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Posted On: 28 April 2020 09:44 am
Updated On: 12 November 2020 02:07 pm

Qatar's trade balance surplus amounts to QR 7.6 billion in March

Binu Cherian
Binu Cherian
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The merchandise trade balance of the State of Qatar, which represents the difference between total exports and imports, achieved a surplus of QR 7.6 billion in March, with a monthly decrease compared to February 2020 by 43.7 per cent, while it fell by 42.4 per cent on an annual basis compared to March 2019.

According to a statement by the Planning and Statistics Authority, on the merchandise foreign trade of the country, the value of Qatari exports which includes exports of local origin and re-exports amounted to approximately QR 15.9 billion during last March, declining by 30.1 per cent on an annual basis, compared to March 2019. It recorded a monthly decrease of about 25.0 per cent compared to February 2020.

The value of merchandise imports during the aforementioned month recorded about QR 8.3 billion, a decrease of 13.2 per cent on an annual basis, and a monthly increase of 7.7 per cent.

The data indicate that the value of exports of "oil gases and other gaseous hydrocarbons" recorded an annual decrease of 22.3 per cent, to reach about QR 10.5 billion, and the value of "oils and oils of ores of continental mineral raw materials" decreased by 52.1 per cent, to reach approximately QR1.8 billion. While the value of exports of "oils and oils obtained from continental minerals other than ores" decreased by 48.5 per cent, to reach about QR 0.7 billion.

Japan took the top spot in destination countries for Qatar's exports during March of this year, with a value of approximately QR 2.5 billion, or 15.5 per cent of the total value of Qatari exports, followed by South Korea with QR 2.4 billion, or 14.9 per cent, then India with QR 2.2 billion, at 13.9 percent of the total value of these exports.

The group of jet turbines was at the top of the list of merchandise imports at a value of QR 0.5 billion, an increase of 179.6 per cent, compared to the same month last year, followed by the group of "regular aircraft parts and helicopters" with about QR 0.4 billion and an increase of 57.1 per cent, and the group of "cars and other vehicles", cars designed mainly to transport people ", which amounted to approximately QR 0.3 billion, a decrease of 9.3 per cent.

The United States topped the countries of origin for the imports of the State of Qatar last March, with a value of approximately QR 1.4 billion, or 17.2 per cent of the total value of merchandise imports, then China with a value of QR 0.8 billion registering 9.5 per cent, followed by Germany with a value of QR 0.7 billion by 8.1 per cent of the total imports value.

Source: QNA