Trade surplus dips 19.9pc in September to QR26.3bn

30/10/2014 06:07 AST

Qatar’s trade balance of goods, year-on-year trade surplus in September shrank 19.9 percent to QR26.3bn from QR32.8bn in September 2013, according to preliminary figures released by the Ministry of Development Planning and Statistics yesterday.

The trade balance represented the difference between total exports and imports of goods which declined by QR6.5bn in September 2014 compared to a year earlier. In September 2014, the total exports of goods (including exports of domestic origin and re-exports) amounted to QR36.1bn, showing a decrease of 13.4 percent compared to the corresponding month of 2013.

On the other hand, the imports of goods in September 2014 amounted to QR9.8bn, showing an increase of 10.5 percent over the value recorded in the same month last year.

The year-on-year decrease in total exports was attributed to mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, and other) reaching QR21.9bn in September 2014, a decrease of 12.1 percent compared to September 2013, and Petroleum oils and oils from bituminous minerals (crude) reaching QR6.2bn (20.1 percent), and Petroleum oils and oils from bituminous minerals (not crude) to reach QR2.2bn (26 percent).

In September 2014, Japan topped the export destination with QR8bn, a share of 22.2 percent of total exports, South Korea with QR6.3bn (17.5 percent), then India with QR5.2bn (14.5 percent).

During September 2014, Motor cars and other passenger vehicles was at the top of the imported group of commodities amounted QR800m, showing an increase of 7.5 percent compared to September 2013. In second and third place were imports of heavy vehicles (Motor Vehicles For The Transport Of Goods) with QR200m, increased by 58.3 percent, and Electrical Apparatus For Line Telephony/Telegraphy, telephone sets and other; parts thereof with QR200m, increased by 11.5 percent.

The Peninsula