Qatar posts QR18.2 billion trade surplus in May

By A Robin - July 17, 2023

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Qatar's merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR18.2 billion in May 2023, a decrease of about QR16 billion or 46.8 percent compared to May 2022, and decrease by QR3.8 billion or 17.2 percent compared to April 2023.

In its statement issued on Sunday, the Planning and Statistics Authority (PSA) showed that the total exports of goods (goods of domestic origin and re-exports) amounted to around QR27.8 billion, showing a decrease of 35.3 percent compared to May 2022, and decrease of 9.4 percent compared to April 2023.

On other hand, the imports of goods in May 2023 amounted to around QR9.6 billion, showing an increase of 9.5 percent compared to May 2022, and increase of 10.4 percent compared to April 2023.

PSA attributed the year on year (May 2023 vs. May 2022) decrease in total exports to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 17.3 billion in May 2023, i.e. a decrease of 38.2 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR 4.5 billion, a decrease by 20.8 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR 2 billion by 41.1 percent.

In May 2023, China was at the top of the countries of destination of Qatar's exports with close to QR4.6 billion, a share of 16.7 percent of total exports, followed by South Korea with almost QR3.6 billion and a share of 12.8 percent, and India with about QR 3.1 billion, a share of 11.1 percent.

The year on year (May 2023 vs. May 2022), the group of "Turbojets, Turbopropellers & Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities, with QR 0.6 billion, showing an increase of 104.7 percent.

In second place was "Motor Cars & Other Motor Vehicles for the Transport of Persons" with QR0.5 billion, an increase of 36 percent.

In the third place was "Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof" with QR0.4 billion, showing an increase of 36.2 percent.

In May 2023, United State of America was the leading country of origin of Qatar's imports with about QR1.8 billion, a share of 19.3 percent of the imports, followed by China with QR1.4 billion, a share of 14.6 percent, and India with QR0.5 billion, a share of 5.6 percent.