Qatar’s trade surplus at QR13.2bn in July this year

DOHA:  Qatar’s trade surplus in July 2019 stood at about QR13.2bn, showing a year-on-year decrease of about QR3.7bn, or 21.8 percent, compared to July 2018. When compared on monthly basis, it has declined by nearly QR700m, or 5.3 percent, compared to June 2019, preliminary figures released by the Planning and Statistics Authority show.

The foreign merchandise trade balance (which is usually a surplus in case of Qatar) represents the difference between total exports and imports for a period of time. The fall in the trade surplus was attributed to the fall in exports of hydrocarbons products and their derivatives.

The total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR22.3bn, showing a decrease of 16.0 percent compared to July 2018, and increased by 1.5 percent compared to June 2019.

On other hand, the imports of goods in July 2019 amounted to around QR9.1bn, showing a decrease of 6 percent over July 2018. However, on a month-on-month (m-o-m) basis the imports increased by 13.3 percent, reports QNA.

The year-on-year (July 2019 to July 2018) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane,) reaching QR13.4bn approximately in July 2019, a decrease of 17 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR3.8bn nearly, decreased by 14.5 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR2bn, decreased by 18.4 percent.

In July 2019, Japan was at the top of the countries of destination of Qatar’s exports with close to QR4.4bn, a share of 19.6 percent of total exports, followed by China with almost QR3.3bn and a share of 14.8 percent, India with about QR3bn, a share of 13.2 percent.

During in July 2019, the group of “Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR900m, showing a increase of 54.0 percent compared to July 2018. In second place was “Parts Of Balloons, Parts Of Aircraft, Spacecraft” with QR300m, showing a increased by 7.5 percent, and in third place was “Electrical Apparatus For Line Telephony/Telegraphy, Telephone Sets, Parts Thereof” with QR300m, increase of 31.3 percent.

In July 2019, United State of America was the leading country of origin of Qatar’s imports with about QR1.5bn, a share of 16.0 percent of the imports, followed by China with QR1.3bn almost, a share of 13.9 percent, and United Kingdom with QR800m, a share of 8.4 percent.

Source from: The Peninsula