Qatar’s trade surplus reaches QR26.18bn in November; exports swell to Belgium, China, India and South Korea: PSA

A more than doubled exports to Belgium and robust double-digit growth in shipments to Asian countries like China, India and South Korea helped Qatar’s trade surplus reach QR26.18bn, which expanded 6.7% year-on-year in November, according to the official estimates.
The latest merchandise trade figures released by the Planning and Statistics Authority (PSA) showed not only robust increase in the exports of crude and petroleum gases but also higher share of petroleum gases to the country’s total trade surplus during the period in review.
The country's overall trade surplus showed a 4.3% growth month-on-month in November 2022.
The country's total exports (free-on-board and including exports of goods of domestic origin and re-exports) amounted to QR37.09bn, showing an 8.2% year-on-year increase but shrank 2.4% month-on-month in the review period.
In November 2022, Qatar's shipments to China were valued at QR7.02bn or 18.9% of the total exports of the country, followed by India QR4.26bn (11.5%), South Korea QR4.05bn (10.9%), Japan QR2.88bn (7.8%) and Belgium QR2.66bn (7.2%) in the review period.
On a yearly basis, Qatar's exports to Belgium more than doubled and those to China soared 38.03%, India by 21.7% and South Korea by 13.81%; whereas those to Japan declined 35.83% in November 2022.
On a monthly basis, Qatar's exports to China was seen surging 24.71%, Japan by 24.5% and Belgium by 18.77%; while those to South Korea and India declined 12.29% and 7.89% respectively this November.
Qatar exports of crude zoomed 28.3% on an annualised basis to QR5.24bn and petroleum gases and other gaseous hydrocarbons by 10.3% to QR24.7bn; whereas those of other commodities shrank 12.6% to QR3.67bn and non-crude by 5.9% to QR2.7bn in November 2022.
On a monthly basis, the exports of other commodities were seen contracting 6.9%, petroleum gases by 3% and crude by 2.8%; but non-crude reported a 20.8% jump this November.
Petroleum gases constituted 68.04% of the exports of domestic products this November against 66.75% a year ago period; followed by crude 14.44% (12.16%), other commodities 10.11% (12.49%) and non-crude 7.43% (8.56%).
Qatar's total imports (valued at cost, insurance and freight) amounted to QR10.91bn, which grew 11.7% year-on-year but plummeted 15.5% month-on-month in November 2022.
The country's imports from the US stood at QR2.02bn, which accounted for 18.5% of the total imports; followed by China QR1.64bn (15%), India QR0.65bn (5.9%), Italy QR0.61bn (5.6%) and Germany QR0.55bn (5%) in November this year.
On a yearly basis, Qatar's imports from the US shot up 84.72%, Italy by 49.26% and India by 0.47%; while those from Germany tanked 22.8% and China by 10.88% in November 2022.
On a monthly basis, the country's imports from Germany plummeted 23.88%, China by 21.74% and the US by 8.14%; whereas those from Italy and India expanded 13.06% and 2.7% respectively in the review period.
In November 2022, the group "Turbojets, Turbo propellers and Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities, with QR0.7bn, showing an increase of 69.1% on an annualised basis.
In the second place was "Motor Cars and Other Motor Vehicles for the Transport of Persons" with QR0.4bn, showing an increase of 39.4% year-on-year.
In third place was "Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets; parts thereof" with QR0.38bn, showing a yearly increase of 15.8%.