Surplus of Monthly Trade Balance Increase 6.7% in November

Doha, December 28 (QNA) – Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 26.2 billion in November 2022, an increase of about QR 1.7 billion or 6.7% compared to November 2021, and increase by nearly QR 1.1 billion or 4.3% compared to October 2022.

According to data issued by the Planning and Statistics Authority today, Qatar’s total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 37.1 billion in November 2022, showing an increase of 8.2% compared to November 2021, and decrease of 2.4% compared to October 2022.

On other hand, the imports of goods in November 2022 amounted to around QR 10.9 billion, showing an increase of 11.7% compared to November 2021. and decrease of 15.5% compared to October 2022.

The year on year (November 2022 vs. November 2021) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 24.7 billion (approximately) in November 2022, an increase of 10.3%; Petroleum oils and oils from bituminous minerals (crude) reaching QR 5.2 billion nearly, increase by 28.3%; and decrease in the Petroleum oils and oils from bituminous minerals (not crude) reaching 2.7 billion at 5.9%.

In November 2022, China was at the top of the countries of destination of Qatars exports with close to QR 7.0 billion, a share of 18.9% of total exports, followed by India with almost QR 4.3 billion and a share of 11.5%, South Korea with about QR 4.0 billion, a share of 10.9%.

The year on year (November 2022 vs. November 2021), the group of “Turbojets, Turbopropellers and Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR 700 million, showing an increase of 69.1%. In second place was “Motor Cars and Other Motor Vehicles for The Transport of Persons” with QR 400 million, showing an increase of 39.4%, and in third place was “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR 380 million, an increase of 15.8%.

In November 2022, United State of America was the leading country of origin of Qatars imports with about QR 2.0 billion, a share of 18.5% of the imports, followed by China with QR 1.6 billion almost, a share of 15.0%, and India with QR 0.6 billion, a share of 5.9%. (QNA)