Doha: Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR19.8bn in August this year which is almost a decrease of about QR1.5bn or 7.2% compared to August 2023, and a decrease by nearly QR0.3bn or 1.6% compared to July 2024, stated official data from National Planning Council.

The total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR30bn, showing a decrease of 4.6% compared to August 2023, and a decrease of 0.8% compared to July 2024.

On other hand, the imports of goods in August 2024 amounted to around QR10.2bn, showing an increase of 0.9% compared to August 2023. and increase by 0.8% compared to July 2024.

The year on year (August 2024 vs. August 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, i.e. decrease of 3.0%, Petroleum oils & oils from bituminous minerals (crude) reaching QR4.8bn nearly, decrease by 29.5%, and a decrease in the Petroleum oils and oils from bituminous minerals (not crude) reaching 3bn 5.9%.

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% of total exports, followed by South Korea with almost QR3.6bn and a share of 12.1%, and India with about QR3.1bn, a share of 10.2%.

Year on year (August 2024 vs. August 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%. In second place was “Motor Cars and Other Motor Vehicles For The Transport Of Persons” with QR0.69bn, an increase of 43.4%. and in third place “Parts of Balloons Etc; Parts of Aircraft; Spacecraft Etc” with QR0.3bn, showing a decrease of 35.6%.

In August 2024, United States of America was the leading country of origin of Qatars imports with about QR1.42bn, a share of 14.0% of the imports, followed by China with QR1.41bn almost, a share of 13.9%, and Italy with QR0.9bn, a share of 8.5%.

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