The merchandise trade balance, which represents the difference between total exports and imports during last October, achieved a surplus of 19 billion riyals, recording a decrease of 6.1 billion riyals, or 24.2 percent, compared to data for October of the previous year 2022, and a decline of approximately 0.8 billion riyals, i.e. A rate of 4.2 percent compared to September 2023.
Data from the Planning and Statistics Authority reported today that the total value of Qatari exports (which includes exports of local origin and re-exports) is approximately 29.1 billion riyals, a decrease of 23.5 percent, compared to data for October 2022, and a decrease of 0.7 percent compared to September 2023.
On the other hand, the value of merchandise imports decreased during the month of October 2023, reaching about 10.1 billion riyals, a decrease of 22.1 percent compared to data for October 2022, and an increase of 6.9 percent compared to September 2023.
The Planning and Statistics Authority attributed the decline in the value of merchandise exports last October compared to the same month in 2022, to the decline in the value of exports of “oil gases and other gaseous hydrocarbons,” which represent (liquefied natural gas, condensates, propane, butane, etc..), reaching about 16.4 billion riyals. By 35.7 percent, the value of “petroleum oils and oils obtained from raw continental mineral materials” increased to approximately 6.4 billion Qatari riyals, by 18.1 percent. The value of exports of “petroleum oils and oils obtained from non-raw continental mineral materials” increased to reach approximately 2.4 billion Qatari riyals, by 8.7 percent.
At the level of /exports by main destination countries/, China ranked first among destination countries for Qatar’s exports during the month of October 2023, with a value of approximately 6.1 billion riyals, or 21 percent of the total value of Qatari exports, followed by India, with a value of approximately 3.5 billion riyals, or 21 percent of the total value of Qatari exports. 12.1 percent of the total value of exports, then South Korea with a value of approximately 2.5 billion riyals, or 8.6 percent.
Comparing the month of October 2023 with data for October 2022, the group of “jet turbines, propellant turbines, other gas turbines and their parts” came at the top of the list of merchandise imports, with a value of 0.6 billion riyals, an increase of 19.2 percent, followed by “cars and other primarily designed automobile vehicles for transporting people” with a value of 0.5 billion riyals, an increase of 2.4 percent, and a group of “electrical equipment for telephone or telegraph, including network transmitting devices and their parts,” with a value of 0.4 billion riyals, a decrease of 15.7 percent.
As for (imports by main countries of origin), China ranked first among the countries of origin for imports from the State of Qatar during the month of October 2023, with a value of approximately 1.7 billion riyals, or 17.3 percent of the total value of merchandise imports, then the United States of America, with a value of 1.4 billion riyals, or 14.1 percent. percent, followed by India with a value of 0.7 billion riyals, or 6.6 percent.