Qatar Foreign Merchandise Trade Shows Surplus of QR 19.8 Billion in August

Doha: In August 2024, the State of Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 19.8 billion almost, i.e., a decrease of about QR 1.5 billion or 7.2% compared to August 2023, and a decrease by nearly QR 0.3 billion or 1.6% compared to July 2024. The total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 30.0 billion, showing a decrease of 4.6% compared to August 2023, and a decrease of 0.8% compared to July 2024, the National Planning Council said on Wednesday. On other hand, the imports of goods in August 2024 amounted to around QR 10.2 billion, 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 QR 17.1 billion (approxi mately) in August 2024, i.e. decrease of 3.0%, Petroleum oils and oils from bituminous minerals (crude) reaching QR 4.8 billion nearly, decrease by 29.5%, and a decrease in the Petroleum oils and oils from bituminous minerals (not crude) reaching 3.0 billion 5.9%. In August 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 3.6 billion and a share of 12.1%, and India with about QR 3.1 billion, 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 QR 0.69 billion, showing an increase of 37.0%. In second place was "Motor Cars and Other Motor Vehicles For The Transport Of Persons" with QR 0.69 billion, an increase of 43.4%. and in third place "Parts of Balloons Etc; Parts of Aircraft; Spacecraft Etc" with QR 0.3 billion, showing a decrease of 35.6%. In August 2024, United States of America was the leading country of origin of Qatars imports with about QR 1.42 billion, a share of 14.0% of the imports, followed by China with QR 1.41 billion almost, a share of 13.9%, and Italy with QR 0.9 billion, a share of 8.5%. Source: Qatar News Agency