Doha: The State of Qatar’s June 2024 foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 19.6 billion almost, i.e., an increase of about QR 2.2 billion or 12.4 percent compared to June 2023, and an increase by nearly QR 2.0 billion or 11.7 percent compared to May 2024.
According to the State of Qatar’s Monthly Trade Balance for June 2024, published by the National Planning Council, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 29.5 billion, showing an increase of 9.9 percent compared to June 2023, and an increase of 5.1 percent compared to May 2024.
On other hand, the imports of goods in June 2024 amounted to around QR 9.9 billion, showing an increase of 5.1 percent compared to June 2023, and an decrease by 5.8 percent compared to May 2024.
The year on year (June 2024 vs. June 2023) increase in total exports was mainly due to higher exports of Petroleum gases and other
gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 17.9 billion (approximately) in June 2024, i.e. increase of 8.8 percent, Petroleum oils and oils from bituminous minerals (crude) reaching QR 5.1 billion nearly, increase by 6.0 percent, and a decrease in the Petroleum oils and oils from bituminous minerals (not crude) reaching 2.2 billion 0.2 percent.
In June 2024, South Korea was at the top of the countries of destination of Qatars exports with close to QR 4.9 billion, a share of 16.5 percent of total exports, followed by China with almost QR 3.6 billion and a share of 12.4 percent, and India with about QR 3.3 billion, a share of 11.2 percent.
Year on year (June 2024 vs. June 2023), the group “Motor Cars and Other Motor Vehicles for the Transport of Persons” was at the top of the imported group of commodities, with QR 0.6 billion, showing an increase of 25.4 percent. In second place was “Turbojets, Turbopropellers and Other Gas Turbines; Parts Thereof” with QR 0.5 billion, an incre
ase of 2.1 percent. In third place “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR 0.3 billion, showing an increase of 18.7 percent.
In June 2024, China was the leading country of origin of Qatars imports with about QR 1.6 billion, a share of 16.4 percent of the imports, followed by United States of America with QR 1.3 billion almost, a share of 13.4 percent, and Italy with QR 0.7 billion, a share of 6.6 percent.
Source: Qatar News Agency