(MENAFN- The Peninsula)
The Peninsula
Doha: Qatar's foreign merchandise trade balance for May 2024 which represents the difference between total exports and imports showed a surplus of QR17.6bn.
This shows a decrease of about QR0.6bn or 3.5 percent on month-on-month (m-o-m) basis while an increase of nearly QR0.2bn or 0.9 percent on year-on-year (y-o-y) basis, according to National Planning Council data.
The total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR28.1bn, showing an increase of 1.0 percent compared to May 2023, and an increase of 2.3 percent compared to April 2024.
On the other hand imports of goods in May 2024 amounted to around QR10.5bn 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 decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR17.1bn (approximately) in May 2024, that is decrease of 0.9 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR4.2bn nearly decrease by 6.3 percent and an increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2bn 3.6 percent.
China was at the top of the countries of destination of Qatar's exports with close to QR4.8bn, a share of 16.9 percent of total exports, followed by South Korea with almost QR3.7bn and a share of 13 percent, and India with about QR3.1bn, a share of 11.1 percent.
Year on year (May 2024 versus 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 QR0.8bn, showing an increase of 72.3 percent.
In second place was "Parts of Aeroplanes or Helicopters" with QR0.4bn, increase by 50 percent and in third place "Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets; Parts Thereof" with QR0.3bn, showing a decrease of 20 percent.
China was the leading country of origin of Qatar's imports with about QR1.6bn, a share of 15 percent of the imports, followed by United States of America with QR1.3bn almost, a share of 12.6 percent, and Japan with QR0.7bn, a share of 7 percent, in May 2024.
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