Qatar's Trade Balance Jumps to QR 25.9 Billion Last January

Qatar Trade progresses last January

Doha,February 27 (QNA) - The foreign merchandise trade balance of the State of Qatar, which represents the difference between total exports and imports, jumped 91.3 percent in January, driven by export growth, compared to January 2021, and increase by nearly QR 0.2 billion 0.8% compared to December 2021.

The Planning and Statistics Authority has released preliminary figures of the value of exports of domestic goods, re-exports and imports for January 2022, showing that in January 2022, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 25.9 billion almost, an increase of about QR 12.4 billion.

In January 2022, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 35.5 billion, showing an increase of 66.9% compared to January 2021, and a decrease of 0.2% compared to December 2021.

On other hand, the imports of goods in January 2022 amounted to around QR 9.6 billion, showing an increase of 24.3% compared to January 2021. and decrease of 2.8% compared to December 2021.

The year on year (January 2022 vs. January 2021) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 22.0 billion (approximately) in January 2022, an increase of 68.0%, Petroleum oils & oils from bituminous minerals (crude) reaching QR 5.5 billion nearly, increase by 81.3%, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2.9 Billion 68.9%.

In January 2022, China was at the top of the countries of destination of Qatars exports with close to QR 6.9 billion, a share of 19.3% of total exports, followed by India with almost QR 4.18 billion and a share of 11.8%, South Korea with about QR 4.16 billion, a share of 11.7%.

The year on year (January 2022 vs. January 2021), the group of "Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities, with QR 0.6 billion, showing an Increase of 3.0%. In second place was "Motor Cars & Other Motor Vehicles for The Transport of Persons" with QR 0.37 billion, showing a decrease of 7.7% and in third place was "Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof" with QR 0.35 billion, increase of 27.6%.

In January 2022, China was the leading country of origin of Qatars imports with about QR 2.3 billion, a share of 24.2% of the imports, followed by United State of America with QR 1.1 billion almost, a share of 11.2 %, and India with QR 0.7 billion, a share of 7.3%. 

Source: QNA