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Qatar trade balance surplus reaches QR60 bn in Q3, 2023

Business Doha 27 Nov 23
Qatar trade balance surplus reaches QR60 bn in Q3, 2023
Qatar’s trade balance surplus reaches QR60.9 bn in Q3, 2023.
Fee
Event Location
Qatar, Qatar
Area
Doha
Start Time
27 November 2023, 12:00 AM
End Time
31 December 2023, 12:00 AM
Website

According to the Planning and Statistics Authority (PSA), the merchandise trade balance of the State of Qatar recorded a surplus of QR60.9 billion Q3 2023, down from QR102.1 billion in Q3 2022.

Qatar’s total exports in Q3, 2023, including exports of domestic goods and re-exports, amounted to QR89.8 billion, decreased by QR43.8 billion (32.8 percent) compared to Q3 2022 which amounted total exports of QR133.6 billion, and increased by nearly QR4.4 billion or 5.2 percent compared to Q2 2023.

The Q3 2023 year on year (Y-o-Y) increases was recorded mainly in Machinery and Transport Equipment by 0.4 billion (19.6 percent), and Miscellaneous Manufactured Articles by 0.1 billion (12.0 percent).

On the other hand, the decrease in total exports was mainly due to lower exports of Mineral fuels, lubricants and related materials by QR41.2 billion (34.6 percent), Chemicals and Related Products n.e.s. by QR2.7 billion (30.8 percent), Crude Materials, Inedible, Except Fuels. by 0.3 billion (53.7 percent).

The value of Qatar's imports in Q3 2023 was QR28.9 billion; decreased by QR2.5 billion (8.1 percent) compared to Q3 2022 imports of QR31.5 billion, and increased by nearly QR1.2 billion or 4.4 percent compared to Q2 2023.

The Q3 2023 (Y-o-Y) decrease in imports values is mainly due to decreases in Miscellaneous Manufactured Articles by 1.0 billion (16.0 percent), Chemicals and Related Products n.e.s. QR0.64 billion (20.3 percent), Food and Live Animals by QR0.56 billion (15.5 percent), Crude Materials, Inedible, Except Fuels by QR0.2 billion (16.3 percent). On other hand increases was recorded mainly in Machinery and Transport Equipment by QR0.1 billion (1.0 percent) and Manufactured Goods Classified Chiefly by Material by 0.06 billion (1.5 percent).

During Q3 2023, Asia was the principal destination of Qatar's exports and the first origin of Qatar's imports, representing 74.9 percent and 36.3 percent respectively, followed by the European Union, accounting for 10.4 percent and 27.5 percent respectively, and GCC, with 9.4 percent and 7.3 percent respectively.

Qatar trade balance surplus 2023



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