Qatar’s Trade Balance in May 2024 Reaches QR 17.6 Billion

Doha, June 28 (QNA) – The State of Qatar’s trade balance for May 2024, which represents the difference between total exports and imports, showed a surplus of QR 17.6 billion almost, a decrease of about QR 0.6 billion or 3.5 percent compared to May 2023, and an increase by nearly QR 0.2 billion or 0.9 percent compared to April 2024.

In a statement today, the National Planning Council said that the total exports of goods (including exports of goods of domestic origin and re-exports)
amounted to around QR 28.1 billion, showing an increase of 1.0 percent compared to May 2023, and an increase of 2.3 percent compared to April 2024. Imports of goods in May 2024 amounted to around QR 10.5 billion, showing an increase of 9.6 percent compared to May 2023. and increase by 4.6 percent compared to April 2024.

The year on year (May 2024 vs. May 2023) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 17.1 billion (approximately) in May 2024, i.e. decrease of 0.9 percent, Petroleum oils & oils
from bituminous minerals (crude) reaching QR 4.2 billion nearly, decrease by 6.3 percent, and an increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2.0 billion 3.6 percent.

China was at the top of the countries of destination of Qatars exports with close to QR 4.8 billion, a share of 16.9 percent of total exports, followed by South Korea with almost QR 3.7 billion and a share of 13.0 percent, and India with about QR 3.1 billion, a share of 11.1 percent. Year on year (May 2024 vs. May 2023), the group “Motor Cars & Other Motor Vehicles for the Transport of Persons” was at the top of the imported group of commodities, with QR 0.8 billion, showing an increase of 72.3 percent. In second place was “Parts of Aeroplanes or Helicopters” with QR 0.4 billion, increase by 50.0 percent. and in third place “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR 0.3 billion, showing a decrease of 20.0 percent.

In May 2024, China was the leading country of origin of Qatars imports with about QR 1.6 billion, a share of 15.0 percent of the imports, followed by United States of America with QR 1.3 billion almost, a share of 12.6 percent, and Japan with QR 0.7 billion, a share of 7.0 percent. (QNA)