Qatar Trade
Balance Registers QAR 5.3 Billion Surplus in May 2020
28 June
2020
Qatari Planning and Statistics Authority (PSA) has issued its
preliminary report on the external trade for the month of May 2020. The
report covers data on exports (of local origin and re-export) and
imports. Below is a summary
data as published in the PSA report:
Total Qatari exports (including exports of local origin and
re-export) during May 2020 amounted nearly QAR 13.3 billion, a decline
of 41.4% against April 2019 figures, and a and an increase of 12.1%
against April 2020 figures.
On the other side, the value of commodities imports was reduced by
13.7% (QAR 7.9 billion) compared to May 2019, an increase of 6.0% over
the preceding month April 2020.
In light of the above, the commodities trade balance, which
represents the difference between total exports and total imports during
May 2020, has achieved a
surplus of QAR 5.3 billion, recording a decrease by 60.4% (QAR 8.1
billion) compared to the parallel month last year 2019, and an increase
by 22.5% (QAR1.0 billion) against the preceding month April 2020.
Comparing May 2020 to May 2019, the value of the exports of
petroleum gas and other hydro carbonic gases (representing Liquefied
Natural Gas LNG, Condensates, Propane, Butane … etc.) has declined by
39.7% to nearly QAR 8.2 billion, whilst the value of the petroleum oils
and raw bituminous mineral oils materials declined by 67.5% to roughly
QAR 1.3 billion. Moreover, the value of the exports of petroleum oils
and oils extracted from non-raw bituminous mineral materials reduced by
68.8% amounting nearly QAR 0.5 billion.
On the level of ‘exports to major countries, destination-wise’,
South Korea has occupied the lead position for Qatari exports during May
2020, with exportation value of nearly QAR 2.1 billion, representing
15.9% of the total Qatari exportation value. Followed by China at QAR
1.9 billion, 14.1%, and Japan at QAR 1.6 billion, 11.9% of the total
Qatari exportation value.
During, May 2020, ‘jet turbines with
a thrust force exceeding 25 kN’ category topped the commodities exports,
for a total value of QAR 1.0 billion, an increase of 55.8%. Followed by
‘ordinary aircrafts spare parts and helicopters parts’ category, with a
total amount of QAR 0.3 billion, declining by 15.7%, then the
‘automobile designed basically for passengers transportation’ category
by nearly QAR 0.2 billion, declining by 52.1% compared to May 2019.
On ‘country of origin-based-imports’ level, China occupied the lead
position for Qatari importation during May 2020 at an importation value
of nearly QAR 2.1 billion representing 26.5% of the Qatari total
commodities imports, followed by the United Kingdome at QAR 1.3 billion,
representing 16.5% and then China at QAR 1.1 billion, representing 13.3%
of the Qatari total importation value.