DOHA: Qatar’s trade balance, the difference between exports and imports, recorded a surplus of QR17.5bn for the month of August. This is QR5bn higher compared to the same period of last year, or 39.5 percent year-on-year (y-o-y).
Sequentially, it represents a growth of QR0.6bn, or 3.7 percent, according to data released by the Ministry of Development Planning and Statistics, yesterday.
The report showed that the month of August 2018 showed total exports of goods (including exports of goods of domestic origin and re-exports) amounting to around QR26.4bn, showing an increase of 23.3 percent compared to August 2017, and decreased by 0.7percent compared to July 2018.
On other hand, the imports of goods in August 2018 amounted to around QR 8.9bn, showing an increase of 0.3 percent over August 2017. However, on a month on month basis the imports decreased by 8.5 percent.
The year on year (August 2018 to August 2017) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR16.9bn approximately in August 2018, an increase of 28.1 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR4.3bn nearly, increased by 15.7 percent, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR1.6bn, increased by 20.4 percent.
India was at the top of the countries of destination of Qatars exports in August, with close to QR4.4bn.
This represents a share of 16.6 percent of total exports. It was followed by South Korea with almost QR4.4bn and a share of 16.6 percent. Japan was third with about QR3.9bn, a share of 14.9 percent, reports QNA.
During August 2018, the group of “Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof “ was at the top of the imported group of commodities, with QR 0.4 bn, showing a decrease of 39.0 percent compared to August 2017. In second place was “Parts of Balloons etc; Parts of Aircraft, Spacecraft Etc” with QR0.3bn, decrease of 8.2 percent and in third place was “Motor cars & other passenger vehicles” with QR0.2bn, showing a decrease by 12.8 percent.
In August 2018, United State of America was the leading country of origin of Qatar’s imports with about QR 2.3bn, a share of 26.0 percent of the imports, followed by China with QR1bn almost, a share of 11.1 percent, and India with QR0.6bn, a share of 6.2 percent.
