Qatar's trade balance surplus grew 78 percent year-over-year in July to QR 15.2bn, official data showed on Sunday. According to data released by the Planning and Statistics Authority, preliminary figures of the value of exports of domestic goods showed that the total value of exports of goods (including exports of goods of domestic origin and reexports) amounted to around QR 44.4bn, showing an increase of 61.9 percent compared to July 2021, and an increase of 12.4 percent compared to June 2022. On the other hand, the imports of goods in July 2022 amounted to around QR 9.6bn, showing an increase of 21.8 percent compared to July 2021 and an increase of 2.9 percent compared to June 2022. The year-on-year (July 2022 vs. July 2021) increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.). Exports increased by 90.3 percent to QR 30.6 billion (approximately) in July 2022.Petroleum oils and bituminous mineral oils (crude) increased by nearly 35% to QR 6 billion, while petroleum oils and bituminous mineral oils (not crude) increased by 1.7% to QR 2.9 billion.
India was at the top of the countries of destination of Qatar's exports with close to QR5.7bn, a share of 12.8 percent of total exports, followed by Japan with almost QR 5.12bn and a share of 11.55 percent, and South Korea with about QR 5.08bn, a share of 11.46 percent. Meanwhile, turbojets, turbopropellers, and other gas turbines and parts thereof were at the top of the imported group, with QR 0.8bn, showing an increase of 26.3 percent. Electrical apparatus for line telephony/telegraphy, telephone sets, etc., and parts thereof came in second with QR 0.33 billion, an increase of 49.8 percent.Motor cars and other motor vehicles for people's transportation came in third, with QR 0.32 billion, a 12.5 percent increase. In July 2022, China was the leading country of origin of Qatar's imports with about QR 1.7bn, a share of 17.3 percent of the imports, followed by the United States of America with QR 1.6bn, a share of 16.7 percent, and India with QR 0.6bn, a share of 6.2 percent.