Qatar’s trade surplus for June 2023 stands at QAR17.4bn

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Qatar’s foreign merchandise trade balance — the difference between total exports and imports — showed a surplus of QAR17.4bn in June 2023, according to the latest data by the Planning and Statistics Authority (PSA).

It was a decrease of about QAR12.7bn or 42.3% compared to June 2022 and a decrease of nearly QR0.8bn or 4.4% compared to May 2023.

In its report on foreign trade for June 2023, the PSA said Qatar’s total exports of goods (including those of domestic origin and re-exports) amounted to around QAR26.8bn, showing a decrease of 32% compared to June 2022, and decrease of 3.5% compared to May 2023.

On the other hand, June’s import of goods amounted to around QAR9.4bn, showing an increase of 1.1% compared to June 2022. It was also a decrease of 1.8% compared to May 2023.

The year-on-year decrease in exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane), reaching QAR16.4bn in June 2023 (decrease of 29.7%).

The sale of petroleum oils and oils from bituminous minerals (crude) tanked by 26.4% to QAR4.8bn while the sale of non-crude oil slipped by 46.9% to QAR2.2bn.

In June, China received 20.1% of Qatar’s total exports, worth QAR5.4bn, followed by South Korea (QAR3.2bn, 11.9%), and India (QAR3.2bn, 11.8%).

The year-on-year import data showed ‘Turbojets, turbopropellers and Other Gas Turbines or parts thereof’ as the top-imported group of commodities, amounting to QAR0.50bn (an increase of 37.2%).

In second place was ‘Motor Cars & Other Motor Vehicles for The Transport of Persons’ with QAR0.48bn (+44.5%). ‘Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses’ came in third with QAR0.3bn, an increase of 34.7%.

In June, the USA was the leading country of origin of Qatar’s imports with about QAR1.8bn (19.5% of total imports), followed by China (QR1.3bn, 14.1%) and Germany (QR0.5bn, 5.6%).

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