Qatar’s foreign merchandise trade balance showed a QR21.3bn ($5.9bn) surplus in March 2023.
The figure, which represents the difference between total exports and imports, showed a decrease of about QR5.2bn or 19.6 per cent compared to March 2022, and a decrease of nearly QR1.6bn or 7.2 per cent compared to the month before.
The data of the Planning and Statistics Authority showed that the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR30.9bn ($8.5bn), showing a decrease of 15 per cent compared to March 2022, and decrease of 0.6 per cent compared to February 2023.
Qatar trade surplus
On other hand, the imports of goods in March 2023 amounted to around QR9.6bn ($2.6bn), showing a decrease of 4.6 per cent compared to March 2022. and increase of 18.1 per cent compared to February 2023.
The year on year decrease in total exports was mainly due to lower exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 19bn (approximately) in March 2023,.
In March 2023, China was at the top of the countries of destination of Qatar’s exports, with close to QR6.4bn, a share of 20.7 per cent of total exports, followed by South Korea with almost QR4.9bn and a share of 15.8 per cent, and India with about QR3.6bn, a share of 11.6 per cent.
In March 2023, the US was the leading country of origin of Qatar’s imports with about QR1.8bn, a share of 19.3 per cent of the imports, followed by China with QR1.2bn almost, a share of 12.1 per cent, and India with QR600m, a share of 6.3 per cent.
Follow us on
