Qatar’s trade surplus reaches QR17.6bn in May 2024

Doha: Qatar s foreign merchandise trade balance for May 2024 which represents the difference between total exports and imports showed a surplus of QR1...

Doha: Qatar's foreign merchandise trade balance for May 2024 which represents the difference between total exports and imports showed a surplus of QR17.6bn.

This shows a decrease of about QR0.6bn or 3.5 percent on month-on-month (m-o-m) basis while an increase of nearly QR0.2bn or 0.9 percent on year-on-year (y-o-y) basis, according to National Planning Council data. 

The total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR28.1bn, showing an increase of 1.0 percent compared to May 2023, and an increase of 2.3 percent compared to April 2024. 

On the other hand imports of goods in May 2024 amounted to around QR10.5bn showing an increase of 9.6 percent compared to May 2023 and increase by 4.6 percent compared to April 2024. 

The year on year decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR17.1bn (approximately) in May 2024, that is decrease of 0.9 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR4.2bn nearly decrease by 6.3 percent and an increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2bn 3.6 percent.