28/07/2016 06:09 AST
Qatar’s trade surplus in June 2016 stood at QR8.3bn, up nearly QR800m, or 10.6 percent, compared to QR7.5bn witnessed in May 2016, data released by the Ministry of Development Planning and Statistics show.
However, when compared on year-on-year (y-o-y) basis, the trade surplus (the difference between exports and imports of goods) in June 2016 registered a decline of QR6.6bn, or 44.4 percent, compared to June 2015.
The value of Qatar’s foreign trade in goods (including imports, exports, and re-exports) in June 2016 remained almost flat at QR26.49bn, showing a marginal growth of about 0.11 percent compared to QR26.46bn in the previous month.
The value of Qatar’s total exports of goods (including exports of goods of domestic origin and re-exports) in June touched QR17.4bn, witnessing a month-on-month (M-o-M) increase of 2.4 percent compared to QR16.99bn in May 2016. However, when compared on year-on-year basis the exports have declined by 28.1 percent compared to QR24.19bn in June 2015.
On the other hand, the imports of goods in June 2016 amounted to around QR9.1bn, showing a decrease of 1.6 percent against June 2015. However, when compared on M-o-M basis the imports showed a decrease of 4.1 percent.
The reason for the year-on-year decrease in total exports in June 2016 was attributed to lower exports of petroleum gases and other gaseous hydrocarbons (liquefied natural gas, condensates, propane, butane, and other) reaching QR10.3bn approximately in June 2016, a decrease of 29.3 percent, petroleum oils and oils from bituminous minerals (crude) reaching at QR3.1bn nearly, decreased by 22 percent, as well as the petroleum oils and oils from bituminous minerals (not crude) reaching QR1bn, decreased by 29.2 percent.
In June 2016, South Korea was at the top of the countries of Qatar’s exports destinations, with close to QR3bn, a share of 17.3 percent of total exports, followed by Japan with almost QR2.9bn and a share of 16.8 percent. India stood at third place in terms of Qatar’s export destination with the total value reaching at about QR2.6bn, accounting for14.8 percent share of total.
During June 2016, Motor cars and other passenger vehicles was at the top of the imported group of commodities, with QR600m, showing a decrease of 27.7 percent compared to June 2015. In second place was Turbojets, turbo propellers and other gas turbines; parts Thereof, with QR400m, showing an increase by 497 percent, and in third place was Parts of aircraft, helicopters and other, with QR300m, decreased of 69.7 percent.
In June 2016, China was the leading country of origin of Qatar’s imports with about QR1.3bn, a share of 14.1 percent of the imports, followed by USA with QR1.1bn, a share of 12.6 percent, and Germany with QR1bn, a share of 10.5 percent.
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