Qatar's Trade Surplus Doubles to QR 9.8 Billion in April 2017

May 28, 2017

Qatar's trade balance registered a surplus of QR9.8 billion in April 2017, an impressive 105 percent increase from a year ago.

According to imports and exports data released by the Ministry of Development, Planning and Statistics (MDPS) on Saturday, the country registered exports worth QR18.8 billion and imports worth QR8.9 billion.

While exports recorded a year-on-year increase of 25.1 percent and a month-on-month decline of 4.5 percent, imports showed a decrease of 12.5 percent year-on-year and 8.8 percent month-on-month.

In September, the foreign merchandise trade balance that represents the difference between total exports and imports recorded an annual increase of QR5 billion. When compared with the March figure, the trade balance shows a decreased of nearly QR0.03 billion or 0.3 percent.

The year-on-year increase is attributed to exports of petroleum gases and other gaseous hydrocarbons such as LNG, condensates, propane and butane. Their exports jumped to 33.2 percent from a year ago to QR11.5 billion in April.

Petroleum oils and oils from bituminous minerals (crude) worth QR2.8 billion was exported last month, accounting for an annual increase of 20.6 percent. Meanwhile, export of petroleum oils and oils from bituminous minerals (not crude) stood at QR1.2 billion, which is an increase of 75.7 percent.

Japan was Qatar's top export destination in April, accounting for QR2.8 billion or 14.9 percent of the total exports in the month. It is followed by South Korea with almost QR2.4 billion or 12.8 percent and India with QR2.3 billion or 12.1 percent. 

Motor cars and other passenger vehicles made up the bulk of Qatar's imports, accounting for QR0.6 billion of the total. It is, however, a decline of 25.3 percent compared with the April 2016 figure. 
In April 2017, the United State imported the most amounts of goods from Qatar, accounting for QR1.1 billion or 11.9 percent of the total exports. It is followed by China” with QR1 billion or 11.4 percent, and the United Arab Emirates” with QR1 billion or 10.7 percent.