Tuesday, April 23, 2024
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Tuesday, April 23, 2024
Today's News

Qatar posts $5.8bln trade surplus in March

Qatar posts $5.8bln trade surplus in March

The imports of goods in March 2023 amounted to around $2.6 billion

The international goods trade balance, which stands for the distinction in between total exports and imports, showed a surplus of QR21.3 billion in March 2023, a decrease of about QR5.2 billion or 19.6 percent compared to March 2022, and reduction by nearly QR 1.6 billion or 7.2 percent contrasted to February 2023.

The information of the Preparation as well as Data Authority revealed that the overall exports of products (including exports of items of residential origin and re-exports) amounted to around QR 30.9 billion, revealing a reduction of 15.5% contrasted to March 2022, and decline of 0.6% compared to February 2023.

On other hand, the imports of goods in March 2023 totaled up to around QR 9.6 billion, showing a reduction of 4.6% compared to March 2022. and rise of 18.1% compared to February 2023.

In March 2023, the international merchandise profession equilibrium, which stands for the difference in between complete exports and imports, revealed a surplus of QR 21.3 billion nearly, i.e., a decrease of regarding QR 5.2 billion or 19.6% contrasted to March 2022, and decline by almost QR 1.6 billion or 7.2% compared to February 2023.

The year on year (March 2023 vs. March 2022) reduction in total exports was primarily because of lower exports of Petroleum gases and other aeriform hydrocarbons (LNG, condensates, lp, butane, etc) reaching QR 19.0 billion (around) in March 2023, i.e. a decline of 5.4%, Petroleum oils & oils from bituminous minerals (crude) getting to QR 4.9 billion virtually, decrease by 26.5%, and lower in the Oil oils & oils from bituminous minerals (not crude) reaching 2.5 Billion 32.4%.

In March 2023, China was at the top of the countries of destination of Qatar’s exports with near QR 6.4 billion, a share of 20.7% of complete exports, followed by South Korea with virtually QR 4.9 billion and a share of 15.8%, and also India with about QR 3.6 billion, a share of 11.6%.

The year on year (March 2023 vs. March 2022), the team of “Turbojets, Turbopropellers & Other Gas Turbines; Parts Thereof” went to the top of the imported team of assets, with QR 0.8 billion, revealing a rise of 31.5%. In second location was “Motor Cars & Other Electric Motor Autos for The Transport of People” with QR 0.4 billion, rise of 0.7%, and also in 3rd location “Articles of Precious Jewelry & Parts Thereof, of Rare-earth Element or of Metal Clad” with QR 0.3 billion, showing an increase of 4.5%.

In March 2023, USA of America was the top native land of Qatar’s imports with around QR 1.8 billion, a share of 19.3% of the imports, followed by China with QR 1.2 billion practically, a share of 12.1%, and India with QR 0.6 billion, a share of 6.3%.

Last Updated: 28 April 2023

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