57.7 billion riyals, Qatar’s merchandise trade balance surplus in the third quarter of 2024
Doha, 1st January / WAM / The merchandise trade balance of the State of Qatar (the difference between total exports and imports) during the third quarter of 2024 achieved a surplus of 57.7 billion riyals compared to the trade balance surplus for the third quarter of 2023, which amounted to 60.9 billion riyals.
Data from the National Planning Council, published by Qatar News Agency today, showed that the total value of Qatari exports (including exports of local goods and re-exports) during the third quarter of 2024 reached 87.8 billion riyals, a decrease of 2 billion riyals, or 2.2%. Compared to the third quarter of 2023, which recorded total exports of 89.8 billion riyals, an increase of 2.8 billion riyals, or 3.3 percent, compared to the second quarter. From 2024.
The data attributed the main reason for the decrease in total exports during the third quarter of 2024 (compared to the third quarter of 2023) to a decrease in exports of mineral fuels, lubricants, and similar materials, by a value of 5 billion riyals, by 6.5%, and various manufactures, by a value of 0.1 billion riyals, by a rate of 22%.
On the other hand, exports witnessed an increase in chemicals and their products not mentioned by a value of 1.5 billion riyals, a rate of 24.5%, machinery and transportation equipment, a value of 1.2 billion riyals, a rate of 53.3%, manufactured goods classified mainly by article, a value of 0.4 billion riyals, a rate of 17.1%, and inedible raw materials, with the exception of Fuel worth 0.1 billion riyals, or 24.8%.
The value of Qatari imports during the third quarter of 2024 amounted to 30.1 billion riyals, an increase of 1.2 billion riyals, or 4.1%, compared to the third quarter of 2023, which amounted to 28.9 billion riyals, and a decrease of 0.3 billion riyals, or 1.1%, compared to the second quarter of 2024. .
Imports witnessed a decrease in various manufactures by 0.4 billion riyals, or 6.7%, and manufactured goods, classified mainly by article, by 0.3 billion riyals, or 7.7%.
Asian countries ranked first in terms of destination countries for Qatari exports during the third quarter of 2024, as well as in terms of countries of origin for Qatari imports during the same period, accounting for 75.9% and 39.7%, respectively, followed by the Gulf Cooperation Council countries at a rate of 11.6% and 11. 3% respectively, then the European Union at 7.7% and 26% respectively.
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