World Economy

Qatar Exports Surge by 18.4%

Qatar Exports Surge by 18.4%Qatar Exports Surge by 18.4%

Qatar’s exports of goods in March 2017 recorded a double-digit growth (year-on-year) compared to March 2016 as a result of higher exports of petroleum gases and other gaseous hydrocarbons.

The total value of exports of goods, including goods of domestic origin and re-exports, in March was nearly QR19.7 billion ($5.41 billion), showing an increase of 18.4% compared to the same month last year, Zawya reported.

However, when compared month-on-month basis, it was almost stable, showing a marginal increase of 0.1% compared to exports in February 2017, preliminary figures released by the ministry of development planning and statistics show.

The imports of goods in March 2017 amounted to around QR9.8 billion, showing a decrease of 9.6% compared to March 2016. However, on a month-on-month basis, the imports have jumped by 20%.

In March 2017, the foreign merchandise trade balance, which represents the difference between exports and imports, showed a surplus of QR9.9 billion, an increase of about QR4.1 billion, or 70.7%, compared to March 2016. When compared to February 2017, trade balance in March 2017 declined by QR1.6 billion, or 14%.

The year-on-year (March 2017-2016) increase in total exports in March was attributed to higher exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, and others) reaching about QR11.4 billion in March 2017, registering an increase of 18.1%, while a rise was shown in petroleum oils & oils from bituminous minerals (crude) reaching about QR3.3 billion, which increased by 42.8%, and increases in the petroleum oils & oils from bituminous minerals (not crude) reaching QR1.7 billion, up by 119%.

In March 2017, Japan was at the top of countries of destination of Qatar’s exports with close to QR3.7 billion, a share of 18.7% of total exports, followed by South Korea with nearly QR2.8 billion and a share of 14.3%, and India with about QR2.6 billion, a share of 13.2%.

During March 2017, motor cars and other passenger vehicles were at the top of the imported group of commodities, with QR700 million, showing a decrease of 9.2% compared to March 2016. In the second place was parts of aircraft and helicopters and others, with QR270 million, showing a decrease of 32.6%, and in the third place was electrical apparatus for line telephony/telegraphy, telephone sets and others; parts thereof with QR260 million, a decrease of 59.5%.

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