World Economy

Qatar’s 2017 Trade Surplus Jumps 49%

Qatar’s 2017 Trade Surplus Jumps 49%Qatar’s 2017 Trade Surplus Jumps 49%

Qatar’s trade surplus expanded about 28% year-on-year to QR35.83 billion ($9.84 billion) in the fourth quarter of 2017 as exports grew faster than imports, according to the official figures. The country’s trade surplus for the entire 2017 saw a 49% year-on-year growth to QR136.83 billion as exports witnessed double-digit growth, while imports were on the decline, the ministry of development planning and statistics said, Arabian Business reported. During Q4, the country’s exports grew 21% to QR68.47 billion, mainly due to higher shipments of mineral fuels, lubricants and related materials and manufactured goods. Imports were up 14% to QR32.64 billion in Q4, on account of higher intake of machinery and transport equipment, food and live animals and chemicals and related products. Among Asia, Japan was the major destination of the exports with QR11.7 billion (17.1% of Qatar’s total exports), followed by South Korea QR11.1 billion (16.2%) and India QR9.5 billion (13.8%); whereas China was the principal origin of imports with QR4 billion (12.2% of total), India QR2 billion (6%) and Japan QR1.5 billion (4.5%).


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