Doha, Qatar – Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 18.7 billion ($5.13 billion), a decrease of about QR 9.5 billion, or 33.7 percent, compared to December 2022.
The trade balance showed an increase by nearly QR 2.0 billion, or 12.0 percent, compared to November 2023.
According to figures released by the Planning and Statistics Authority on Monday, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 29.2 billion, showing a decrease of 23.7 percent compared December 2022, and an increase of 10.2 percent compared to November 2023.
On other hand, the imports of goods in December 2023 amounted to around QR 10.5 billion, showing an increase of 4.2 percent compared to December 2022, and and increase of 7.0 percent compared to November 2023.
The year on year (December 2023 vs. December 2022) decrease in total exports was mainly due to lower exports of Petroleum Gases and Other Gaseous Hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 18.1 billion (approximately) in December 2023, a decrease of 31.1 percent; Petroleum Oils & Oils from Bituminous Minerals (crude) reaching nearly QR 4.8 billion, a decrease by 3.4 percent; and a decrease in the Petroleum Oils & Oils from Bituminous Minerals (not crude) reaching 2.2 billion, or 6.1 percent.
In December 2023, China was at the top of the countries of destination of Qatars exports with close to QR 5.8 billion, a share of 19.7 percent of total exports, followed by India with almost QR 4.5 billion and a share of 15.5 percent, and South Korea with about QR 2.9 billion, a share of 9.8 percent.
The year on year (December 2023 vs. December 2022), the group of “Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR 1.0 billion, showing an increase of 12.3 percent. In second place was ” Motor Cars & Other Motor Vehicles for the Transport of Persons” with QR 0.5 billion, increase by 8.9 percent, and in third place “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR 0.4 billion, showing an increase of 28.1 percent.
In December 2023, China was the leading country of origin of Qatar’s imports with about QR 1.50 billion, a share of 14.3 percent of the imports, followed by United State of America with QR 1.45 billion almost, a share of 13.8 percent, and Italy with QR 1.0 billion, a share of 9.6 percent. (QNA)