This surge in exports not only reflects a year-on-year growth but also shows a month-on-month increase of 5.1 percent. The substantial rise can be attributed primarily to the higher volumes of liquefied natural gas (LNG), condensates, propane, and butane being exported.
The data further indicated that the largest share of Qatar's exports was destined for Asian markets. China topped the list of export destinations, followed closely by Japan and India. These countries have consistently been major importers of Qatari petroleum products, supporting the robust demand for energy resources from Qatar.
The PSA's report highlighted that petroleum gases and other gaseous hydrocarbons were the main contributors to the export growth. In addition to these, the export of petroleum oils and oils from bituminous minerals also showed notable increases, reinforcing Qatar's position as a key player in the global energy market.
Despite the impressive export figures, the report also pointed out a significant rise in the value of imports, which reached around 10.6 billion Qatari riyals. This represents a 30.5 percent increase compared to the same period last year. The primary imports included motor vehicles, electrical apparatus for line telephony, and parts for aircraft, reflecting the country's ongoing infrastructural and technological advancements.
The trade balance surplus for June stood at approximately 18.9 billion Qatari riyals, underscoring Qatar's strong export performance and its ability to maintain a favorable trade position amidst fluctuating global economic conditions.
Qatar's strategic investments in expanding its LNG production capacity and diversifying its export markets continue to pay off, ensuring steady economic growth and resilience against global market volatility. This trend is expected to persist as the country further enhances its production capabilities and explores new markets for its energy exports.