Doha, Qatar: The foreign merchandise trade balance showed a vital improvement in its trade imports and exports with an increase of QR44.3bn or 76.6 percent during Q3 2022 compared to the corresponding quarter of its previous year, according to a recent publication of the Planning and Statistics Authority (PSA).
The trade balance, which represents the difference between total exports and total imports, showed a surplus of QR102.1bn in the third quarter of 2022.
The total exports (exports of domestic origin and re-exports) reached an amount of QR133.6bn during the same quarter of 2022 showing a significant increase of QR51bn or 61.7 percent compared to its previous year’s third quarter.
Meanwhile, the year-on-year increase in total exports was reflected due to the higher value of exports in different sectors as per the given report.
‘Petroleum gases and other gaseous hydrocarbons’, amounted to QR94.3bn, which showed an increase of 88.2 percent, ‘Petroleum Oils & Oils from Bituminous Minerals Etc. (Crude) came up to QR16bn, an increase of 33 percent, and ‘Petroleum oils and oils from bituminous minerals (not crude)” totaled an amount of QR8.9bn, as the data reported that it increased by 9.7 percent.
On the other hand, ‘Mineral or Chemical Fertilizers and Nitrogenous’ amounted to QR2.9bn, which showed an important increase of 28.6 percent, while the ‘Polymers of ethylene, in primary forms” came up to QR2.6bn, an increase of 7.4 percent during the Q3 2022 compared to the corresponding quarter of 2021.
However, there were no major decreases noticed in exports during the same quarter in 2022.
The figures also depict that Asian countries such as China, South Korea, and India were among the top three countries of destinations for Qatar’s exports.
In the recent report entitled ‘Window on Economic Statistics of Qatar’, PSA highlighted the data on foreign merchandise trade, which is compiled
as per international recommendations.
It noted that the General Authority of Customs is the main source of imports and re-exports data. For exports, the direct survey of exporting companies is the main source.”
However, it added that imports are valued at cost, insurance, and freight (c.i.f.), and exports at free-on-board (f.o.b.).
All goods are classified according to the Unified Customs Tariff Code for the GCC countries (GCC Tariff), which is an adapted version of the International Harmonized System (HS).
For analysis and international comparison purposes, imports and exports are classified according to the Standard International Trade Classification (S.I.T.C) which takes into account the nature of the products
