Qatar imports rebound in August; sanctions impact fading
September 27 2017 10:17 AM
Qatari companies and foreign shippers have sought to establish new shipping routes to Qatar since the diplomatic crisis began.


The value of Qatar's imports rebounded sharply in August from July, government data showed on Wednesday, suggesting the economic impact of sanctions imposed by other Arab states is fading.
Imports plunged by over a third after Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Doha on June 5.
The sanctions - over accusations of supporting terrorism, which Doha denies - disrupted shipping routes to Qatar and closed its land border with Saudi Arabia, over which food and building materials were imported.
In August, however, imports jumped 39.1% to QR8.68bn ($2.38bn), the Ministry of Development Planning and Statistics said.
Imports were 7.8% below their year-earlier levels, but that still marked a major recovery from levels of June and July, when they dropped more than 35% year on year.
Since the diplomatic crisis erupted, Qatari companies and foreign shippers have sought to establish new shipping routes to Qatar via other countries including Oman, compensating for the loss of Dubai as a trans-shipment centre.
Those efforts now appear to be bearing fruit.
Imports of large equipment recovered sharply in August after being slowed for a couple of months by the disruption to shipping routes.
Gas turbine equipment, some of it used in the production of natural gas, increased 76.5% from a year ago to QR630mn while aircraft parts surged 39.7% to QR306mn.
Motor vehicle imports continued to slump, however. They were down 57.8% from a year earlier at QR267mn.
Qatar's exports, the vast majority of them natural gas and oil, climbed 17.7% year-on-year to QR21.30bn in August. As a result, its trade surplus expanded 45.4% to QR12.62bn. 

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