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Posted On: 26 March 2020 09:48 am

Qatar's February trade balance shows QR 13.6 billion surplus

Sumaica Asad
Sumaica Asad
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Qatar-Trade

In February 2020, the foreign merchandise trade balance of the State of Qatar, which represents the difference between total exports and imports, showed a surplus of QR 13.6 billion almost.

This was a decrease of about QR 0.4 billion or 3.0 percent compared to February 2019, And increased by nearly QR 1.1 billion or 9.0 percent compared to January 2020. A statement from the Planning and Statistics Authority said that the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 21.3 billion, showing a decrease of 5.2 percent compared to February 2019, and decrease of 4.6 percent compared to January 2020. On other hand, the imports of goods in February 2020 amounted to around QR 7.7 billion, showing a decrease of 8.9 percent over February 2019. However, on a month on month (M-o-M) basis the imports decrease by 21.7%.

The year on year (February 2020 to February 2019) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR 13.8 billion approximately in February 2020, i.e. a decrease of 4.3%, Petroleum oils & oils from bituminous minerals (crude) reaching QR 3.1 billion nearly, decreased by 6.4%, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR 1.1 billion, decreased by 32.9%.

Japan was at the top of the countries of destination of Qatars exports with close to QR 3.8 billion, a share of 18.0 percent of total exports, followed by India with almost QR 3.3 billion and a share of 15.7 %, South Korea with about QR 2.8 billion, a share of 13.2%.

During February 2020, the group of "Parts of Aeroplanes or Helicopters" was at the top of the imported group of commodities, with QR 0.3 billion, showing a decrease of 30.2 percent compared to February 2019. In second place was "Motor Cars & Other Motor Vehicles for The Transport of Persons" with QR 0.27 billion, showing a decrease of 21.4 percent and in third place was "Electrical apparatus for line telephony/telegraphy, telephone sets etc.; parts thereof" with QR 0.21 billion, increase of 0.9%.

In February 2020, United State of America was the leading country of origin of Qatars imports with about QR 1.1 billion, a share of 13.9 percent of the imports, followed by China with QR 0.9 billion almost, a share of 11.4%, and United Kingdom with QR 0.6 billion, a share of 7.9%.

Source: QNA