March 27, 2023

Dubai Week

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213% increase in the country's trade surplus

213% increase in the country’s trade surplus

Doha – Al Raya:

The trade balance of goods, which represents the difference between total exports and imports, increased by 19.6 billion riyals in July to 13.3 billion riyals, or 213.4%. And an increase of about 2.6 billion riyals or 15.5% compared to last June.

According to the Planning and Statistics Commission, yesterday, the value of total Qatari exports (including local origin and re-exports) was approximately 27.5 billion riyals, an increase of 101.9% compared to July 2020, and an increase of 8.7% compared to June 2021.

On the other hand, the value of goods imports increased in July 2021, reaching about 7.9 billion riyals, an increase of 7.1% compared to July 2020 and a decrease of 5.3% compared to June 2021.

Compared to July 2021 and July 2020, the export value of “oil gases and other gaseous hydrocarbons” increased by about 16.1 billion riyals, 105.9% and the value of “petroleum oils and bituminous mineral oils”. Exports of “petroleum oils and oils derived from non-crude bituminous minerals” increased by about 4.4 billion riyals, or 92.0%, to about 2.9 billion riyals, or 146.8%.

In terms of exports from major target countries, China topped the list of Qatari exports in July 2021 with approximately 4.3 billion riyals, or 15.8% of the total value of Qatari exports. Japan accounts for approximately 3.88 billion riyals, or 14.13% of the total value of exports, and about 3.87 billion Qatari riyals, or 14.12%.

Compared to July 2021 and July 2020, “jet turbines, propulsion turbines and other gas turbines and their components” topped the list of imported goods, valued at 0.6 billion riyals. 0.2%, “Cars and other vehicles” primarily designed to carry people approximately 0.26 billion riyals, an increase of 27.0%.

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In terms of imports by major countries, China tops the list with imports of approximately 1.3 billion riyals or 16.6% of total value, followed by the United States with 0.9 billion riyals or 11.4%, followed by the United Kingdom with 0.6 billion riyals or 7.8%.