Published: Sep 30, 2014
Source: Peninsula Qatar

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Qatar’s trade surplus hits QR31.5bn

Qatar’s trade balance recorded a surplus of QR31.5bn in August 2014, down QR1.3bn, or 3.9 percent, compared to August 2013, according to preliminary data released by the Ministry of Development Planning and Statistics.

The country’s total exports in August 2014 reached QR40.8bn, an increase by 0.3 percent compared to the same month in 2013. On the other hand, the imports of goods during the month amounted to QR9.3bn, an increase by 17.5 percent compared to August 2013.

The year-on-year rise in total exports is mainly due to higher export of ‘Other Groups of Commodities’ such as polymers of ethylene in primary forms, unwrought aluminum, acyclic hydrocarbons, reaching QR5.3bn in August 2014. This is an increase by 29.2 percent compared to August 2013. Re-exports reached QR0.7bn.

The increase in total exports is partially offset by the drop in exports of petroleum, gases and other hydrocarbons including LNG, condensates, propane and butane.

Petroleum oils and oils from bituminous minerals (not crude) reached QR2.1bn (11.6 percent), and petroleum oils and oils from bituminous minerals (crude) reached QR6.6bn (12.8 percent).

In August 2014, Japan was the top destination of exports from Qatar with QR10.1bn, a share of 24.8 percent of total exports. South Korea came next with QR6bn (14.8 percent) followed by India with QR5.6bn (13.6 percent).

Cars and other automobiles were at the top of the imports with QR0.8bn, an increase by 9.6 percent compared to August 2013.

Insulated wires, cables, coaxial cables, optical fibre cables came next with QR0.2bn, an increase by 82 percent while electrical apparatus for fixed line telephony/telegraphy, telephone sets and other parts amounted to QR0.2bn, up by 22.7 percent.

China was the main country of origin with QR1.1bn, a share of 11.8 percent of the imports, followed by UAE with QR0.8bn (8.3 percent), and USA with QR0.7bn (8.0 percent).

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