Qatar’s trade balance surplus jumped 120.1 percent year over year in May 2022, a report by the Planning and Statistics Authority on the preliminary figures of exports value of domestic goods, re-exports and imports said.
The total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 45.3 billion ($12.45bn), with an increase of 81.9 percent compared to May 2021, and a surge of 4.3 percent compared to April 2022.
The imports of goods in May 2022 amounted to around QR 8.8 billion, showing an increase of 5.5 percent compared to May 2021 and decrease of 5.6 percent compared to April 2022.
The foreign merchandize trade balance showed a surplus of QR 36.6 billion, i.e. an increase of QR 20.0 billion or 120.1 percent compared to May 2021, and an increase of QR 2.4 billion or 7.0 percent compared to April 2022.
The year-on-year increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 30.3 billion in May 2022.
It showed an increase of 116.2 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR 5.6 billion nearly, an increase by 39.5 percent, and an increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching 3.3 Billion 36.5 percent.
China was the top destination of Qatar’s exports with close to QR 7.0 billion, a share of 15.5 percent of total exports, followed by India with QR 5.4 billion and a share of 11.9 percent, United Kingdom with about QR 4.7 billion, a share of 10.3 percent.
China was the leading country of Qatar’s imports with about QR 1.3 billion, a share of 15.3 percent of the imports, followed by USA with QR 0.9 billion almost, a share of 10.8 percent, and India with QR 0.6 billion, a share of 6.7 percent.