Qatar’s trade balance surplus declined to $5.4 billion in September

2023-10-28 13:08:20

Qatar’s trade balance surplus declined to $5.4 billion in September

The surplus in Qatar’s merchandise trade balance, which represents the difference between total exports and imports last September, declined by 36.1% to 19.9 billion riyals ($5.4 billion) on an annual basis, and decreased by 1.5 billion riyals, or 7%, compared to last August.

Today, Saturday, data from the Qatar Planning and Statistics Authority showed that total Qatari exports, which include exports of local origin and re-exports, decreased by 30.9% to a level of 29.3 billion compared to September 2022, and declined by 6.8% on a monthly basis.

The value of merchandise imports also decreased to regarding 9.4 billion riyals, by 16.7% on an annual basis, and 6.5% compared to last August.

China occupied the top destination country for Qatar’s exports last September, with 5 billion riyals, or 17.0%, followed by South Korea, with 11.8%, and a value of 3.44 billion riyals, then India, with 3.42 billion riyals, or 11.7%.

The United States came at the top of the countries of origin for Qatar’s imports, with 2.1 billion riyals, or 21.9%, then China, with 14.2%, and a value of 1.3 billion riyals, followed by Italy, with 700 million riyals, or 7.1%.

It is noteworthy that the inflation rate in Qatar, last September, slowed to 1.8% on an annual basis from 2.38% in August, and price rates rose in 8 out of 12 groups of goods and services monitored by the consumer price index.

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