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Qatar’s trade surplus drops 36.7%

Qatar’s trade surplus drops 36.7%

DOHA: The difference between total exports and imports showed a decrease of QAR12.6bn, or 53.6%, compared to November 2014.

November saw the value of Qatar’s total export of goods, including exports of goods of domestic origin and re-exports, standing at QAR21.3bn

This is a 36.7% decrease year-on-year and a 5.9% decline, month-on-month.

November imports, however, touched QAR10.4bn, an increase of 2.8% over November 2014.

Preliminary figures released by the Ministry of Development Planning and Statistics noted however, on a month-on-month basis, the imports decreased by 0.1%.

The difference between total exports and imports showed a surplus of QAR10.9bn in November 2015, a decrease of QAR12.6bn, or 53.6%, compared to November 2014.

The trade balance increased by QAR1.3bn, or 10.7%, compared to October 2015.

Lower exports of petroleum gases and other gaseous hydrocarbons was responsible for the year-on-year decrease in total exports, reaching QAR13.3bn in October 2015, a decrease of 40.6%, The Peninsula reports.

In November 2015, Japan was the biggest market for Qatar, coming in at QAR4.2bn, 19.5% of total exports, followed by South Korea with QAR3.5bn (16.7%), and India with QAR2.4bn, a share of 11.3%.

Motor cars and other passenger vehicles was at the top of the imported group of commodities, with QAR1.0bn, showing a decrease of 6.1% compared to November year-on-year.

Aircraft and helicopters etc parts comprised QAR0.6bn, a decrease of 5.3% followed by electrical apparatus telephone sets etc accounting for QAR0.3bn, an increase by 21.3%.