Qatar trade balance at QR31.3bn

Qatar posted a trade balance of QR31.3bn in May, up 0.5% year-on-year backed by higher revenues from exports, according to Statistics Authority data yesterday. Total exports in May stood at QR39.6bn and imports QR8.3bn. Total exports rose in May despite a drop in exports of some hydrocarbon commodities. Japan topped the export destination in May and accounted for 29% of Qatar’s exports followed by South Korea (16%) and India (10%0.

Among Qatar’s major import items in May were motor cars and other vehicles and aircraft spares. The US was the major exporter to Qatar in May (15%) followed by China (10%) and the UAE (7%).