Qatar's exports stood more than three times its imports as it reported a trade surplus of QR24.29bn in January 2023, according to official estimates.
The country's total exports (valued free on board) amounted to QR33.99bn, while the total imports (cost, insurance, and freight) were QR9.7bn in the review period, according to figures released by the Planning and Statistics Authority.
However, the trade surplus shrank 6.2% and 14% year-on-year and month-on-month respectively in January 2023.
Asia/South East Asia constituted a majority of Qatar's exports in January 2023; while imports came from variegated sources.
The country's total exports of goods (including exports of goods of domestic origin and re-exports) showed 4.4% and 11.3% contraction year-on-year and month-on-month respectively in January 2023.
In January this year, Qatar's shipments to China amounted to QR6.27bn or 18.4% of the total exports of the country, followed by India QR4.29bn (12.6%), South Korea QR3.61bn (10.6%), Japan QR3.38bn (9.9%) and Singapore QR2.36bn (6.9%).
On a yearly basis, Qatar's exports to Japan decreased by 15.52%, South Korea by 13.21% and China by 8.76%; whereas those to Singapore rose 11.57% and India by 2.66% in January 2023.
On a monthly basis, Qatar's exports to China and South Korea shrank 25.3% and 7.22%; while those to Singapore, Japan, and India shot up 40.09%, 25.05%, and 1.9% respectively in the review period.
The exports of petroleum gases and other gaseous hydrocarbons were up 0.3% on an annualised basis to QR22.06bn and non-crude by 9.6% to QR3.17bn; even as those of crude plummeted 10.4% to QR4.97bn and other commodities by 31% to QR2.96bn.
On a monthly basis, the exports of other non-specified commodities tanked by 21.9%, petroleum gases by 15.8%, and crude by 0.8%; even as non-crude zoomed by 32.4% in January 2023.
Petroleum gases constituted 66.53% of the exports of total domestic products in January 2023 compared to 63.35% a year ago period; followed by crude 14.99% (15.98%), non-crude 9.6% (8.32%) and other commodities 8.93% (12.35%).
Qatar's total imports registered a 0.5% growth year-on-year but shrank 3.7% month-on-month in January 2023.
The country's imports from China stood at QR1.54bn, which accounted for 15.8% of the total imports; followed by the US at QR1.05bn (10.8%), Italy at QR0.98bn (10.1%), India at QR0.59bn (6%) and Germany QR0.55bn (5.6%) at the end of January 2023.
On a yearly basis, Qatar's imports from Italy more than doubled and those from Germany grew 23.02%; whereas those from China, India, and the US declined 34.11%, 17.02%, and 2.32% respectively this January.
On a monthly basis, the country's imports from the US and Germany plunged 46.92% and 29.22%; while those from Italy, China, and India shot up 8.07%, 6.59%, and 5.41% respectively in the review period.
In January 2023, "Turbojets, turbo-propellers, and Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities, valued at QR1bn, showing an increase of 72% year-on-year.
In second place was “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR0.5bn, registering an increase of 29.5% on annualised basis.
In third place was "Motor Cars & Other Motor Vehicles for The Transport of Persons” with QR0.4bn, an increase of 16.8% on a yearly basis in January 2023.
