The Planning and Statistics Authority has released preliminary figures of the value of exports of domestic goods, re-exports, and imports for October 2023. A brief analysis of the data is given below:
In October 2023, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 29.1 billion, showing a decrease of 23.5% compared October 2022, and decrease of 0.7% compared to September 2023.
On other hand, the imports of goods in October 2023 amounted to around QR 10.1 billion, showing a decrease of 22.1% compared to October 2022. and increase of 6.9% compared to September 2023.
In October 2023, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 19.0 billion almost, i.e., a decrease of about QR 6.1 billion or 24.2% compared to October 2022, and decrease by nearly QR 0.8 billion or 4.2% compared to September 2023.
The year on year (October 2023 vs. October 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 16.4 billion (approximately) in October 2023, i.e. decrease of 35.7%, Petroleum oils & oils from bituminous minerals (crude) reaching QR 6.4 billion nearly, increase by 18.1%, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2.4 billion 8.7%.
In October 2023, China was at the top of the countries of destination of Qatar’s exports with close to QR 6.1 billion, a share of 21.0% of total exports, followed by India with almost QR 3.5 billion and a share of 12.1%, and South Korea with about QR 2.5 billion, a share of 8.6%.
The year on year (October 2023 vs. October 2022), the group of "Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities, with QR 0.6 billion, showing an increase of 19.2%. In second place was " Motor Cars & Other Motor Vehicles for the Transport of Persons” with QR 0.5 billion, increase by 2.4%, and in third place “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR 0.4 billion, showing a decrease of 15.7%.
In October 2023, China was the leading country of origin of Qatar’s imports with about QR 1.7 billion, a share of 17.3% of the imports, followed by United State of America with QR 1.4 billion almost, a share of 14.1%, and India with QR 0.7 billion, a share of 6.6%.
