The National Planning Council (NPC) is pleased to publish the Press Release on "Quarterly Foreign Merchandise Trade Statistics, Q2 2024 State of Qatar", comprising quarterly data on imports, exports, re-exports, and trade balance. The bulletin presents detailed statistics of the foreign merchandise trade of Qatar by commodity and partner country. Quarter-on-Quarter (Q-o-Q) percentage changes are also provided.
Foreign Merchandise Trade Balance: In Q2 2024, Qatar recorded a merchandise trade balance surplus (difference between total exports and imports) of QR54.5 billion down from QR 57.6 billion in Q2 2023.
Total Exports: In Q2 2024, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR 85.0 billion, decreased by QR 0.3 billion (0.4%) compared to Q2 2023 which amounted total exports of QR 85.3 billion. And decreased by nearly QR 2.6 billion or 3.0% compared to Q1 2024.
The Q2 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 1.7 billion (2.4%), Crude Materials, Inedible, Except Fuels. by QR 0.03 billion (9.5%). On other hand increases was recorded mainly in Machinery and Transport Equipment by 0.9 billion (38.6%), and Chemicals and Related Products n.e.s. by 0.5 billion (7.8%).
Imports: The value of Qatar’s imports in Q2 2024 was QR 30.5 billion; increased by QR 2.8 billion (10.0%) compared to Q2 2023 imports of QR 27.7 billion. And decreased by nearly QR 4.0 billion or 11.5% compared to Q1 2024.
The Q2 2024 (Y-o-Y) increase in imports values is mainly due to increases in Machinery and Transport Equipment QR 1.9 billion (17.9%), Mineral Fuels, Lubricants and Related Materials by 0.7 billion (191.8%), Food and Live Animals QR 0.4 billion (13.3%), Crude Materials, Inedible, Except Fuels by QR 0.31 billion (32.8%), Manufactured Goods Classified Chiefly By Material by QR 0.27 billion (7.1%). On other hand decreases was recorded mainly in Miscellaneous Manufactured Articles by QR 1.4 billion (24.7%) and Animal and Vegetable Oils, Fats and Waxes by 0.03 billion (26.4%).
Major Export/Import Partners: During Q2 2024, Asia was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 76.6% and 39.5% respectively, followed by GCC, accounting for 11.5% for each one, and the European Union, with 8.2% and 24.6% respectively.
