Qatar Trade Surplus Surges

Qatar’s trade surplus expanded to QR12.8 billion ($3.52 billion) in November, a 32% jump from a year ago and 54.8% surge from the previous month, a preliminary data released by the ministry of development planning and statistics showed.

In November, the total exports of goods, including exports of goods of domestic origin and re-exports, amounted to around QR21.8 billion, an increase of 15.9% compared to November 2016, and an increase by 3.8% compared to October 2017, The Peninsula reported.

On other hand, the imports of goods in November stood at QR8.9 billion, down 2% from a year ago. On month-on-month, imports declined by 26.9%.

The year-on-year increase in total exports was mainly driven by exports of petroleum gases and other gaseous hydrocarbons like LNG, condensates, propane, butane, etc, which touched QR12.3 billion in November, reflecting an increase of 6.2%. The value of petroleum oils & oils from bituminous minerals (crude) reached nearly QR3.7 billion, up 23.5% and petroleum oils & oils from bituminous minerals (not crude) reached QR2.3 billion, a 142.8% jump.

In November, South Korea was at the top of the countries of destination of Qatar’s exports with close to QR4.2 billion, a share of 19.1% of total exports, followed by Japan with almost QR3.5 billion and a share of 16.1%, India with about QR2.7 billion, accounting for 12.3% of total exports.

The group of ‘Motor cars and other passenger vehicles’ was at the top of the imported group of commodities, with QR0.5 billion, showing a decrease of 39.2% compared to November 2016. In second place was ‘turbojets, turbo propellers and other gas turbines’ with QR0.4 billion, showing an increase by 5.5% and in third place was ‘electrical apparatus for line telephony/telegraphy, telephone sets etc’, with QR0.3 billion, an increase of 27.1%.