In June 2024, Qatar’s export figures saw a significant boost, with a 9.9% increase compared to the same month last year. This growth was largely driven by exports of petroleum gases and other gaseous hydrocarbons. Total exports for June reached approximately 29.5 billion Qatari riyals (about $8.16 billion), reflecting both a year-on-year increase and a month-on-month rise of 5.1%. The export data includes both domestically produced goods and re-exports. Exports of LNG, condensates, propane, and butane totaled around 17.9 billion riyals, marking an 8.8% increase. Additionally, exports of petroleum oils and oils from bituminous minerals increased by 6%, reaching nearly 5.1 billion riyals.
On the import side, Qatar’s imports amounted to about 9.9 billion riyals in June. This represents a 5.1% increase compared to June 2023 but a 5.8% decline from May 2024. The foreign merchandise trade balance, which is the difference between total exports and imports, recorded a surplus of 19.6 billion riyals for June. This surplus represents an increase of about 2.2 billion riyals, or 12.4%, compared to June 2023, and a rise of nearly 2 billion riyals, or 11.7%, from May 2024.
Regarding export destinations, South Korea was the leading market in June, accounting for 16.5% of total exports, valued at 4.9 billion riyals. China followed with a 12.4% share, amounting to nearly 3.6 billion riyals, while India ranked third with approximately 3.3 billion riyals, or 11.2% of total exports. For imports, China was the largest source of goods, contributing about 1.6 billion riyals, which accounts for 16.4% of Qatar’s total imports. The US followed with 1.3 billion riyals, or 13.4%, and Italy came in third with 0.7 billion riyals, representing 6.6% of the total imports.
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