DOHA: Qatar’s trade surplus, which is the difference between total exports and imports, reached a surplus of QR16.9bn, showing an increase of QR5bn or 42.7 percent compared to July 2017. The huge rise in surplus shows that Qatar’s economy remains on firm footing.
According to preliminary figures of the value of exports of domestic goods, re-exports, and imports released yesterday by the Ministry of Development Planning and Statistics the trade balance decreased by nearly QR1.1bn or 6.1 percent compared to June 2018.
In July 2018, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR26.6bn, registering an increase of 45.3 percent compared to July last year, while it fell by 1.1 percent compared to June this year.
The imports of goods in July 2018 amounted to around QR9.7bn, showing an increase of 50 percent over July 2017. However, on a month on month (M-o-M) basis the imports increased by 9 percent.
The year-on-year (July 2018 to July 2017) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc) that reached QR16.2bn approximately in July 2018, showing an impressive increase of 42.3 percent.
Petroleum oils & oils from bituminous minerals (crude) reached QR4.5bn, increasing by 82 percent, and the Petroleum oils & oils from bituminous minerals (not crude) increased by QR2.4bn, showing a rise of 60.6 percent.
In July this year, Japan was at the top of the countries of destination of Qatar’s exports with close to QR5.2bn, having a share of 19.6 percent in total exports, followed by the South Korea with almost QR4bn and a share of 15.2 percent while India with about QR2.8bn exports, had a share of around 10.6 percent.
During July 2018, the group of “Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof “ was at the top of the imported group of commodities, with QR0.6bn, showing an increase of 81.1 percent compared to July 2017.
In second place was “Motor cars and other passenger vehicles “ with QR0.3bn, decrease of 24.9 percent and in third place was “Parts of Balloons Etc.; Parts of Aircraft, Spacecraft Etc.” with QR0.3bn, showing an increase by 0.7 percent.
In July 2018, United State of America was the leading country of origin of Qatar’s imports with about QR1.4bn, having a share of 14.6 percent in the imports, followed by China with QR1.2bn, a share of 12.8 percent, and Germany with QR0.8bn, having a share of 7.8 percent.
