Exports in Qatar drop by over 40 percent in July

Exports from Qatar were down 41.7 percent in July compared to the same month last year, Qatar News Agency reported on Sunday.

Exports for July were worth QR23.5 billion ($6.5 billion), the latest data from the Ministry of Development Planning and Statistics show – a 1.1 percent month-on-month drop but 41.7 percent year-on-year.

In particular, petrol and hydrocarbon exports were down by 40.5 percent month-on-month to QR15.6 billion.

Imports were up 13.5 percent month-on-month to QR9.2 million and the state news agency highlighted a trade balance surplus of QR14.3 billion in July, down 1.4 percent compared to the previous month and 55.6 percent compared to July 2014.

Japan was the top exporter to Qatar, exporting QR4.3 billion worth of products. South Korea followed with QR4 billion. The two countries combined represented 37.1 percent of Qatar’s total imports during July.

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Source News: Qatar Living