The Planning and Statistics Authority has released preliminary figures of the value of exports of domestic goods, re-exports, and imports for February 2023. A brief analysis of the data is given below:
In February 2023, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 31.0 billion, showing a decrease of 2.2% compared to February 2022, and decrease of 8.7% compared to January 2023.
On other hand, the imports of goods in February 2023 amounted to around QR 8.1 billion, showing a decrease of 14.3% compared to February 2022. and decrease of 16.4% compared to January 2023.
In February 2023, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 22.9 billion almost, i.e., an increase of about QR 0.7 billion or 2.9% compared to February 2022, and decrease by nearly QR 1.4 billion or 5.7% compared to January 2023.
The year on year (February 2023 vs. February 2022) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 19.6 billion (approximately) in February 2023, i.e. an increase of 3.7%, Petroleum oils & oils from bituminous minerals (crude) reaching QR 4.8 billion nearly, decrease by 11.9%, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2.4 Billion 18.5%.
In February 2023, China was at the top of the countries of destination of Qatar’s exports with close to QR 6.0 billion, a share of 19.5% of total exports, followed by South Korea with almost QR 5.0 billion and a share of 16.3%, and India with about QR 4.0 billion, a share of 12.8%.
The year on year (February 2023 vs. February 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 39.5%. In second place was "Motor Cars & Other Motor Vehicles for The Transport of Persons” with QR 0.29 billion, decrease of 40.1%, and in third place “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR 0.27 billion, showing an increase of 19.7%.
In February 2023, China was the leading country of origin of Qatar’s imports with about QR 1.3 billion, a share of 15.6% of the imports, followed by United State of America with QR 1.1 billion almost, a share of 13.1%, and India with QR 0.6 billion, a share of 6.9%.
