A relatively higher prices for hydrocarbons helped Qatar report a robust 30% expansion month-on-month (m-o-m) in trade surplus to QR8.69bn in August, according to official figures.
Higher values for its exports of crude, non-crude and natural gas were rather instrumental in lifting the merchandise trade surplus, which, however, shrank 36% year-on-year (y-o-y), the Ministry of Development Planning and Statistics data revealed yesterday.
Japan, South Korea, India, the UAE and China were among the largest export markets of Qatar; while its imports largely came from Germany, China, the US, the UAE and India in August 2016.
The country’s total exports (valued free-on-board) grew by a healthy 11% m-o-m to QR18.07bn in August this year; but y-o-y it declined more than 23%.
The country’s total exports of domestic products grew more than 10% m-o-m to QR17.4bn in August 2016; while it recorded about 24% slump y-o-y.
Qatar’s exports of petroleum oils and oils obtained from bituminous minerals (crude) expanded about 27% m-o-m to QR3.14bn; non-crude by 10% to QR0.84bn, petroleum gases and other gaseous hydrocarbons by 8% to QR11.25bn and other commodities by 2% to QR2.17bn.
Against August 2015 levels, the exports of petroleum gases, non-crude, crude and other commodities tanked 24%, 7%, 19% and 40% respectively.
Petroleum gases and other gaseous hydrocarbons constituted 64.66% of total exports of domestic products in August 2016 compared to 64.93% a year-ago period; crude 18.05% (14.75%), non-crude 4.83% (4.57%) and other commodities 12.47% (15.76%).
On exports destinations, Japan accounted for 19% of total exports from Qatar in August this year; followed by South Korea (15%), India (12%), the UAE (7%) and China (6%).
Qatar’s exports to China grew the maximum of 42% m-o-m to QR1.09bn, the UAE by 19% to QR1.21bn, South Korea by 12% to QR2.7bn and Japan by 5% to QR3.4bn; while those to India fell 9% to QR2.19bn.
Against August 2015 levels, Doha’s exports to South Korea witnessed a huge 30% decline, followed by China (26%), India (22%) and Japan (19%); whereas those to the UAE registered a 3% growth.
The country’s re-exports had grown 38% to QR0.67bn in August 2016 compared to the previous month; while they reported an 18% fall on a yearly basis.
Total imports (valued at cost insurance and freight) fell more than 2% m-o-m to QR9.38bn in August 2016 mainly on more-than-halved shipments from the US. The country’s total imports had fallen 7% y-o-y.
Germany, China and the US accounted for 11% each of Qatar’s imports in August this year, followed by the UAE (9%) and India (7%).
Qatar’s imports from the US plummeted 51% to QR1.01bn; whereas those from India soared 91% to QR0.61bn, Germany by 54% to QR1.05bn, the UAE by 22% to QR0.87bn and China by 10% to QR1.02bn.
Against August 2015 levels, imports from China plunged 29%, the US by 4% and the UAE by 3%; while those from Germany and India witnessed 57% and 49% growth respectively.
Motor cars, parts of aircraft and helicopters and electrical apparatus comprised the main components in Qatar’s import basket during August 2016.
The imports of parts of aircraft and helicopters shrank 55% m-o-m to QR0.22bn, electrical apparatus for telephone by 7% to QR0.22bn and other commodities by less than 1% to QR8.34bn; whereas those of motor cars and other vehicles soared 26% to QR0.61bn.
On a yearly basis, the imports of parts of aircraft and helicopters plummeted 60%, electrical apparatus for telephone by 30%, motor cars and other vehicles by 11% and other commodities by 2%.