Qatar’s Trade Balance Records QR 20.1 Billion Surplus in July

Doha: Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 20.1 billion in July 2024, an increase of about QR 0.5 billion, or 2.5%, compared to July 2023, and an increase by nearly QR 0.6 billion, or 2.9%, compared to June 2024. According to the National Planning Council, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 30.2 billion in July 2024, showing an increase of 3.9% compared to July 2023, and an increase of 2.5% compared to June 2024. On other hand, the imports of goods in July 2024 amounted to around QR 10.1 billion, showing an increase of 6.8% compared to July 2023, and an increase by 1.8% compared to June 2024. The year on year (July 2024 vs. July 2023) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 17.6 billion (approximately) in July 2024, an increase of 3.7%, Petroleum oils and oils from bituminous minerals (crude) reaching QR 4.9 billion, a decrease by 8.3%, and a decrease in the Petroleum oils and oils from bituminous minerals (not crude) reaching 2.6 billion 5.2%. In July 2024, China was at the top of the countries of destination of Qatars exports with close to QR 5.9 billion, a share of 19.6% of total exports, followed by South Korea with almost QR 3.8 billion and a share of 12.6%, and India with about QR 3.7 billion, a share of 12.2%. Year on year (July 2024 vs. July 2023), the group "Turbojets, Turbopropellers and Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities, with QR 0.6 billion, showing a decrease of 31.4%. In second place was "Parts of Balloons Etc; Parts of Aircraft; Spacecraft Etc" with QR 0.27 billion, a decrease by 41.9%, and in third place "Medicaments Mixed or not, In Dosage Etc. Form" with QR 0.26 billion, showing an increase of 34.4%. In July 2024, China was the leading country of origin of Qatars imports with about QR 1.5 billion, a share of 14.8% of the imports, followed by United States of America with QR 1.4 billion almost, a share of 14.3%, and Japan with QR 0.7 billion, a share of 6.5%. Source: Qatar News Agency