(MENAFN- The Peninsula) The Peninsula
Doha: Foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 25.1 bn almost, i.e. an increase of about QR 3.9bn or 18.5% in October 2022, compared to the corresponding month of 2021 and decrease by nearly QR 6bn or 19.2 percent compared to September 2022 according to the Planning and Statistics Authority's preliminary figures of the value of exports of domestic goods, re-exports and imports for October 2022.
In October 2022, the exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 38.0bn, showing an increase of 26.3% compared to October 2021, and decrease of 10.3% compared to September 2022.
On other hand, the imports of goods in October 2022 amounted to around QR 12.9bn, showing an increase of 45.0 percent compared to October 2021. and increase of 14.3 percent compared to September 2022.
The year on year (October 2022 vs. October 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 25.5bn (approximately) in October 2022, i.e. an increase of 35.2 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR 5.4bn nearly, increase by 33.2 percent and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2.2bn 28.8%.
In October 2022, China was at the top of the countries of destination of Qatar's exports with close to QR 5.6bn, a share of 14.8% of total exports, followed by India with almost QR 4.63bn and a share of 12.2 percent, South Korea with about QR 4.61bn, a share of 12.1percent.
The year on year (October 2022 vs. October 2021), the group of“Turbojets, Turbopropellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR 0.5bn, showing an decrease of 23.7percent. In second place was“Motor Cars and Other Motor Vehicles for The Transport of Persons” with QR 0.47 billion, showing an increase of 54.3percent, and in third place was“ Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof.“ with QR 0.45 billion, increase of 61.6 percent,.
In October 2022, United State of America was the leading country of origin of Qatar's imports with about QR 2.2bn, a share of 17.0percent,of the imports, followed by China with QR 2.1bn almost, a share of 16.2percent and Germany with QR 0.7bn, a share of 5.5percent.