RIYADH: Qatar experienced a significant boost in its export figures in June, largely driven by petroleum gases and other gaseous hydrocarbons, recording a 9.9 percent increase compared to the same month the previous year.
Total exports reached approximately 29.5 billion Qatari riyals ($8.16 billion), according to official data from the National Planning Council. This rise is notable not only year on year but also reflects a month-on-month increase of 5.1 percent.
The export figures include both goods of domestic origin and re-exports. Exports of LNG, condensates, propane, and butane, which amounted to around 17.9 billion riyals in June — a rise of 8.8 percent. Exports of petroleum oils and oils from bituminous minerals (crude) also saw an increase, climbing by 6 percent to nearly 5.1 billion riyals.
On the import side, Qatar’s goods imports in June 2024 totaled about 9.9 billion riyals. This figure represents a 5.1 percent increase compared to June 2023 but shows a 5.8 percent 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 in June. This surplus represents an increase of about 2.2 billion riyals, or 12.4 percent, compared to June 2023, and a rise of nearly 2 billion riyals, or 11.7 percent, from May 2024.
In terms of export destinations, South Korea emerged as Qatar’s top market in June, accounting for 16.5 percent of the total exports, valued at 4.9 billion riyals. China followed with a 12.4 percent share, amounting to nearly 3.6 billion riyals, while India ranked third with approximately 3.3 billion riyals, or 11.2 percent of the total exports.
For imports, China was the leading country of origin for Qatar’s goods, contributing about 1.6 billion riyals, which makes up 16.4 percent of Qatar’s total imports. The US followed with 1.3 billion riyals, or 13.4 percent, and Italy came in third with 0.7 billion riyals, accounting for 6.6 percent of the imports.
