Sign in Register
Posted On: 23 November 2019 05:47 pm
Updated On: 3 March 2020 12:00 pm

Qatar's trade surplus for Q3 at QR 38.2 billion

Binu Cherian
Binu Cherian
Discuss here!
Start a discussion
Shutterstock_1470694586

The State of Qatar's trade balance (the difference between total exports and imports) during the third quarter of 201, recorded a surplus of QR 38.2 billion, down from QR 49.9 billion recorded in the same period last year.

The total value of Qatari exports (including exports of domestic goods and re-exports) during the third quarter of this year amounted to QR 63.9 billion , down QR 15.9 billion , or 20.0 percent compared to the same quarter. of last year, which recorded total exports amounted to QR 79.8 billion, according to a statement issued today by the Planning and Statistics Authority.

The statement attributed the decline in total exports to a decline in exports of mineral fuels, lubricants and similar materials worth QR 14.7 billion , chemicals and non-mentioned products worth QR 1.1 billion riyals, and machinery and transport equipment (mostly re-export) worth QR 0.3 billion, as exports witnessed an increase in manufactured goods, mainly classified by material, with a value of QR 0.1 billion , and miscellaneous manufactures with a value of QR 0.1 billion.

The value of Qatari imports during the third quarter of 2019 amounted to QR 25.7 billion , a decrease of QR 4.3 billion, or 14.2 percent compared to the third quarter of 2018, which amounted to 30.0 billion.

According to the Planning and Statistics Authority, this decline is mainly due to a decline in imports of machinery and transport equipment worth QR1.8 billion , miscellaneous manufactures worth QR 1.0 billion , and manufactured goods, classified mainly by material, worth QR 0.9 billion . Unidentified chemicals and products worth QR 0.1 billion, food and live animals worth QR 0.1 billion, mineral fuels, lubricants and similar materials worth QR 0.1 billion, and beverages and tobacco worth QR 0.1 billion, while the main increases in non-edible raw materials, excluding fuel, were recorded at QR 0.1 billion.

According to the data, Asian countries accounted for first place for the countries of destination for Qatari exports during the third quarter of this year, as well as for countries of origin for Qatari imports during the same period, with 79.6 percent for exports and 33.5 percent for imports, followed by the European Union at 10.2 percent and 31.1 percent. The GCC countries then averaged 4.4 percent and 3.8 percent for both exports and imports respectively.

Press release: QNA