Qatar exports remain buoyant month-on-month in July: PSA

Ras Laffan Industrial City
This file photo taken on February 6, 2017 shows the Ras Laffan Industrial City, Qatar’s principal site for production of liquefied natural gas and gas-to-liquids, some 80 kilometres north of Doha. Qatar’s exports of petroleum gases and other gaseous hydrocarbons expanded more than 5% month-on-month to QR13.42bn in July, according to the PSA.

Qatar’s exports remained buoyant month-on-month in July 2019 on increasing shipments to China, Singapore and Japan, official estimates have suggested. However, Doha’s trade surplus witnessed a weakening in the review period both on monthly and yearly basis respectively, according to figures released by the Planning and Statistics Authority (PSA). The country’s trade surplus amounted to QR13.21bn in July, which represented a 5% and 22% decline month-on-month and year-on-year respectively in July 2019. The bulk of the exports continued to go towards Asia, which constituted more than 65% of the total. In absolute terms, Japan, China, India, South Korea and Singapore were among the largest export markets of Qatar; while imports mainly came from the US, China, the UK, Germany and India during the period under review. In July 2019, total exports of goods (including exports of goods of domestic origin and re-exports) amounted to QR22.35bn, which grew about 2% on a monthly basis but showed a 16% decline on a yearly basis.

The exports of petroleum gases and other gaseous hydrocarbons expanded more than 5% month-on-month to QR13.42bn, non-crude by 13% to QR1.98bn and other commodities by 2% to QR2.39bn; while those of non-crude declined 6% to QR3.84bn. On a yearly basis, the exports of non-crude plummeted 18%, petroleum gases and other gaseous hydrocarbons by 17%, crude by 15% and other commodities by 12%. Petroleum gases constituted 62% of the exports of domestic products compared to 63% a year ago period, crude 18% (17%), non-crude 9% (9%) and other commodities 11% (11%). In July this year, Qatar’s shipments to Japan stood at QR4.39bn, accounting for 20% of the total exports; China QR3.3bn (15%), India QR2.95bn (13%), South Korea QR2.76bn (12%) and Singapore QR1.04bn (5%).

On a monthly basis, Doha’s exports to China soared 45%, Singapore 11% and Japan 5%; whereas those to South Korea and India declined 22% and 1% respectively. On a yearly basis, Qatar’s exports to Singapore fell 53%, South Korea by 32% and Japan by 16%; while those to China and India expanded 75% and 5% respectively. The country’s re-exports amounted to QR0.72bn in July 2019, which showed shrinkage of 36% and 11% on monthly and yearly basis respectively. Qatar’s total imports (valued at cost insurance and freight) amounted to QR9.14bn, which showed a 13% growth month-on-month but 6% fall on a yearly basis in July 2019. In July this year, imports from the US stood at QR1.47bn – a share of 16% of the total, China QR1.27bn (14%), the UK QR0.77bn (8%), Germany QR0.63bn (7%) and India QR0.45bn (5%).

On a monthly basis, the country’s imports from the UK saw a 48% growth, China by 32%, India by 13% and Germany by 2%; whereas those from the US declined 19%. On a yearly basis, Qatar’s imports from India and Germany tanked 27% and 16% respectively; while those from the UK increased 45%, the US by 3% and China by 2%. During July this year, imports of turbojets, turbo propellers and other gas turbines amounted to QR0.92bn; parts of aircraft QR0.32bn and electrical apparatus for line telephony and telephone sets QR0.32bn and other commodities QR7.59bn.

Sources and photo-credits: Gulf Times