Qatar’s monthly foreign merchandise trade balance for June 2020 showed a surplus of about QR5.9bn, showing an increase of nearly QR0.5bn, or 10.2 percent, compared to May 2020.
When compared on year-on-year basis, the trade balance, which represents the difference between total exports and imports, has registered a decrease of about QR7.7bn, or 56.7 percent, compared to the corresponding month last year (June 2019) understandably as a result of low demand for petroleum products and their derivatives due to lockdowns in different countries, preliminary figures released by the Planning and Statistics Authority show.
In June 2020, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR12.7bn, a decrease of 41.1 percent compared to June 2019, and a decrease of 4 percent compared to May 2020.
On the other hand, the imports of goods in June 2020 amounted to around QR6.9bn, showing a decrease of 14.8 percent over June 2019. However, on a month on month (m-o-m) basis the imports decrease by 13.5 percent compared to May 2020.