Faster expansion in the exports of petroleum gases led Qatar's trade surplus to jump 2.9% year-on-year to QR22.92bn in February 2023, according to the official data.
Qatar's exports were almost four times its imports, according to figures released by the Planning and Statistics Authority (PSA).
The country's total exports (valued free on board) amounted to QR31.03bn, while the total imports (cost, insurance, and freight) were QR8.1bn in the review period.
However, the trade surplus shrank 5.7% month-on-month in February 2023.
Asia/South East Asia constituted a majority of Qatar's exports in January 2023; while imports came from variegated sources.
The country's total exports of goods (including exports of goods of domestic origin and re-exports) showed 2.2% and 8.7% contraction year-on-year and month-on-month respectively in the review period.
In February this year, Qatar's shipments to China amounted to QR6.05bn or 19.5% of the total exports of the country, followed by South Korea QR5.04bn (16.3%), India QR3.97bn (12.8%), Japan QR3.37bn (10.9%) and Singapore QR2.26bn (7.3%).
On a yearly basis, Qatar's exports to Japan plummeted 36.39% and China by 14.4%; whereas those to Singapore shot up 70.95%, South Korea by 35.59% and India by 21.92% in February 2023.
On a monthly basis, Qatar's exports to Singapore declined 4.32%, China by 3.53%, India by 0.75% and Japan by 0.36%; while those to South Korea zoomed 39.65% in the review period.
The exports of petroleum gases and other gaseous hydrocarbons grew 3.7% on an annualised basis to QR19.63bn; while those of non-crude by 18.5% to QR2.45bn, crude by 11.9% to QR4.8bn and other commodities by 9.3% to QR3.26bn in February 2023.
On a monthly basis, the exports of other non-specified commodities expanded 10%; while those of non-crude tanked 22.8%, petroleum gases by 11% and crude by 3.2% this February.
Petroleum gases constituted 65.13% of the exports of total domestic products in February 2023 compared to 61.13% a year ago; followed by crude 15.93% (17.59%), non-crude 8.13% (9.68%) and other commodities 10.81% (11.59%).
Qatar's total imports were seen declining 14.3% and 16.4% year-on-year and month-on-month respectively in February 2023.
The country's imports from China stood at QR1.26bn, which accounted for 15.6% of the total imports; followed by the US at QR1.06bn (13.1%), India at QR0.56bn (6.9%), Germany at QR0.52bn (6.4%) and Italy at QR0.44bn (5.4%), at the end of February 2023.
On a yearly basis, Qatar's imports from Italy plunged 36.34%, China by 24.58% and India by 15.17%; while those from Germany and the US increased 21.93% and 12.66% respectively in the review period.
On a monthly basis, the country's imports from Italy shrank 55.21%, China by 17.71%, Germany by 5.14% and India by 4.44%; whereas those from the US grew 0.76% in February 2023.
In February 2023, the "Turbojets, turbo-propellers, and Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities, valued at QR0.6bn, showing an increase of 39.5% year-on-year.
In the second place was "Motor Cars & Other Motor Vehicles for The Transport of Persons” with QR0.29bn, which however showed a decrease of 40.1% on a yearly basis in February 2023.
In third place was “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR0.27bn, registering an increase of 19.7% on annualised basis.
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