Qatar's foreign merchandise trade surplus hits QAR 17.7B
01/12/24
Qatar's foreign merchandise trade surplus for September 2024 stood at QAR 17.7 billion according to preliminary data from the National Planning Council.
In September 2024, Qatar’s total exports of goods, including both domestic exports and re-exports, amounted to QAR 27.6 billion. This marks a 7.9% decrease compared to August 20245 and a 7% year-on-year drop from September 2023.
The reduction in export value was primarily driven by lower exports of petroleum products. Exports of petroleum gases and other gaseous hydrocarbons, including LNG, condensates, propane, and butane, totaled approximately QAR 16.7 billion, representing a slight decrease of 0.1%. Additionally, exports of petroleum oils and oils from bituminous minerals (crude) fell by 31.3% to around QAR 3.7 billion, while petroleum oils and oils from bituminous minerals (non-crude) decreased by 21.5%, reaching approximately QAR 2.5 billion.
Qatar’s imports in September 2024 amounted to approximately QAR 9.9 billion, reflecting a 4.9% year-on-year increase compared to September 2023. The leading categories of imports included "Parts of Balloons, Aircraft, and Spacecraft," which saw a 10.6% decline to QAR 0.4 billion, "Turbojets and Turbopropellers," which decreased by 52.0% to QAR 0.3 billion, and "Medicaments" which increased by 37.3% to QAR 0.2 billion.
In terms of trade destinations, China remained Qatar's largest export market in September 2024, accounting for QAR 5.6 billion, or 20.3% of total exports. South Korea followed with QAR 3.0 billion (10.8%), and India with QAR 2.9 billion (10.4%).
On the import side, China was the leading country of origin of imports, with QAR 1.7 billion (17.5% of total imports), followed by the United States with QAR 1.1 billion (10.9%) and Japan with QAR 0.6 billion (5.9%).
Overall, Qatar's foreign trade data for September 2024 reflects ongoing shifts in global commodity prices, with notable impacts on exports of petroleum-related goods.
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