Doha, Qatar—Qatar’s merchandise trade balance recorded a surplus of QR 25.1 billion ($6.8 billion) in October this year, an increase of 18.5 percent year-on-year.
The trade balance, which is the difference between total exports and imports, however, decreased by 6 billion riyals, or 19.2 percent, compared to September 2022.
The Planning and Statistics Authority said that value of total Qatari exports (which includes exports of local origin and re-exports) during October amounted to approximately QR 38 billion, an increase of 26.3 percent, compared to the same period last year, and a decrease of 10.3 percent. compared to September.
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.
The exports of oil and other gaseous hydrocarbons increased by 35.2 percent to reach about 25.5 billion riyals, and that of petroleum oils and oils obtained from bituminous mineral raw materials to 5.4 billion riyals, or an increase of 33.2 percent.
The value of exports of oils obtained from non-crude bituminous mineral materials decreased to about 2.2 billion riyals, or 28.8 percent.
China was the topmost importer at QR 5.6 billion, or 14.8 percent of the total value of Qatari exports, followed by India, with a value of approximately QR 4.63 billion, or 12.2 percent of the total value of exports and South Korea, with a value of approximately QR 4.61 billion, or 12.1 percent.