Qatar’s merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR24.3 billion in January 2023, a decrease of about QR1.6 billion or 6.2% compared to January 2022, and decrease by nearly QR3.9 billion or 14% compared to December 2022.
According to data issued by the Planning and Statistics Authority (PSA) on Tuesday, Qatar’s total exports (including exports of goods of domestic origin and re-exports) amounted to around QR 34 billion, showing a decrease of 4.4% compared to January 2022, and decrease of 11.3% compared to December 2022.
On other hand, the imports of goods in January amounted to around QR 9.7 billion, showing an increase of 0.5% compared to January 2022, and decrease of 3.7% compared to December 2022.
The year on year (January 2023 vs. January 2022) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 22.1 billion (approximately), an increase of 0.3%; Petroleum oils and oils from bituminous minerals (crude) reaching QR 5 billion nearly, decrease by 10.4%; and increase in the Petroleum oils and oils from bituminous minerals (not crude) reaching 3.2 billion at 9.6%.
In January 2023, China was at the top of the countries of destination of Qatar’s exports with close to QR 6.3 billion, a share of 18.4% of total exports, followed by India with almost QR 4.3 billion and a share of 12.6%, South Korea with about QR 3.6 billion, a share of 10.6%.
The group of “Turbojets, Turbopropellers and Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR 1 billion, showing an increase of 72%. In the second place was “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR 500 million, an increase of 29.5%, and in the third place was “Motor Cars and Other Motor Vehicles for the Transport of Persons” with QR 400 million, showing an increase of 16.8%.
In January 2023, China was the leading country of origin of Qatar’s imports with about QR 1.5 billion, a share of 15.8% of the imports, followed by the United State of America with QR 1.1 billion almost, a share of 10.8%, and Italy with QR 1 billion, a share of 10.1%.