The Planning and Statistics Authority has released preliminary figures of the value of exports of domestic goods, re-exports, and imports for May 2023. A brief analysis of the data is given below:
In May 2023, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 27.8 billion, showing a decrease of 35.3% compared May 2022, and decrease of 9.4% compared to April 2023.
On other hand, the imports of goods in May 2023 amounted to around QR 9.6 billion, showing an increase of 9.5% compared to May 2022. and increase of 10.4% compared to April 2023.
In May 2023, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 18.2 billion almost, i.e., a decrease of about QR 16.0 billion or 46.8% compared to May 2022, and decrease by nearly QR 3.8 billion or 17.2% compared to April 2023.
The year on year (May 2023 vs. Revised data of May 2022) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 17.3 billion (approximately) in May 2023, i.e. decrease of 38.2%, Petroleum oils & oils from bituminous minerals (crude) reaching QR 4.5 billion nearly, decrease by 20.8%, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2.0 Billion 41.1%.
In May 2023, China was at the top of the countries of destination of Qatar’s exports with close to QR 4.6 billion, a share of 16.7% of total exports, followed by South Korea with almost QR 3.6 billion and a share of 12.8%, and India with about QR 3.1 billion, a share of 11.1%.
The year on year (May 2023 vs. Revised data of May 2022), the group of "Turbojets, Turbopropellers & Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities, with QR 0.6 billion, showing an increase of 104.7%. In second place was "Motor Cars & Other Motor Vehicles for The Transport of Persons” with QR 0.5 billion, increase by 36.0%, and in third place “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR 0.4 billion, showing increase of 36.2%.
In May 2023, United State of America was the leading country of origin of Qatar’s imports with about QR 1.8 billion, a share of 19.3% of the imports, followed by China with QR 1.4 billion almost, a share of 14.6%, and India with QR 0.5 billion, a share of 5.6%.
