Qatar's trade balance surplus surges 10% in December 2022

The foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR28.2bn in December 2022, an increase of about QR2.6bn or 10% compared to December 2021, and increase by nearly QR2bn or 7.6% compared to November 2022.
Data provided by the Planning and Statistics Authority showed that the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR38.3bn in December 2022, showing an increase of 7.6% compared to December 2021, and increase of 3.1% compared to November 2022.
On other hand, the imports of goods in December 2022 amounted to around QR10.1bn, showing an increase of 1.4% compared to December 2021 and decrease of 7.7% compared to November 2022.
The year-on-year (December 2022 vs December 2021) increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR26.2bn (approximately) in December 2022, i.e.
an increase of 12.9%; petroleum oils and oils from bituminous minerals (crude) reaching QR5.0bn nearly, an increase by 12.8%, and decrease in the petroleum oils and oils from bituminous minerals (not crude) reaching QR2.4bn, or 12.3%.
In December 2022, China was at the top of the countries of destination of Qatar'ss exports with close to QR8.4bn, a share of 21.9% of the total exports, followed by India with almost QR4.2bn and a share of 11.0%, and South Korea with about QR3.9bn, a share of 10.2 %.
Year-on-year (December 2022 vs December 2021), the group of turbojets, turbopropellers and other gas turbines was at the top of the imported group of commodities, with QR0.9bn, an increase of 3.5%.
In the second place was motor cars and other motor vehicles for the transport of persons" with QR0.5bn, showing an increase of 8.4% and in third place was "parts of balloons etc; parts of aircraft, spacecraft etc." with QR0.3bn, a decrease of 2.0%.
In December 2022, US was the leading country of origin of Qatar's imports with about QR2.0bn, a share of 19.7 % of the imports, followed by China with QR1.4bn, a share of 14.3%, and Italy with QR0.9bn, a share of 9.0%.