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Qatar’s trade surplus rises by 28.1%, hits QR16.2bn last month

Qatar’s trade surplus rises by 28.1%, hits QR16.2bn last month

Doha: Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of about QR16.2bn, an increase of about QR3.6bn or 28.1 percent in November 2018, compared to same month in 2017, and decreased by nearly QR2.8bn or 14.8 percent compared to October 2018.

According to the Planning and Statistics Authority, which released preliminary figures of the value of exports of domestic goods, re-exports, and imports for November 2018, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR25.7bn in November 2018, showing an increase of 19.1 percent compared to November 2017, and decreased by 10.7 percent compared to October 2018.

The imports of goods in November 2018 amounted to around QR9.5bn, showing an increase of 6.4 percent over November 2017. However, on a month on month (M-o-M) basis the imports decreased by 2.8 percent.

The year on year (November 2018 to November 2017) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc) reaching QR15.4bn approximately in November 2018, an increase of 25.3 percent, Petroleum oils & oils from bituminous minerals (crude) reaching about QR4.4bn, increased by 18.3 percent and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR2bn, decreased by 12.3 percent.

In November 2018, Japan was at the top of the countries of destination of Qatar’s exports with close to QR4.6bn, a share of 18.1 percent of total exports, followed by South Korea with almost QR4.6bn and a share of 17.7 percent, India with about QR3bn, a share of 11.6 percent.

In November 2018, the group of “Motor cars & other passenger vehicles” was at the top of the imported group of commodities, with QR0.4bn, showing a decrease of 20.9 percent compared to November 2017.

In second place was “Parts of Balloons etc; Parts Of Aircraft, Spacecraft etc” with QR0.3bn, showing an increase by 18.4 percent, and in third place was “Turbojets, turbo propellers & other gas turbines; parts thereof” with QR0.3bn, a decrease of 37.1 percent.

In November 2018, United State of America was the leading country of origin of Qatar’s imports with about QR1.9bn, a share of 20.1 percent of the imports, followed by China with almost QR1.2bn, a share of 12.9 percent, and Germany with QR0.7bn, a share of seven percent.