Faster exports, especially to the Asian countries, led Qatar’s trade surplus to surge 72.7% year-on-year to QR13.18bn this March, despite tighter Covid-19 related restrictions, according to the Planning and Statistics Authority (PSA).
The country’s merchandise trade surplus, however, witnessed a marginal 0.3% fall month-on-month in the review period, said the figures released by the PSA.
The Asian region accounted for about 62% of Qatar’s exports, with Japan, South Korea and India occupying the first three slots; while the imports came from diversified geographies.
In March 2021, total exports of goods (including exports of goods of domestic origin and re-exports) were QR22.06bn, showing 38.2% and 7% surge on a yearly and monthly basis respectively.
On a yearly basis, the exports of non-crude more than doubled to QR1.8bn, while those of crude soared 74.5% to QR3.2bn, other non-specified commodities by 41.5% to QR2.73bn and petroleum gases and other gases hydrocarbons by 26.6% to QR13.36bn in the review period.
The exports of non-crude shot up 36.4% month-on-month, crude by 29.4% and other non-specified commodities by 4.5%, whereas those of petroleum gases and other gaseous hydrocarbons were down 0.1%.
Petroleum gases constituted 63.34% of the exports of domestic products compared to 70.11% a year ago period, crude 15.19% (12.2%), non-crude 8.55% (4.88%) and other commodities 12.93% (12.81%).
Last month, Qatar’s shipments to Japan amounted to QR3.43bn or 15.5% of the total exports; followed by South Korea QR3.13bn (14.2%), India QR2.88bn (13%); China QR2.69bn (12.2%) and Singapore QR1.51bn (6.9%). On a yearly basis, Qatar’s exports to Singapore was seen soaring 59.6%, Japan 39.32%, China 33.92%, South Korea 31.71% and India 30.11% in the review period.
On a monthly basis, Qatar’s exports to Singapore shot up 49.8%; whereas those to India declined 17.94%, China by 16.82%, South Korea by 14.36% and Japan by 5.15% in March this year.
The country’s re-exports amounted to QR0.98bn, which soared 6.4% and 15.7% year-on-year and month-on-month respectively in March 2021.
Qatar’s total imports (valued at cost insurance and freight) amounted to QR8.88bn, which showed 6.7% and 20.1% growth year-on-year and month-on-month respectively in the review period.
In March 2021, imports from China stood at QR1.18bn, which accounted for 13.3% of the total imports in the country; followed by the US QR0.93bn (10.4%); Germany QR0.71bn (8%); India QR0.61bn (6.9%) and Italy QR0.49bn (5.6%).
On a yearly basis, the country’s imports from China soared 48.99%, India by 28.75%, Italy by 25.77% and Germany by 5.02%; while those from the US declined 35.5% in March 2021.
On a monthly basis, Qatar’s shipments from Germany zoomed 91.64%, India by 35.33%, Italy by 19.66% and the US by 12.39%; while those from China were down 3.68% in the review period.
In March this year, imports of turbojets and turbojet propellers were valued at QR0.42bn; articles of jewellery and precious metals and parts thereof QR0.36bn; motorcars and other motor vehicles for the transport of persons QR0.27bn; and other non-specified commodities QR7.84bn.