DOHA: In August 2024, Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR19.8bn, a decrease of about QR1.5bn or 7.2 percentcompared to August 2023, and a decrease by nearly QR0.3 billion or 1.6 percent compared to July 2024.
The total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR30.0bn, showing a decrease of 4.6 percentcompared to August 2023, and a decrease of 0.8 percent compared to July 2024, the National Planning Council said on Wednesday.
On other hand, the imports of goods in August 2024 amounted to around QR10.2bn, showing an increase of 0.9 percent compared to August 2023. and increase by 0.8 percent compared to July 2024.
The year on year (August 2024 vsAugust 2023) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR17.1bn (approximately) in August 2024, adecrease of 3.0 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR4.8bn, a decrease of 29.5 percent, and a decrease in the Petroleum oils and oils from bituminous minerals (not crude) reaching QR3.0bn billion, a decrease of5.9 percent.
In August 2024, China was at the top of the countries of destination of Qatars exports with close to QR5.9bn, a share of 19.6 percent of total exports, followed by South Korea with almost QR3.6bn and a share of 12.1 percent, and India with about QR3.1bn, a share of 10.2 percent.
Year on year (August 2024 vsAugust 2023), the group 'Turbojets, Turbopropellers and Other Gas Turbines; Parts Thereof'was at the top of the imported group of commodities, with QR0.69bn, showing an increase of 37.0 percent. In second place was 'Motor Cars and Other Motor Vehicles For The Transport Of Persons'with QR0.69bn, an increase of 43.4 percent. In third place was 'Parts of Balloons Etc; Parts of Aircraft; Spacecraft Etc'with QR0.3bn, showing a decrease of 35.6 percent.
In August 2024, United States of America was the leading country of origin of Qatar's imports with about QR1.42bn, a share of 14.0 percent of the imports, followed by China with QR1.41bn almost, a share of 13.9 percent, and Italy with QR0.9bn, a share of 8.5 percent.