Qatar Foreign Merchandise Trade Surplus Records QR 9.9 billion in March 2017

April 30, 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 March 2017.

In March 2017, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR19.7 billion, showing an increase of 18.4% compared to March 2016, and increased by 0.1% compared to February 2017.

On other hand, the imports of goods in March 2017 amounted to around QR 9.8 billion, showing decrease of 9.6% over March 2016. However, on a month on month (M-o-M) basis the imports increase by 20.0%.

In March 2017, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 9.9 billion almost, i.e. a increase of about QR 4.1 billion or 70.7% compared to March 2016, And decreased by nearly QR 1.6 billion or 14.0% compared to February 2017.

The year on year (March 2017 to March 2016) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching 11.4 billion approximately in March 2017, i.e. an increase of 18.1%, while increase was shown in Petroleum oils & oils from bituminous minerals (crude) reaching QR 3.3 billion nearly, increased by 42.8%, and increases in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR 1.7 billion, increased by 119.0%.

In March 2017, Japan was at the top of the countries of destination of Qatar’s exports with close to QR 3.7 billion, a share of 18.7% of total exports, followed by South Korea with almost QR 2.8 billion and a share of 14.3%, India with about QR 2.6 billion, a share of 13.2%.

Motor cars & other passenger vehicles, during March 2017, was at the top of the imported group of commodities, with QR 0.7 billion, showing a decrease of 9.2% compared to March 2016. In second place was Parts of aircraft and helicopters etc., With QR 0.27 billion, showing an decrease by 32.6%, and in third place was Electrical Apparatus For Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof with QR 0.26 billion, decrease of 59.5%.

In March 2017, United State of America was the leading country of origin of Qatar’s imports with about QR 1.2 billion, a share of 12.2% of the imports, followed by Germany with QR 0.91 billion almost, a share of 9.3%, and United Arab Emirates with QR 0.90 billion, a share of 9.2%.