in the destination countries for the exports of Qatar
QATAR’S merchandise trade balance, which represents the difference between total exports and imports, recorded a surplus of QR 25.1 billion ($6.8 billion) in October this year, an increase of QR3.9 billion, or 18.5 percent year-on-year, compared to the same month last year. It decreased by approximately QR6 billion, or 19.2 percent, compared to September this year.
According to Planning and Statistics Authority, the value of total Qatari exports that includes exports of local origin and re-exports during October this year amounted to approximately QR38 billion, an increase of 26.3 percent, compared to the same month last year, and a decrease of 10.3 percent compared to September
this year.
On the other hand, the value of merchandise imports increased to about QR 12.9 billion, an increase of 45 percent compared to October 2021, and an increase of 14.3 percent compared to September 2022.
With regard to the value of exports last October, compared to the same month of 2021, the value of exports of ‘oil gases and other gaseous hydrocarbons’ that represent liquefied natural gas, condensate, propane, butane, and others increased to reach about QR25.5 billion, or 35.2 percent.
“Petroleum oils and oils obtained from bituminous mineral raw materials” reached approximately QR5.4 billion, or 33.2 percent, and the value of exports of “oil oils and oils obtained from non-crude bituminous mineral materials” decreased to about 2.2 billion riyals, or 28.8 percent.
China ranks first in the destination countries for the exports of Qatar, during the month of October, with a value of approximately QR5.6 billion, or 14.8 percent, of the total value of Qatari exports, followed by India, with a value of approximately QR4.63 billion, or 12.2 percent of the total value of exports. India is followed by South Korea, with a value of approximately QR 4.61 billion, or 12.1 percent.
In October 2022, the United State of America was the leading country of origin of Qatar’s imports with about QR2.2 billion, a share of 17 percent of all imports, followed by China with almost QR2.1 billion, a share of 16.2 percent, and Germany with QR0.7 billion, a share of 5.5 percent.