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Major destinations of Qatar’s exports and imports as of January 2014; Source: Ministry of Development Planning and Statistics
Major export destinations for Qatar in January were Japan, South Korea and India
Buoyed up by the higher exports of petroleum gases and other gaseous hydrocarbons, Qatar’s foreign trade surplus totalled QR37bn in January, preliminary figures released by the Ministry of Development Planning and Statistics show.
However, the foreign trade surplus shrank in January compared with QR37.6bn a year ago.
General exports from Qatar increased in a year up to January this year and totalled QR45.8bn, up 2.8% on the same period in 2013, the Ministry said.
This was driven mainly by the higher exports of petroleum gases and other gaseous hydrocarbons such as LNG, condensates, propane and butane that accounted for QR31bn in January, up 2.6% year-on-year.
However, the increase has been partially offset by a drop in exports of “petroleum oils” and oils from bituminous minerals (crude), which reached QR7.2bn (11%), and petroleum oils and oils from bituminous minerals (other than crude) that totalled QR1.5bn (45.9%).
“These decreases were due to the increase in local sales to the transport and industrial sectors,” Ministry of Development Planning and Statistics said.
Major export destinations for Qatar in January were Japan (QR13bn) which accounts for 28% of general exports, South Korea (QR9bn - 20%) and India (QR6.3bn - 14%).
The data also show higher imports to Qatar in the period under review. Qatar’s imports stood at QR8.8bn in January, up 27.5% on the same period last year.
The imports of motor cars and other passenger vehicles reached QR800mn in January, up 26.2% on the same period last year.
Aircraft spare parts import reached QR700mn (up 121%) and telephone sets QR200mn (+64.3%).
Qatar’s imports (as of January) were mainly from the US (QR1.3bn, which accounts for 15% of the total imports), followed by China (QR900mn – 10%) and the UAE and Germany (QR700mn each or 8%).
Analysts polled by Reuters in January expected Qatar’s current account surplus to come in at 24.5% of gross domestic product in 2014 and 20.9% in 2015.
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