Qatar witnessed a 12% month-on-month jump in trade surplus to QR18.73bn in December 2023 on the back of robust growth in the shipments of hydrocarbons, according to the official estimates.
Total exports (valued free on board) were QR29.22bn, while the total imports (cost, insurance and freight) amounted to QR10.49bn in the review period, said the figures released by the Planning and Statistics Authority.
However, the trade surplus shrank 33.7% year-on-year in December 2023.
The country's total exports of domestic goods amounted to QR28.11bn, which shot up 10% on a monthly basis, even as it fell 24.8% on an annualised basis in December 2023.
The country’s exports of petroleum gases and other gaseous hydrocarbons soared 8.6% month-on-month to QR18.06bn, crude by 30.1% to QR4.84bn and other commodities by 4% to QR2.96bn; whereas those of non-crude declined 4.7% to QR2.25bn in December 2023.
On a yearly basis, the exports of petroleum gases were seen declining 31.1%, other commodities by 21.9%, non-crude by 6.1% and crude by 3.4% in the review period.
The share of petroleum gases in the country's total export basket has been declining on an annualised basis, while those of crude and non-crude were on the increase.
Petroleum gases accounted for 64.25% of the total exports in December 2023 compared to 70.07% a year-ago period, crude 17.21% (13.38%), non-crude 8% (6.4%) and others 10.54% (10.14%).
In December 2023, Qatar's shipments to China amounted to QR5.76bn or 19.7% of the total exports of the country, followed by India QR4.52bn (15.5%), South Korea QR2.87bn (9.8%), Spain QR2.35bn (8%) and Taiwan QR1.93bn (6.6%).
On a monthly basis, the country's exports to Spain jumped about 10-fold, those to Taiwan more than doubled, India by 23.37%, South Korea by 10.42% and China by 6.31% in the review period.
On a yearly basis, Qatar's exports to China plunged 31.37% and South Korea by 26.2%; whereas those to Spain grew more than nine-fold, Taiwan more than doubled and India by 7.29% in December 2023.
Qatar's total imports showed a 7% and 4.2% increase on month-on-month and year-on-year respectively in December 2023.
The country's imports from China amounted to QR1.5bn or 14.3% of the total imports; followed by the US QR1.45bn (13.8%), Italy by QR1.01bn (9.6%), India QR0.6bn (5.7%) and Germany QR0.58bn (5.5%) in the review period.
On a monthly basis, the country's imports from Italy zoomed 36.07% and India by 25.47%, while those from the US were down 0.95%, Germany by 0.85% and China by 0.53% in December 2023.
On a yearly basis, Qatar's imports from Italy shot up 11.71%, India by 8.29% and China by 3.96%; whereas those from the US and Germany tanked 26.7% and 24.92% respectively in the review period.
In December 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 QR1bn, which showing an annual increase of 12.3%.
In second place was "Motor Cars & Other Motor Vehicles for The Transport of Persons”, with QR0.5bn, which increased 8.9% year-on-year in December 2023.
The "Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc. and parts thereof" group saw imports of QR0.4bn, which surged 28.1% on an annualised basis in December 2023.