Qatar’s trade surplus rises 69.5% to QR22.4 bn in Feb

Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of almost QR22.4 billion in February this year, an increase of about QR9.2 billion or 69.5 percent compared to February 2021, and a decrease of nearly QR3.5 billion, or 13.5 percent, compared to January 2022.
According to a report on the preliminary figures of the value of exports of domestic goods, re-exports and imports for February 2022 released by the Planning and Statistics Authority (PSA), the total exports of goods including exports of goods of domestic origin and re-exports amounted to around QR31.9 billion, showing an increase of 54.6% compared to February 2021, and a decrease of 10.3 percent compared to January 2022.
On other hand, the PSA report said, imports of goods in February 2022 amounted to around QR9.5 billion, showing an increase of 28.1 percent compared to February 2021 and a decrease of 1.9 percent compared to January 2022.
The year on year increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons like LNG, condensates, propane, butane and others reaching approximately QR18.9 billion in February 2022, an increase of 41.7 percent.
The increase was also because of exports of petroleum oils and oils from bituminous minerals (crude) reaching QR 5.5 billion nearly, an increase of 120.3 percent and in the petroleum oils and oils from bituminous minerals not crude reaching QR3 billion, an increase of 127.4 percent.
In February 2022, China was at the top of the countries of destination of Qatar’s exports with close to QR7.1 billion, a share of 22.2 percent of total exports, followed by Japan with almost QR5.3 billion and a share of 16.6 percent, South Korea with about QR3.7 billion, a share of 11.7 percent.
Year on year, the group of Motor Cars and Other Motor Vehicles for The Transport of Persons was at the top of the imported group of commodities, with QR 0.5 billion, showing an increase of 47.9 percent. In second place was Turbojets, Turbo propellers and Other Gas Turbines; Parts Thereof with QR 0.4 billion, showing an increase of 50.2 percent and Parts of Balloons; Parts of Aircraft, Spacecraft and others with QR 0.2 billion, an increase of 6.5 percent.
In February 2022, China was the leading country of origin of Qatar’s imports with about QR1.7 billion, a share of 17.7 percent of the imports, followed by the United State of America with almost QR 0.9 billion almost, a share of 9.9 percent and Italy with QR 0.7 billion, a share of 7.3 percent.