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Qatar's Trade Surplus Rises 42% to QR10.7 Billion in May
June 20, 2017
Qatar's trade balance registered a surplus of QR10.7 billion in May
2017, an impressive 41.7-percent increase from a year ago and a
12.1-percent hike from April, 2017.
According to exports and imports data released by the Ministry
of Development Planning and Statistics (MDPS) on Monday, the
country registered exports worth QR20.2 billion and imports
worth QR9.5 billion in May.
While exports recorded a year-on-year jump of 18.4 percent and a
month-on-month increase of 7.6 percent, imports showed a
0.3-percent decline from May 2016 and 5.8-percent decrease from
April 2017.
In September, the foreign merchandise trade balance that
represents the difference between total exports and imports
recorded an annual increase of $3.2 billion.
The year-on-year increase is attributed to exports of petroleum
gases and other gaseous hydrocarbons such as LNG, condensates,
propane and butane, which amounted to $12 billion in May 2017,
an increase of 21.6 percent from a year ago.
Petroleum oils and oils from bituminous minerals (crude) worth
QR3.3 billion was exported last month, an increase of 8.3
percent from April 2017.
Meanwhile, export of petroleum oils and oils from bituminous
minerals (not crude) reached QR1.1 billion, showing an annual
increase of 29.7 percent.
In May, Japan was Qatar's top exports destination, accounting
for 15.9 percent or QR3.2 billion of the total exports.
It is followed by South Korea with almost 14.3 percent (QR3.2
billion) and Singapore with 11.2 percent (QR2.3 billion).
Turbojets, turbo propellers and gas turbines made up the bulk of
imports to Qatar in May, accounting for QR0.6 billion” an
increase of 69.6 percent compared to May 2016.
It is followed by motor cars and other passenger vehicles” which
showed an annual decrease of 0.6 percent to QR0.5 billion” and
electrical apparatus for line telephony/telegraph and telephone
sets” which recorded an annual decline of almost 37 percent to
QR0.2 billion.
In May, Germany imported the most amounts of goods to Qatar,
accounting for 11 percent or QR1 billion of the total share.
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