Qatar Foreign Merchandise Trade Surplus QR 7.7 billion in October, 2016

Doha, November 27 (QNA) - The Ministry of Development Planning and Statistics on Sunday released preliminary figures of the value of exports of domestic goods, re-exports, and imports for October 2016. In October 2016, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 18.7 billion, showing a decrease of 14.9% compared to October 2015. And increased by 9.4% compared to September 2016. On other hand, the imports of goods in October 2016 amounted to around QR 11.0 billion, showing increase of 6.5% over October 2015. However, on a month on month (M-o-M) basis the imports increased by 32.7%. In October 2016, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 7.7 billion almost, i.e. a decrease of about QR 4.0 billion or 34.0% compared to October 2015. And decreased by nearly QR 1.1 billion or 12.6% compared to September 2016. The year on year (October 2016 to October 2015) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching 11.1 billion approximately in October 2016, i.e. a decrease of 19.8%, Petroleum oils & oils from bituminous minerals (crude) reaching QR 3.0 billion nearly, decreased by 10.8%, as well as the Petroleum oils & oils from bituminous minerals (not crude) reaching QR 0.9 billion, decreased by 2.8%. In October 2016, Japan was at the top of the countries of destination of Qatar's exports with close to QR 3.9 billion, a share of 21.0% of total exports, followed by South Korea with almost QR 3.1 billion and a share of 16.3%, India with about QR 2.1 billion, a share of 11.0%. During October 2016, Motor cars & other passenger vehicles, was at the top of the imported group of commodities, with QR 0.7 billion, showing a decrease of 28.1% compared to October 2015. In second place was Electrical Apparatus For Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof with QR 0.4 billion, showing an increase by 48.1%, and in third place was Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof with QR 0.3 billion, increased by 92.0%. In October 2016, United State of America was the leading country of origin of Qatar's imports with about QR 2.5 billion, a share of 22.9% of the imports, followed by Germany with QR 1.1 billion almost, a share of 10.4%, and China with QR 1.1 billion, a share of 10.1%. (QNA)