Qatar’s trade balance surplus reaches QR17.4bn in April 2024

Doha, Qatar: Qatar s merchandise trade balance, which represents the discrepancy between total exports and imports, showed a surplus of QR17.4bn in Ap...

Doha, Qatar: Qatar’s merchandise trade balance, which represents the discrepancy between total exports and imports, showed a surplus of QR17.4bn in April 2024, a decrease of about QR4.6bn or 20.8 percent compared to April 2023, and a decrease by roughly QR0.2bn or 1 percent compared to March 2024, according to figures released by National Planning Council.

The total exports of goods (including exports of domestic origin and re-exports) amounted to approximately QR27.5bn, showing a decrease of 10.5 percent compared to April 2023, and decrease of 3.6 percent compared to March 2024.

The imports of goods in April 2024 amounted to around QR10bn, showing a surge of 15.6 percent compared to April 2023. and a decrease of 7.8 percent compared to March 2024.

In the comparison between April 2024 and  April 2023, the data showed a decrease in exports chiefly Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching roughly QR15.8bn by 15 percent with the value of petroleum oils and oils obtained from raw continental mineral materials decreasing to roughly QR4.9bn by 1.8 percent, while the value of exports of petroleum oils and oils obtained from non-raw continental mineral materials decreased to approximately QR2.3bn, or 10.6 percent.

In terms of exports according to the main destination countries, China ranked first among the destination countries for Qatars exports during April 2024, with a value of roughly QR5.2bn, or 18.9 percent, of the total value of Qatari exports, followed by South Korea, with a value of approximately QR4.2bn, or 15.4 percent of the total value of exports, then India, with a value of nearly QR3bn or 10.8 percent.