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Qatar’s Sept trade surplus jumps 41.5% to QR12.48bn

Qatar’s Sept trade surplus jumps 41.5% to QR12.48bn

DOHA: Higher exports of crude and non-crude led Qatar’s trade surplus to surge 41.5% year-on-year to QR12.48bn in September this year, according to official statistics. The trade surplus, however, saw a 1.7% decline on a monthly basis, said the figures released by the Ministry of Development Planning and Statistics. In absolute terms, Japan, Singapore, South Korea, India and China were among the largest export markets of Qatar; while imports mainly came from China, the US, Germany, India and Japan in September 2017. Fast expansion in shipments, especially to Singapore, China and South Korea led Qatar’s total exports (valued free-on-board) to reach QR20.56bn this September, showing a 20% yearly increase but 3.8% decline on a monthly basis. The country’s total exports of domestic products amounted to QR20.01bn in September this year, showing a 20% yearly jump but a 2.5% monthly fall. On a yearly basis, Qatar’s exports of non-crude in September more than doubled to QR1.67bn, those of crude soared 81.5% to QR4.45bn and other commodities by 21.8% to QR2.59bn; while those of petroleum gases were down 0.1% to QR11.39bn. On a monthly basis, Doha’s exports of petroleum gases shrank 13.6%; whereas those of non-crude expanded 29%, crude by 19.5% and other commodities by 7.1%. On exports destinations, Japan accounted for 17% of total exports from Qatar in September this year, Singapore 15%, South Korea 14%, India 12% and China 11%.

Qatar’s exports to Singapore almost tripled to QR2.99bn, those to China surged 76% to QR2.2bn, South Korea by 10.81% to QR2.87bn, Japan by 6.52% to QR3.43bn and India by about 1% to QR2.37bn. Against August 2017 levels, Doha’s exports to China had fallen 19.41%, India by 8.14% and South Korea by 1.71%; while those to Singapore and Japan witnessed 10.33% and 1.47% increase respectively.  The country’s re-exports expanded 17.3% year-on-year to QR0.47bn this September. On a monthly basis, it plunged 39.1%.

Qatar’s total imports (valued at cost insurance and freight) were valued at QR8.09bn in September 2017, showing 2.8% and 6.9% shrinkage on yearly and monthly basis respectively. China accounted for 13% of Qatar’s imports in September this year, the US 11%, Germany 9%, and India and Japan (6% each).  On a yearly basis, Qatar’s imports from Germany plummeted 22.91% to QR0.69bn, Japan by 18.56% to QR0.47bn and the US by 17.87% to QR0.87bn; while those from India shot up 87.64% to QR0.52bn and China by 19.93% to QR1.01bn.  Against the previous month’s levels, shipments from the US shrank 34.85%, Germany by 14.44% and India by 7.03%; but those from Japan rose 18.32% and China 8.71%.  Motorcars, turbojets and parts of aircraft and helicopters comprised the main components in Qatar’s import basket this September.  Doha imported motorcars worth QR0.33bn; turbojets, turbo propellers and other gas turbines (QR0.27bn), parts of aircraft and helicopters (QR0.2bn) and other commodities (QR7.29bn).