Doha, Qatar: The foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR17.5bn in January 2024, almost a decrease of about QR6.8bn or 28.1 percent compared to January 2023, and decrease by nearly QR1.3bn or 6.8 percent compared to December 2023.
The Planning and Statistics Authority released today, that the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR30.9bn, showing a decrease of 9.1 percent compared to January 2023, and an increase of 5.7 percent compared to December 2023. On other hand, the imports of goods in January 2024 amounted to around QR13.4bn, showing an increase of 38.3 percent compared to January 2023. and increase of 28.0 percent compared to December 2023.
The year on year (January 2024 vs. January 2023) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR19.7bn (approximately) in January 2024, i.e. decrease of 10.8 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR5bn nearly, decrease by 0.2 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR2.1bn.
In January 2024, China was at the top of the countries of destination of Qatar’s exports with close to QR7.5bn, a share of 24.2 percent of total exports, followed by South Korea with almost QR4.2bn and a share of 13.5 percent, and India with about QR4.1bn, a share of 13.1 percent.
Year on year (January 2024 vs. January 2023), the group “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” was at the top of the imported group of commodities, with QR0.42bn, showing decrease of 7.2 percent.
In second place was “Motor Cars & Other Motor Vehicles for the Transport of Persons” with QR0.41bn, decrease by 6.0 percent, and in third place “Parts of Aeroplanes or Helicopters” with QR0.3bn, showing an increase of 46.1 percent. In January 2024, China was the leading country of origin of Qatar’s imports with about QR1.8bn, a share of 13.2 percent of the imports, followed by Oman with QR1.3bn almost, a share of 9.3 percent, and United State of America with QR1.0bn, a share of 7.1 percent.
