Qatar's Trade Balance Makes QR 16.4 Billion Surplus in January

Doha, February 27 (QNA) - The foreign merchandise trade balance, which represents the difference between total exports and imports, showed in January 2018 a surplus of almost QR 16.4 billion, an increase of about QR 5.6 billion or 52.2 percent compared to January 2017, and increased by nearly QR 1.5 billion or 9.8 percent compared to December 2017. This came in the preliminary report on foreign merchandise trade statistics for the month of January 2018 issued by the Ministry of Development Planning and Statistics monthly, and includes data on exports (of local origin and re-export) and imports. In January 2018, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 25.9 billion, showing an increase of 28.8 percent compared to January 2017, and increase by 0.1 percent compared to December 2017, according to the report. On other hand, the imports of goods in January 2018 amounted to around QR 9.6 billion, showing an increase of 2 percent over January 2017. However, on a month-on-month basis the imports decreased by 13 percent. The year-on-year (January 2018 to January 2017) increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc) reaching QR 16.9 billion approximately in January 2018, an increase of 28.3 percent and petroleum oils and oils from bituminous minerals (crude) reaching QR 4.2 billion nearly, increased by 76.7 percent, as well as an increase in the petroleum oils and oils from bituminous minerals (not crude) reaching QR 1.7 billion, increased by 17.3 percent. South Korea was at the top of the countries of destination of Qatar's exports in January 2018, with close to QR 4.9 billion, a share of 19.4 percent of total exports, followed by Japan with almost QR 4.5 billion and a share of 17.8 percent, China with about QR 3.3 billion, a share of 13.0 percent. During January 2018, the group of Motor cars and other passenger vehicles was at the top of the imported group of commodities, with QR 0.6 billion, showing a decrease of 13.0 percent compared to January 2017. In second place was turbojets, turbo propellers and other gas turbines; parts thereof, with QR 0.5 billion, showing an increase by 61.6 percent, and in third place was electrical apparatus for line telephony or telegraphy, telephone sets etc; parts thereof, with QR 0.3 billion, decrease of 0.6 percent. China was the leading country of origin of Qatar's imports in January 2018, with about QR 1.4 billion, a share of 14.4 percent of the imports, followed by the United States with QR 1.4 billion, a share of 14.3 percent, and India with QR 0.6 billion, a share of 6.2 percent. (QNA)