Qatar's trade surplus rose 8.7% to QR21.36bn in August against the previous month's levels owing to faster growth in shipments to Asian markets, according to official statistics.
However, the country registered a 41.1% year-on-year decrease in trade surplus in the review period, according to the Planning and Statistics Authority (PSA).
Qatar’s exports to Japan, China, Singapore and India were on the rise this August against those in August 2023.
The share of petroleum gases and other gaseous hydrocarbons in the country's total export basket was seen declining substantially; while those of crude and non-crude increased robustly in the review period.
The country's total exports of goods (including exports of goods of domestic origin and re-exports) were up 8% month-on-month to QR31.42bn. On an annualised basis, it tanked 32.9% in August 2023.
More than 63% of the exports went to China, South Korea, India, Japan and Singapore. In August 2023, Qatar's shipments to China amounted to QR7.51bn or 23.9% of the total exports of the country, followed by South Korea QR3.89bn (12.4%), India QR3.29bn (10.5%), Japan QR2.72bn (8.7%), and Singapore QR2.4bn (7.6%).
On a monthly basis, Qatar's exports to Japan zoomed 33.83%, China by 24.61%, Singapore by 22.36% and India by 17.66%; whereas those to South Korea were down 5.9% in September 2023.
On a yearly basis, the country's exports to Japan plunged 47.5%, India by 27.19%, Singapore by 13.87% and South Korea by 13.31%; while those to China shot up 38.98% in the review period.
The country’s exports of petroleum gases and other gaseous hydrocarbons were valued at QR17.65bn, which grew 3.9% on a monthly basis; crude at QR6.79% (26.7%), non-crude at QR3.15bn (13%) and other commodities at QR2.93bn (4%) in August 2023.
On a yearly basis, the exports of petroleum gases and other gaseous hydrocarbons plunged 47.4% and other commodities by 29.8%; even as those of crude surged 30.1% and non-crude by 8.4% in the review period.
Petroleum gases constituted 57.81% of the exports of domestic products in August 2023 compared to 73.17% a year ago period; followed by crude 22.24% (11.39%), non-crude 10.32% (6.35%) and other commodities 9.6% (9.1%).
Qatar's total imports (valued at cost insurance and freight) amounted to QR10.06bn, which showed a 6.6% increase month-on-month; even as it fell 4.8% on an annualised basis in August 2023.
The country's imports from the US amounted to QR1.78bn, which accounted for 17.7% of the total imports; followed by China QR1.36bn (13.5%), Germany QR0.85bn (8.5%), India QR0.54bn (5.3%) and Italy QR0.51bn (5%) in the review period.
On a monthly basis, the country's imports from Germany expanded 33.96%, the US by 31.86% and India by 4.87%; whereas those from Italy shrank 19.01% and China by 13.71% in August 2023.
On a yearly basis, Qatar's imports from Italy declined 29.58%, China by 25.93% and India by 22.7%; whereas those from Germany surged 51.6% and the US by 17.14% in the review period.
In August 2023, the group of "Turbojets, Turbo propellers and Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities and valued at QR0.51bn, showing an annual decline of 14.1%
In the second place was “Parts of Aeroplanes or Helicopters, with QR0.49bn, showing an increase of 93.7% on an annualised basis in the review period.
In third place was "Motor Cars & Other Motor Vehicles for The Transport of Persons”, with QR0.48bn, which however showed an increase 3.9% year-on-year in August 2023.