Qatar's Trade Balance Surplus Soars 44.5 Percent to QR18 Billion

Published July 29th, 2018 - 08:33 GMT
The value of total Qatari exports including exports of local origin and re-exports in June amounted to QR26.9 billion. (Shutterstock)
The value of total Qatari exports including exports of local origin and re-exports in June amounted to QR26.9 billion. (Shutterstock)

Qatar's commodity trade balance, which represents the difference between total exports and imports, reached a surplus of QR18 billion in June 2018, registering a rise of QR5.5 billion or 44.5 percent, compared to the same month of the previous year and a rise of QR3.1 billion , or 21 percent, compared to May this year.

According to MDPS report on foreign trade statistics for the month of June, the value of total Qatari exports including exports of local origin and re-exports in June amounted to QR26.9 billion, an increase of 46.3 percent compared to June 2017, and an increase of 8.3 percent compared to May 2018.

On the other hand, the value of commodity imports during June 2018 rose to reach QR8.9 billion, or 50.1 percent, compared to June 2017, and decreased by 10.5 percent compared to May 2018.

In comparison to June 2017, the value of exports of 'other oil and hydrocarbon gases' increased 31 percent to about QR15.6 billion. The value of 'oil and crude oil mineral raw materials' rose by 107.7 percent to about QR5.1 billion. The value of exports of 'oil and oils obtained from non-ferrous mineral raw materials' rose to about QR2.6 billion by 160.6 percent.

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Japan was top country of destination for Qatar's exports in June at about QR4.7 billion, representing 17.6 percent of the total value of Qatari exports, followed by South Korea at about QR3.8 billion, 14.2 percent of the total value of exports, followed by Singapore with a value of QR 3.2 billion by11.8 percent.

In June, the group of 'cars designed to transport people' came at the top of the list of goods imports, which amounted to about QR0.3 billion, a decrease of 11.7 percent compared to June 2017.

The United States was the top country of origin for Qatar's imports in June worth about QR2.3 billion, representing 26 percent of the total value of imports.


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