Qatar’s economy has demonstrated significant strength, with exports rising by 9.9% in June compared to last year, totaling approximately $8.16 billion, according to the National Planning Council. This growth was primarily fueled by a substantial increase in petroleum gases and other hydrocarbon exports, which comprised nearly 61% of the total.

The export figures, encompassing both domestically produced goods and re-exports, also showed a month-on-month increase of 5.1%. While exports of petroleum oils and related products grew by 6%, the substantial rise in LNG, condensates, propane, and butane was the key driver behind the overall export performance.

On the import front, Qatar’s goods imports totaled approximately 9.9 billion riyals in June, marking a 5.1% increase year-on-year but a slight decline compared to the previous month. This resulted in a trade surplus of nearly $5.4 billion, reflecting a substantial 12.4% increase year-on-year.

South Korea emerged as Qatar’s top export destination, accounting for 16.5% of total exports, valued at $1.3 billion. China followed with a 12.4% share, totaling $988 million, and India ranked third with 11.2%, approximately $906 million.

For imports, China was the country of origin for Qatar’s goods, accounting for 16.4% of total imports. The US followed with 13.4%, and Italy ranked third with 6.6%.

Now accepting applications for Fast Company Middle East’s Most Innovative Companies. Click here to apply.