Qatar trade surplus jumps 78% year-on-year in July 2022; India tops export destination

Quicker growth within the exports of pure fuel and crude helped Qatar report a 78% enhance in commerce surplus on an annualised foundation in July 2022, in response to official information.
The rebound within the nation’s merchandise commerce surplus has been enabled by sturdy leap in exports to Asian nations and Belgium throughout the interval in assessment, in response to figures launched by the Planning and Statistics Authority.
The nation’s commerce surplus confirmed a 15.3% month-on-month leap in July 2022.
The nation’s whole exports of products (together with exports of products of home origin and re-exports) amounted to QR44.4bn, exhibiting a stupendous 61.9% and 12.4% surge year-on-year and month-on-month respectively within the assessment interval.
In Could 2022, Qatar’s shipments to India had been valued at QR5.68bn or 12.8% of the overall exports of the nation, adopted by Japan QR5.12bn (11.55%), South Korea QR5.08bn (11.46%), China QR3.75bn (8.4%) and Belgium QR3.53bn (8%).
On a yearly foundation, Qatar’s exports to Belgium grew greater than 75-fold; these to India zoomed 68.54%, Japan by 31.96% and South Korea by 30.93%; whereas these to China declined 13.59% on the finish of July 2022.
On a month-to-month foundation, Qatar’s exports to Belgium witnessed a 76.25% surge, these to India shot up 35.24%, Japan by 29.95% and South Korea by 22.41%; whereas these to China shrank 37.5% within the assessment interval.
The exports of petroleum gases surged 90.3% on an annualised foundation to QR30.57bn, crude by 35% to QR6bn, different commodities by 19.7% to QR3.96bn and non-crude by 1.7% to QR2.94bn this July.
On a month-to-month foundation, the exports of petroleum gases had been seen increasing 31%; whereas these of non-crude tanked 30%, different commodities by 13.9% and crude by 7.5% in July 2022.
Petroleum gases constituted 70.34% of the exports of home merchandise this July in comparison with 60.15% a 12 months in the past interval; adopted by crude 13.81% (16.67%), different commodities 6.76% (12.36%) and non-crude 6.76% (10.82%).
Qatar’s whole imports (valued at value insurance coverage and freight) amounted to QR9.59bn, which strengthened 21.8% and a couple of.9% on yearly and month-to-month foundation respectively in July 2022.
The nation’s imports from China stood at QR1.66bn, which accounted for 17.3% of the overall imports; adopted by the US QR1.6bn (16.7%), India QR0.6bn (6.2%), Italy QR0.56bn (5.8%) and Turkiye QR0.55bn (5.8%) on the finish of July this 12 months.
On a yearly foundation, Qatar’s imports from Turkiye greater than doubled; these from the US shot up 78.29%, Italy by 50.4%, China by 26.95% and India by 21.14% in July 2022.
On a month-to-month foundation, the nation’s imports from Turkiye surged 87.4%, US by 35.68%, China by 4.46% and Italy by 0.18%; whereas these from India declined 4.33% within the assessment interval.
In July 2022, the group “Turbojets, Turbo propellers and Different Gasoline Generators; Components Thereof” was on the prime of the imported group of commodities, with QR0.8bn, exhibiting a rise of 26.3% on an annualised foundation.
In second place was “Electrical Equipment for Line Telephony/Telegraphy, Phone Units; components thereof” with QR0.33bn, exhibiting a rise of 49.8%.
Within the third place was “Motor Automobiles and Different Motor Autos for The Transport of Individuals” with QR0.32bn, a rise of 12.5%.