QR 6.7 Billion Qatar Foreign Merchandise Trade Surplus in July
Doha – The Ministry of Development Planning and Statistics has released preliminary figures of the value of exports of domestic goods, re-exports, and imports for July 2016.
In July 2016, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 16.3 billion, showing a decrease of 30.0% compared to July 2015. And decreased by 6.5% compared to June 2016.
On other hand, the imports of goods in July 2016 amounted to around QR 9.6 billion, showing increase of 4.4% over July 2015. However, on a month on month (M-o-M) basis the imports increased by 4.5%.
In July 2016, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 6.7 billion almost, i.e. a decrease of about QR 7.4 billion or 52.5% compared to July 2015. And decreased by nearly QR 1.5 billion or 18.8% compared to June 2016.
The year on year (July 2016 to July 2015) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching 10.4 billion approximately in July 2016, i.e. a decrease of 33.3%, Petroleum oils & oils from bituminous minerals (crude) reaching QR 2.5 billion nearly, decreased by 18.6%, as well as the Petroleum oils & oils from bituminous minerals (not crude) reaching QR 0.8 billion, decreased by 28.9%.
In July 2016, Japan was at the top of the countries of destination of Qatar’s exports with close to QR 3.3 billion, a share of 20.0% of total exports, followed by India with almost QR 2.4 billion and a share of 14.8%, South Korea with about QR 2.4 billion, a share of 14.8%.
During July 2016, Parts of aircraft and helicopters etc., was at the top of the imported group of commodities, with QR 0.5 billion, showing a increase of 10.3% compared to July 2015. In second place was Motor cars & other passenger vehicles. with QR 0.5 billion, showing an decrease by 37.1%, and in third place was Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof. with QR 0.2 billion, increased of 11.0%.
In July 2016, United State of America was the leading country of origin of Qatar’s imports with about QR 2.0 billion, a share of 21.4% of the imports, followed by China with QR 0.9 billion almost, a share of 9.7%, and United Arab Emirates with QR 0.7 billion, a share of 7.5%.