DOHA: The foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR18.1bnin February 2024, a decrease of about QR4.8bn or 21.1 percent compared to February 2023, and an increase by nearly QR0.6bnor 3.4 percent compared to January 2024.
The Planning and Statistics Authority has released preliminary figures for the value of exports of domestic goods, re-exports, and imports for February 2024.
In February 2024, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR28.2bn, showing a decrease of 9.2 percent compared to February 2023, and a decrease of 8.8 percent compared to January 2024.
On the other hand, the imports of goods in February 2024 amounted to around QR10.1bn, showing an increase of 24.6 percent compared to February 2023. and a decrease of 24.8 percent compared to January 2024.The year-on-year (February 2024 vs. February 2023) decrease in total exports was mainly due to lower exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR17.6bn(approximately) in February 2024, adecrease of 10.4 percent, petroleum oils & oils from bituminous minerals (crude) reaching QR4.5bnnearly, decrease by 7.0 percent, and a 33.1 percent decrease in the petroleum oils & oils from bituminous minerals (not crude) reaching 1.6 billion.
In February 2024, China was at the top of the countries of destination of Qatars exports with close to QR7.2bn, a share of 25.5 percent of total exports, followed by South Korea with almost QR4.5bnand a share of 16.1 percent, and India with about QR3.2bn, a share of 11.2 percent. (Table2, Graph1) Year on year (February 2024 vs. February 2023), the group Motor Cars & Other Motor Vehicles for the Transport of Persons was at the top of the imported group of commodities, with QR0.4bn, showing an increase of 28.4 per cent. In second place was Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereofwith QR0.35bn, an increase of 26.7 percent, and in third place Parts of Aeroplanes or Helicopterswith QR0.29bn, showing an increase of 37.4 percent.
In February 2024, China was the leading country of origin of Qatars imports with about QR1.5bn, a share of 14.5 percent of the imports, followed by the United State of America with QR1.3bnalmost, a share of 12.9 percent, and United Kingdom with QR0.8bn, a share of 8.2 percent.
