Qatar’s exports to Japan, China and India were on the rise this June compared to those in May 2023, as the country reported trade surplus of QR17.41bn, according to the official statistics.
However, the foreign merchandise trade surplus reported 4.4% and 42.3% contraction month-on-month and year-on-year respectively in the review period, according to the figures released by the Planning and Statistics Authority.
More than 60% of the exports went to China, South Korea, Japan, India and Singapore,
In June 2023, Qatar's shipments to China amounted to QR5.39bn or 20.1% of the total exports of the country, followed by South Korea QR3.2bn (11.9%), India QR3.17bn (11.8%), Japan QR2.47bn (9.2%), and (Singapore QR1.94bn (7.2%).
On a monthly basis, Qatar's exports to Japan zoomed 66.28%, China by 16.19% and India by 2.52%; while those to South Korea and Singapore declined 10.02% and 0.21% respectively in June 2023.
On a yearly basis, the country's exports to Japan plunged 37.35%, India by 24.53%, South Korea by 22.91%, Singapore by 15.72%, and China by 10.1% in the review period.
The country's total exports of goods (including exports of goods of domestic origin and re-exports) were QR26.83bn, showing a 32% and 3.5% decline year-on-year and month-on-month respectively in June 2023.
The country’s exports of petroleum gases and other gaseous hydrocarbons were valued at QR16.42bn, which plummeted 29.7% on an annualised basis; crude at QR4.78bn (126.4%); non-crude at QR2.23bn (46.9%) and other commodities at QR2.42bn (47.3%) in June 2023.
On a monthly basis, the exports of petroleum gases and other gaseous hydrocarbons were down 5.1% and other commodities by 22%; whereas those of non-crude and crude expanded 13% and 6.9% respectively in the review period.
Petroleum gases constituted 63.54% of the exports of domestic products in June 2023 compared to 60.44% a year ago period; followed by crude 18.5% (16.8%), non-crude 8.63% (10.88%) and other commodities 9.37% (11.89%).
Qatar's total imports (valued at cost insurance and freight) amounted to QR9.42bn, which showed a 1.1% increase month-on-month; even as it fell 1.8% on an annualised basis in June 2023.
The country's imports from the US amounted to QR1.84bn, which accounted for 19.5% of the total imports; China QR1.33bn (14.1%); Germany QR0.53bn (5.6%), India QR0.52bn (5.5%) and Italy QR0.48bn (5.1%) in the review period.
On a monthly basis, the country's imports from China declined 5.28%, India by 3.35% and the US by 0.59%; whereas those from Germany and Italy increased 13.92% and 2.36% respectively in June 2023.
On a yearly basis, Qatar's imports from Germany were seen plummeting 35.03%, India by 16.69%, China by 16.65% and Italy by 14.64%; while those from the US shot up 55.76% in the review period.
In June 2023, the group of "Turbojets, Turbo propellers and Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities and valued at QR0.5bn, showing an annual expansion of 37.2%
In the second place was "Motor Cars & Other Motor Vehicles for The Transport of Persons”, with QR0.4bn, an increase 44.5% year-on-year in the review period.
In third place was “Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses" valued at QR0.3bn, showing increase of 34.7% in June 2023 on an annualised basis.