Qatar’s foreign trade balance (which represents the difference between total exports and imports) showed a surplus of QR11.9bn, an increase of about QR5.2bn or 78.1% compared to July 2016, and a decrease by nearly QR0.6bn or 4.8% compared to June 2017.
This was shown in the preliminary report released by the Ministry of Development Planning and Statistics, on the value of exports of domestic goods, re-exports, and imports for July 2017.
In July 2017, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR18.1bn, an increase of 11.4% compared to July 2016, and a decrease by 1.2% compared to June 2017.
On other hand, imports of goods in July 2017 amounted to around QR6.2bn, showing decrease of 35.0% over July 2016.
However, on a month-on-month (m-o-m) basis, imports increased by 6.3%.
In July 2017, the foreign trade balance, which represents the difference between total exports and imports, showed a surplus of almost QR11.9bn, i.e. an increase of about QR5.2bn, or 78.1%, compared to July 2016, and a decrease by nearly QR0.6bn or 4.8% compared to June 2017.
The year-on-year (July 2017 to July 2016) increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc), reaching 11.2bn approximately in July 2017, i.e. an increase of 7.8%, while the decrease was in petroleum oils & oils from bituminous minerals (crude), reaching QR2.5bn nearly, a decrease by 0.4%, and increase in the petroleum oils & oils from bituminous minerals (not crude) reaching QR1.5bn, an increase by 97.7%.
In July 2017, South Korea was the top destination for Qatar’s exports, at close to QR3.1bn, a share of 17.3% of total exports, followed by China, at almost QR2.7bn and a share of 14.6%, Japan at about QR2.3bn, a share of 12.9%.
During July 2017, the ‘motor cars & other passenger vehicles’ segment was at the top in imported goods, at QR0.4bn, showing a decrease of 16.6%, compared to July 2016.
At the second place was ‘turbo-jets, turbo propellers & other gas turbines and parts thereof’ at QR0.3bn, showing a decrease by 19.8%, and at the third place was ‘parts of aircraft and helicopters etc’, at QR0.3bn, — a decrease of 40.5%.
In July 2017, the US was the leading country of origin for Qatar’s imports at about QR1.0bn, a share of 16.1% of the total imports, followed by China at QR0.7bn almost — a share of 11.1%, and Japan at QR0.4bn, a share of 6.7%.