| 28 February, 2017

Qatar's trade surplus surges by 62.2%

A view of Qatar Central Bank.

A view of Qatar Central Bank.

REUTERS/Mohamad Dabbouss

28 February 2017
Qatar’s trade surplus surged by a stupendous 62.2 percent or QR4.2bn in January on year-on-year and reached QR11bn. The trade balance surplus increased by nearly QR0.2bn or 2.3 percent compared to December 2016, according to preliminary figures released by the Ministry of Development Planning and Statistics (MDPS)..

 In January 2017, the total exports of goods, including exports of goods of domestic origin and re-exports, amounted to around QR20.3bn, an increase of 16.2 percent compared to January 2016, and increased by 5.3 percent on month-on-month.

The imports of goods in January 2017 amounted to around QR9.3bn, showing decrease of 12.9 percent over January 2016. However, on a month on month (M-o-M) basis the imports increased by 9.1 percent.

The year-on-year increase in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) that touched QR13.3bn,  an increase of 13.7 percent.

In January 2017, Japan was at the top  destination of Qatar’s exports with close to QR4.4bn, a share of 21.8 percent. of total exports, followed by South Korea (QR3.5bn)with a share of 17.3 percent and India with about QR2.4 bn, accoutning for 11.9 percnt of the total exports during the month.

© The Peninsula 2017