Robust surge in the shipments of crude and non-crude helped Qatar more than double its trade surplus year-on-year to QR18.99bn in October 2018, according to official figures. The country’s trade surplus registered a healthy 22.9% increase on monthly basis, said the figures released by the Ministry of Development Planning and Statistics. In absolute terms, South Korea, Japan, India, China and Singapore were among the largest export markets of Qatar; while imports mainly came from the US, China, the UK, Germany and India in the review period.
In May 2018, total exports of goods (including exports of goods of domestic origin and re-exports) amounted to QR28.77bn, showing an increase of 37.1% compared to October 2017, and 7.3% against September 2018. The exports of non-crude shot up 71% year-on-year to QR2.44bn, petroleum gases and other gaseous hydrocarbons by 48% to QR17.8bn, petroleum oils and oils obtained from bituminous minerals by 10.5% to Qr4.56bn and other commodities by 3.8% to QR3.01bn. On a monthly basis, the country’s shipments of other commodities grew 15.8%, petroleum oils by 9.5% and petroleum gases by 6.2%; while non-crude declined 6.2%.
Petroleum gases constituted 64.03% of the exports of domestic products compared to 58.74% a year ago period, crude 16.4% (20.11%), non-crude 8.78% (6.98%) and other commodities 10.83% (14.16%). In October this year, South Korea was at the top of the countries of destination of Qatar’s exports with QR4.9bn, a share of 17% of total exports, followed by Japan QR4.66bn (16.2%), India QR3.74bn (13%), China QR3.67bn (12.7%) and Singapore QR2.39bn (8.3%). On a yearly basis, Qatar’s exports to China soared 57.51%, South Korea by 56.05%, Japan by 44.27%, India by 6.55% and Singapore by 4.37%.
On a monthly basis, shipments from Qatar to South Korea and China reported 16.39% and 2.23% growth; while those from Singapore, India and Japan declined 9.13%, 7.43% and 0.85% respectively. The country’s re-exports amounted to QR0.97bn in October 2018, which represented 91.3% and 42.9% surge on yearly and monthly basis respectively. Qatar’s total imports (valued at cost insurance and freight) amounted to QR9.79bn, which showed 22.9% and 13.8% fall on year-on-year and month-on-month basis respectively. In October 2018, the US was the leading country of origin of Qatar’s imports worth QR1.61bn, a share of 16.4% of the total, China QR1.25bn (12.8%), the UK QR1.1bn (11.2%), Germany QR0.69bn (7%) and India QR0.59bn (6%).
On a yearly basis, Doha’s imports from the US plummeted 50.46%, India by 32.18% and Germany by 19.77%; while those of the UK more than doubled. Qatar’s imports from China treaded a flat path. On a monthly basis, shipments from the US contracted 59.85%, India by 14.49% and Germany by 6.76%; while those from the UK more than doubled and those from China by 10.62%. During October 2018, motor cars and other passenger vehicles were at the top of the imported group of commodities, with a value of QR0.46bn, which however showed a year-on-year decrease of 15.1% and other commodities by 26% to QR8.55bn. The imports of parts of turbojets soared 27% to QR0.45bn and electrical apparatus for line telephony expanded 31.2% to QR0.33bn.
Sources and photo-credits: Gulf Times