Qatar Foreign Merchandise Trade Surplus QR 12.6 Billion in August

Doha, September 27 (QNA) - The Ministry of Development Planning and Statistics has released preliminary figures of the value of exports of domestic goods, re-exports, and imports for August 2017. A brief analysis of the data is given below: In August 2017, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 21.3 billion, showing an increase of 17.7 percent compared to August 2016, and Increase by 16.6 percent compared to July 2017. On other hand, the imports of goods in August 2017 amounted to around QR 8.7 billion, showing decrease of 7.8 percent over August 2016. However, on a month on month (M-o-M) basis the imports increase by 39.1 percent. In August 2017, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 12.6 billion almost, i.e. an increase of about QR 3.9 billion or 45.4 percent compared to August 2016, And increased by nearly QR 0.6 billion or 5.0 percent compared to July 2017. The year on year (August 2017 to August 2016) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching 13.1 billion approximately in August 2017, i.e. an increase of 16.2 percent, while increase was shown in Petroleum oils and oils from bituminous minerals (crude) reaching QR 3.7 billion nearly, increased by 18.3 percent, and increase in the Petroleum oils and oils from bituminous minerals (not crude) reaching QR 1.3 billion, increased by 53.9 percent. In August 2017, Japan was at the top of the countries of destination of Qatar's exports with close to QR 3.4 billion, a share of 15.9 percent of total exports, followed by South Korea with almost QR 2.9 billion and a share of 13.7 percent, China with about QR 2.7 billion, a share of 12.8 percent. During August 2017, the group of "Turbojets, Turbo propellers and Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities, with QR 0.6 billion, showing an increase of 76.5 percent compared to August 2016. In second place was "Parts of Aircraft and helicopters etc.", with QR 0.3 billion, showing an increase by 39.7 percent, and in third place was "Motor cars and other passenger vehicles", with QR 0.3 billion, decrease of 57.8 percent. In August 2017, United State of America was the leading country of origin of Qatar's imports with about QR 1.3 billion, a share of 15.4 percent of the imports, followed by China with QR 0.9 billion almost, a share of 10.7 percent, and Germany with QR 0.8 billion, a share of 9.3 percent. (QNA)