Qatar trade surplus jumps to QR16.35bn in January

Qatar's trade surplus recorded QR16.35bn in January 2018, representing 52% growth on a yearly basis and 10% month-on-month, according to official figures.

The country's exports grew much faster than imports, thus helping register a robust two-digit expansion in trade surplus year-on-year, according to the figures released by the Ministry of Development Planning and Statistics.In absolute terms, South Korea, Japan, China, India and Singapore were among the largest export markets of Qatar; while imports mainly came from China, the US, India, Japan and Germany this January.Faster expansion in the shipments to Singapore, China and South Korea led Qatar’s total exports (valued free-on-board) to reach QR25.93bn in January 2018, showing a 29% yearly increase. On a monthly basis, it was up mere 0.1%.A robust double-digit surge especially in the shipments of crude and petroleum gases helped Qatar’s total exports of domestic products grow about 33% year-on-year to QR25.35bn. On a monthly basis, the growth was a meager 0.2%.On a yearly basis, Doha's crude exports vaulted 77% to QR4.2bn, petroleum gases by 28% to QR16.88bn, other commodities by 22% to QR2.56bn and non-crude by 17% to QR1.71bn this January.On a monthly basis, the country's shipments of petroleum gases increased 18% and non-crude by 1%; whereas those of crude plummeted 35% and other commodities by 9% in the review period.Petroleum gases constituted 67% of total exports of domestic products in January 2018 compared to 69% in the corresponding period of 2017; crude 17% (12%), other commodities 10% (11%) and non-crude 7% (8%).On exports destinations, South Korea accounted for 19% of total exports from Qatar this January, Japan 18%, China 13%, India 11% and Singapore 8%.Qatar's exports to Singapore more than tripled year-on-year to QR2.02bn; those to China surged 51% to QR3.25bn; South Korea by 34% to QR4.88bn and India by 10% to QR2.65bn; whereas those to Japan declined 1% to QR4.48bn.Against December 2017 levels, Doha's exports to South Korea expanded 28%, while those to Singapore reported 37% plunge, India by 19% and Japan by 10%. The shipment to China rather treaded a flat course.The country's re-exports amounted to QR0.58bn in January 2018, which represented 44% and 2% decline on yearly and monthly basis respectively.Qatar's total imports (valued at cost insurance and freight) were up 2% year-on-year to QR9.58bn this January. However, it registered 13% decline month-on-month.China and the US accounted for 14% each of Qatar's imports in January this year; and India, Japan and Germany 6% each.On a yearly basis, Qatar's imports from India soared 61% to QR0.59bn, the US by 20% to QR1.37bn and China by 9% to QR1.38bn; whereas those from Germany shrank 11% to QR0.53bn and Japan by 1% to QR0.55bn.Against the previous month's levels, the shipments from the US fell 57%, Germany by 23% and China by 7%; while those from Japan grew 30% and India by 5%.Motorcars, turbojets and electrical apparatus for line telephony comprised the main components in Qatar's import basket this January.Doha imported motorcars valued at QR0.56bn; turbojets, turbo propellers (QR0.53bn), electrical apparatus for line telephony (QR0.32bn) and other commodities (QR8.17bn).