A trade balance surplus of 20 billion riyals in September

The Planning and Statistics Commission has released its preliminary report on foreign trade statistics for the month of September 2023. The report contains data on exports (local origin and re-exports) and imports. A brief presentation of the following data:
In September 2023, the value of total exports (including local origin and re-exports) was approximately 29.3 billion riyals, a 30.9% decrease compared to data for September 2022 and a 6.8% decrease compared to August 2023.
On the other hand, the value of goods imports decreased in September 2023, reaching about 9.4 billion riyals, a decrease of 16.7% compared to the data for September 2022 and a decrease of 6.5% compared to August 2023.
In light of this, the goods trade balance, which represents the difference between total exports and imports, reached a surplus of 19.9 billion riyals in September 2023, a decrease of 11.2 billion riyals or 36.1% compared to the data. The previous year was September 2022 and 1.5 billion less. Approximately 7.0% riyal compared to August 2023.
Comparing September 2023 with data for September 2022, the value of exports of “petroleum gases and other gaseous hydrocarbons” (liquefied natural gas, condensates, propane, butane, etc..) decreased by about 16.7 billion riyals. or 44.7%, and the value of “petroleum oils” increased and oils from raw continental mineral products increased by 12.7% to reach approximately 5.4 billion Qatari riyals. “Export value of petroleum oils and non-oil raw material continental mineral products” reached about 3.2 billion Qatari Riyals at a rate of 4.1%.
In terms of exports by major destination countries, China ranked first among the destination countries for Qatar’s exports in September 2023, with a value of approximately 5.0 billion riyals or 17.0% of the total value of exports, followed by the South. Korea, approximately 3.44 billion riyals or 11.8%. India accounted for approximately 3.42 billion riyals or 11.7% of the total value of exports.