Qatar Foreign Merchandise Trade Surplus QR 11 Billion in January, 2017

 

February 27, 2017

 

The Ministry of Development Planning and Statistics has released preliminary figures of the value of exports of domestic goods, re-exports, and imports for January 2017. A brief analysis of the data is given below: In January 2017, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR20.3 billion, showing an increase of 16.2% compared to January 2016, and increased by 5.3% compared to December 2016. 


On other hand, the imports of goods in January 2017 amounted to around QR 9.3 billion, showing decrease of 12.9% over January 2016. However, on a month on month (M-o-M) basis the imports increased by 9.1%. 


In January 2017, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 11.0 billion almost, an increase of about QR 4.2 billion or 62.2% compared to January 2016, And increased by nearly QR 0.2 billion or 2.3% compared to December 2016. 


The year on year (January 2017 to January 2016) increase in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching 13.3 billion approximately in January 2017, i.e. an increase of 13.7%, while increase was shown in Petroleum oils & oils from bituminous minerals (crude) reaching QR 2.4 billion nearly, increased by 48.2%, and increases in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR 1.2 billion, increased by 57.4%. 


In January 2017, Japan was at the top of the countries of destination of Qatar’s exports with close to QR 4.4 billion, a share of 21.8% of total exports, followed by South Korea with almost QR 3.5 billion and a share of 17.3%, India with about QR 2.4 billion, a share of 11.9%. 


During January 2017, Motor cars & other passenger vehicles, was at the top of the imported group of commodities, with QR 0.6 billion, showing a decrease of 27.8% compared to January 2016. In second place was Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc. With QR 0.3 billion, showing an increase by 3.8%, and in third place was Structures Nes. & Parts Thereof, of Iron or Steel, with QR 0.1 billion, increased of 7.2%. 


In January 2017, China was the leading country of origin of Qatar’s imports with about QR 1.3 billion, a share of 13.6% of the imports, followed by United State of America with QR 1.1 billion almost, a share of 11.6%, and United Arab Emirates with QR 0.9 billion, a share of 9.7%.