Despite Blockade, Qatar's Trade Surplus Exceeds $4 Billion in Jan 2019

Published February 27th, 2019 - 09:51 GMT
The imports of goods in January 2019 amounted to QR8.8 billion. (Shutterstock)
The imports of goods in January 2019 amounted to QR8.8 billion. (Shutterstock)

Qatar’s foreign merchandise trade balance showed a surplus of QR15.8 billion in January 2019, an increase of QR0.1 billion (0.8 percent) compared to January 2018, and decreased by QR0.05 billion or 0.3 percent compared to December 2018, according to the Planning and Statistics Authority’s (PSA) data on Tuesday.

In January 2019, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to QR24.7 billion, a decrease of 2.6 percent year-on-year (Y-o-Y), and 3 percent month-on-month (M-o-M).

The imports of goods in January 2019 amounted to QR8.8 billion, a decrease of 8 percent Y-o-Y, and a decrease by 7.5 percent M-o-M.

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PSA said the Y-o-Y decrease in total exports was mainly due to decrease in exports of petroleum oils and oils from bituminous minerals (crude) by 11 percent to QR3.7 billion, and petroleum oils and oils from bituminous minerals (not crude) by 7 percent to QR1.6 billion. However the group of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc) increased by 0.1 percent to QR16.3 billion in January 2019.

In January 2019, Japan was at the top of the countries of destination of Qatar’s exports at QR4.24 billion (17.2 percent of total exports), followed by China QR4.23 billion (17.2 percent), and South Korea QR3.8 billion 
(15.5 percent).

In January 2019, the group of “motor cars and other passenger vehicles” was at the top of the imported group of commodities at QR0.3 billion, a decrease of 39.4 percent compared to January 2018.

This was followed by “parts of balloons etc; parts of aircraft, spacecraft etc” at QR0.3 billion, an increase of 2.8 percent, and “turbojets, turbo propellers and other gas turbines; parts thereof” at QR0.3 billion, a decrease of 50.2 percent.

In January 2019, the US was the leading country of origin of Qatar’s imports at QR1.4 billion (15.4 percent of total imports), followed by China QR1.1 billion (12.7 percent), and Oman QR0.7 billion 


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