Qatar's foreign merchandise trade surplus achieves QR 57.7 billion in Q3 2024
In Q3 of 2024, Qatar recorded a merchandise trade balance surplus (difference between total exports and imports) of QR 57.7 billion down from QR 60.9 billion in Q3 2023.
ANI
Jan 01, 2025 22:57 IST
Doha [Qatar] January 1 (ANI/WAM): In Q3 of 2024, Qatar recorded a merchandise trade balance surplus (difference between total exports and imports) of QR 57.7 billion down from QR 60.9 billion in Q3 2023.
According to figures released by the Planning and Statistics Authority on Wednesday Aand carried by Qatar News Agency (QNA), the value of Qatar's total exports in Q3 2024 (including exports of domestic goods and re-exports) amounted to QR 87.8 billion. This decreased by QR 2.0 billion (2.2 per cent) compared to Q3 2023, which amounted to total exports of QR 89.8 billion. However, it increased by nearly QR 2.8 billion, or 3.3 per cent, compared to Q2 2024.
The Q3 2024 year-on-year (Y-o-Y) decrease in total exports was mainly due to lower exports of Mineral fuels, lubricants, and related materials by QR 5.0 billion (6.5 per cent), and Miscellaneous Manufactured Articles by QR 0.1 billion (22.0 per cent).
On the other hand, increases were recorded mainly in Chemicals and Related Products n.e.s. by QR 1.5 billion (24.5 per cent), Machinery and Transport Equipment by QR 1.2 billion (53.3 per cent), Manufactured Goods Classified Chiefly by Material by QR 0.4 billion (17.1 per cent), and Crude Materials, Inedible, Except Fuels by QR 0.1 billion (24.8 per cent).
The value of Qatar's imports in Q3 2024 was QR 30.1 billion; increased by QR 1.2 billion (4.1 per cent) compared to Q3 2023 imports of QR 28.9 billion and decreased by nearly QR 0.3 billion or 1.1% compared to Q2 2024.
The Q3 2024 (Y-o-Y) increase in import values is mainly due to increases in Machinery and Transport Equipment QR 0.8 billion (6.7 per cent), Chemicals and Related Products n.e.s. by 0.4 billion (17.2 per cent), Mineral Fuels, Lubricants and Related Materials by 0.32 billion (58.2 per cent), Food and Live Animals QR 0.30 billion (9.8 per cent).
On the other hand, decreases were recorded mainly in Miscellaneous Manufactured Articles by QR 0.4 billion (6.7 per cent) and Manufactured Goods Classified Chiefly by Material by QR 0.3 billion (7.7 per cent).
During Q3 2024, Asia was the principal destination of Qatar's exports and the first origin of Qatar's imports, representing 75.9 per cent and 39.7 per cent respectively, followed by GCC, accounting for 11.6 per cent and 11.3 per cent respectively, and the European Union, with 7.7 per cent and 26.0 per cent respectively. (ANI/WAM)
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