Qatar Foreign Merchandise Trade Surplus Surges 77.8% in June YoY

By A Robin - July 28, 2022

Hamad Port

The foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 30.2 billion in June 2022, i.e. an increase of about QR 13.2 billion or 77.8 percent compared to June 2021, and decrease by nearly QR 4.1 billion 11.9 percent compared to May 2022.

In a statement, the Planning and Statistics Authority said that in June 2022, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 39.5 billion, showing an increase of 56.2 percent compared to June 2021, and a decrease of 8.2 percent compared to May 2022.

On other hand, the imports of goods in June 2022 amounted to around QR 9.3 billion, showing an increase of 12.1 percent compared to June 2021. and increase of 6.4 percent compared to May 2022.

(Table1) The year on year (June 2022 vs. June 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 23.3 billion (approximately) in June 2022, i.e. an increase of 64.6 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR 6.5 billion nearly, increase by 47.6 percent, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching 4.2 Billion 82.4 percent.

In June 2022, China was at the top of the countries of destination of Qatars exports with close to QR 6.0 billion, a share of 15.2 percent of total exports, followed by India with almost QR 4.2 billion and a share of 10.6 percent, South Korea with about QR 4.1 billion, a share of 10.5 percent.

The year on year (June 2022 vs. June 2021), the group of "Turbojets, Turbopropellers & Other Gas Turbines; Parts Thereof " was at the top of the imported group of commodities, with QR 0.4 billion, showing a decrease of 51.1 percent. In second place was " Motor Cars & Other Motor Vehicles for The Transport of Persons " with QR 0.34 billion, showing a decrease of 6.4 percent and in third place was " Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof " with QR 0.31 billion, increase of 37.9 percent.

In June 2022, China was the leading country of origin of Qatars imports with about QR 1.6 billion, a share of 17.1 percent of the imports, followed by United State of America with QR 1.2 billion almost, a share of 12.7 percent, and India with QR 0.6 billion, a share of 6.7 percent.

(QNA)