Qatar's trade surplus at QR12.3bn in Feb

27/03/2017 05:59 AST

Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR12.3bn in February, a increase of about QR5.2bn or 74 percent compared to February 2016.

The trade balance has risen by nearly QR1.3bn or 12.1 percent compared to January 2017, said the Ministry of Development Planning and Statistics data released yesterday. In February 2017, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR20.5bn, showing an increase of 22.5 percent compared to February 2016, and increased by 0.8 percent compared to January 2017. The imports of goods in February 2017 amounted to around QR8.2bn, showing decrease of 15.4 percent over February 2016. However, on a month on month basis the imports decrease by 12.6 percent.

The year on year (February 2017 to February 2016) increase in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR12.2bn approximately in February 2017, an increase of 18.9 percent.

Increase was seen in Petroleum oils & oils from bituminous minerals (crude) that reached nearly QR3.5bn, registering a rise of 46.8 percent. The Petroleum oils & oils from bituminous minerals (not crude) reached QR1.3bn, showing a increase by 68 percent.

In February 2017, Japan was at the top of the countries of destination of Qatar’s exports with close to QR3.9bn, a share of 19.1 percent of total exports, followed by South Korea with almost QR3.6bn and a share of 17.5 percent, India with about QR2.3bn, a share of 11.3 percent.

During February 2017, Motor cars & other passenger vehicles, was at the top of the imported group of commodities, with QR0.5bn, showing a decrease of 34.4 percent compared to February 2016. In second place was Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc; Parts Thereof.

With QR0.4bn, showing an increase by 56 percent, and in third place was parts of aircraft and helicopters etc., with QR0.2bn, decrease of 58.9 percent.

In February 2017, China was the leading country of origin of Qatar’s imports with about QR1.05bn, a share of 12.9 percent of the imports, followed by United State of America with QR1.02bn- a share of 12.5 percent, and United Arab Emirates with QR0.8bn, a share of 9.5 percent.

The Peninsula