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Posted On: 28 June 2020 09:50 am

Qatar's merchandise trade balance records surplus of 22.5% in May

Khadiza Begum
Khadiza Begum
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The State of Qatar's merchandise trade balance, which represents the difference between total exports and imports, recorded a surplus of 22.5 percent during May compared to the previous month (April 2020) but decreased by 60.4 percent year on year (compared to May 2019).

The Planning and Statistics Authority said in a statement today, on foreign trade, that the country's merchandise trade balance had achieved QR 5.3 billion, registering an increase of approximately QR 1.0 billion compared to April 2020, but decreased by QR 8.1 billion compared to May 2019.

The data indicate that the value of Qatari exports (which includes exports of local origin and re-export) amounted to approximately QR 13.3 billion , a decrease of 41.4 percent compared to May 2019, and an increase of 12.1 percent compared to April this year, while the value of merchandise imports decreased to reach about QR 7.9 billion, an annual decline of 13.7 percent, and an increase of 6.0 percent compared to April 2020.

The value of exports of "oil gases and other gaseous hydrocarbons" decreased annually (compared between May 2019 and May 2020), by 39.7 percent, to reach about QR 8.2 billion, while the value of "oils and oils for continental mineral raw materials" recorded approximately QR 1.3 billion , an annual decline of 67.5 percent, The value of exports of "oils and oils obtained from non-continental mineral materials" decreased by 68.8 percent, to register about QR 0.5 billion.

South Korea occupied the top destination countries for the Qatari exports during May this year with a value of approximately QR 2.1 billion, or 15.9 percent of the total value of Qatari exports, followed by China with a value of approximately QR 1.9 billion Qatari , or 14.1 percent of the total of that value, then Japan with a value of approximately QR 1.6 billion, or 11.9 percent

The jet turbines group came at the top of the list of commodity imports of the State at a value of QR 1.0 billion, an increase of 55.8 percent, followed by the "regular aircraft parts and helicopters" group with about QR 0.3 billion, down 15.7 percent, then t "cars and other vehicle vehicles designed mainly to transport persons " group which amounted to approximately QR 0.2 billion, a decrease of 52.1 percent compared to May 2019.

The United States topped the list of countries of origin for the Qatari imports during May, with a value of approximately QR 2.1 billion and 26.5 percent of the total value of merchandise imports, then the United Kingdom with a value of QR 1.3 billion, or 16.5 percent, followed by China with QR 1.1 billion, a 13.3 percent of the value of imports.

(Source: Qatar News Agency - QNA)