In June, Qatar’s trade surplus decreased slightly from the previous month by 4.4 percent, falling to 17.4 billion Qatari riyals ($4.77 billion).
According to information made public by the nation’s Planning and Statistics Authority, the trade surplus plummeted by 42.3% compared to June of previous year.
Exports of goods decreased by 3.5 percent from the previous month to 26.8 billion riyals. They also decreased by 32% year over year compared to June 2022.
Petroleum gases and other gaseous hydrocarbons saw a 29.7 percent decline, which was the main cause of the overall export decline.
According to the authority’s data, China accounted for 20.1 percent of Qatar’s exports in June 2023, or 5.4 billion riyals.
South Korea came in second, taking in 3.2 billion riyals, or 11.9% of the total exports of the nation. India contributed 11.8 percent of Qatar’s 3.2 billion riyal exports, or exports.
On an annual basis, Qatar’s imports increased by 1.1 percent to 9.4 billion riyals. This was a drop of 1.8% from the previous month.
In June, the US led the list of countries from which Qatar bought goods with a share of 19.5%, or almost 1.8 billion riyals.
Following Germany with 500 million riyals, or 5.6 percent of Qatar’s total imports, China came in second with roughly 1.3 billion riyals, or 14.1 percent.
Turbo jets, propellers, and other gas turbines topped the list of imported goods on an annual basis, accounting for 500 million riyals, a 37.2 percent increase.
Motor vehicles and other people-moving vehicles came in second to the gas turbine segment, with a value of 480 million riyals, a 44.5 percent rise. The value of the third commodity, medications made up of unblended or blended items used in curative or preventive medicine, increased by 34.7% and was worth 300 million riyals.—AN