Qatar trade surplus expands 2% to QR32.97bn in August
October 10 2013 02:42 AM
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By Santosh V Perumal

Business Reporter

 

 

 

Qatar’s trade surplus expanded about 2% year-on-year (y-o-y) to QR32.97bn this August, mainly on robust exports of petroleum gases.

The trade surplus has been achieved despite imports growing faster than exports, according to the preliminary estimates of the Ministry of Development Planning and Statistics (MDPS).

The energy-rich Gulf country’s total exports (valued free-on-board) expanded 3.8% to QR40.91bn as there was large double-digit growth in shipments to China and India.

Japan continued to be the top destination of Qatar’s exports, followed by South Korea, India, China and the UAE.

Qatar’s re-exports surged 26.5% to QR332mn during the review period.

The country’s total exports of domestic products rose 3.6% to QR40.58bn in August this year.

Qatar’s exports of petroleum gases and other gaseous hydrocarbons (as liquefied natural gas, condensates, propane and butane) witnessed a healthy 17.60% growth to QR26.28bn.

However, non-crude petroleum oils and oils from bituminous minerals shrank 20.7% to QR2.35bn, other commodities by 17.5% to QR4.42bn and crude petroleum oil and oil from bituminous minerals by 11.5% to QR7.53bn.

The decline in crude and non-crude petroleum oils has been owing to increased domestic consumption, MDPS said.

Petroleum gases and other gaseous hydrocarbons constituted 64.76% of total exports of domestic products in August this year compared to 57.03% the year-ago period, crude petroleum oils 18.56% (21.73%), non-crude petroleum oils and bituminous minerals 5.79% (7.58%) and other commodities 10.89% (13.66%).

On the country’s exports destinations, Japan accounted for 27.43% of Qatar’s total exports in August 2013 against 27.69% the previous year period, South Korea 15.03% (18.29%), India 13.3% (9.71), China 6.60% (3.78%) and the UAE 5.6% (5.91%).

Qatar’s exports to China surged 81.4% to QR2.7bn, India by 42% to QR5.44bn and Japan by 2.8% to QR11.22bn; while those to South Korea plunged 14.7% to QR6.15bn and the UAE by 1.40% to QR2.29bn.

Total imports (valued at cost insurance and freight) shot up 12.20% y-o-y to QR7.94bn in August this year, mainly on double-digit growth shipments from Italy, the US and China.

Motor cars and other passenger vehicles, aircraft spare parts, and articles of iron and steel were the main imported products in August 2013.

The imports of articles of iron and steel more than tripled to QR302mn, aircraft spare parts grew 31.3% to QR497mn and other commodities by 10.1% to QR6.43bn; even as those of motor cars and other passenger vehicles fell 7.60% to QR712mn.

Other commodities constituted 80.98% of Qatar’s total imports in August 2013 against 82.49% the previous year period, motor cars and other passenger vehicles 8.94% (10.88%), aircraft spare parts 6.3% (5.37%) and articles of iron and steel 3.78% (1.27%).

The US, China, Italy, Japan and the UAE were among the top five destinations from where Qatar imported merchandise goods.

The US accounted for 14.61% of Qatar’s imports this August compared to 11.30% the year-ago period, China 10.33% (9.46%), Italy 6.80% (4.66%), Japan 6.3% (8.9%) and the UAE 6.05% (7.91%).

Qatar’s imports from the US zoomed 45.30% to QR1.16bn, Italy by 61.90% to QR539mn and China by 21.3% to QR815mn; while those from Japan fell 20.4% to QR503mn and the UAE by 15.3% to QR478mn.

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