DOHA: Asia maintained its position as the top destination of Qatar’s exports and imports, having a share of 73.1 percent and 33.0 percent respectively, during first quarter of 2016 (Q1 2016). The European Union was in the second place with 11.4 percent of Qatar’s exports and 27.5 percent of imports.
The Gulf Cooperation Council (GCC) occupied the third place accounting for 9.1 percent of Qatar’s exports and 14.9 percent of imports, according to the ‘Quarterly Bulletin on Qatar Foreign Merchandise Trade Statistics, Q1 2016’, released yesterday.
In Asia, Japan was the major destination of the exports with QR9.9bn (a share of 19.7 percent of Qatar’s total exports), followed by South Korea with QR8bn (15.8 percent), and India with QR7.1bn (14 percent).
China was the principal origin of the imports with QR3.1bn (10.1 percent of Qatar’s imports), followed by Japan with QR2.4bn (7.6 percent) and India with QR1.1bn (3.6 percent). The foreign merchandise trade balance with this economic area amounted to QR26.6bn while the total trade (exports plus imports) amounted to QR47.2bn.
Qatar’s Foreign Merchandise Trade Balance in Q1 2016 recorded a trade balance surplus (difference between total exports and imports) of QR19.3bn, down from QR48.4bn in Q1 of 2015.
During first quarter, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR50.5bn, showing a decrease of QR27.3bn or 35.1 percent compared to total exports of QR77.7bn in the same quarter last year.
The year on year (Y-o-Y) decline in exports was mainly due to lower exports of Mineral fuels, lubricants and related materials by QR27.5bn, Machinery and transport equipment by QR1bn and Manufactured goods classified chiefly by material by QR1bn. Within Mineral fuels, lubricants and related materials, fall was recorded in Natural gas by QR18, Liquefied propane and butane by QR4.9bn, Petroleum crude oils by QR3.5bn and Petroleum oils other than crude by QR1.1bn. Among Manufactured goods classified chiefly by material decline was seen in Non-ferrous metals by QR0.4bn and Iron and steel by QR0.2bn.
In the first quarter, mineral fuels, lubricants and related materials accounted for 79 percent of total exports, while Chemicals and related product the remaining 13 percent, of which manufactured goods classified chiefly by material for 3 percent of total exports, and the remaining 5 percent corresponded to other goods.
The value of Qatar’s imports in Q1 2016 was QR31.1bn, showing increase of QR1.8bn or 6.1 percent compared to imports of QR29.3bn in the same quarter last year.
The Y-o-Y increase in imports reflected increase mainly in miscellaneous manufactured articles by QR1.8bn, Machinery and transport equipment by QR1bn and Food and live animals QR0.1bn. Decline was recorded in Crude Materials, Inedible, Except Fuels, QR1bn, and Manufactured goods classified chiefly by material, QR0.4bn.
During the quarter, machinery and transport equipment accounted for 45 percent of the imports, manufactured goods classified chiefly by material 15 percent, Miscellaneous manufactured articles 17 percent, Food and live animals 9 percent, Chemicals and related products 8 percent, and the remaining 6 percent corresponded to other sections such as Beverages and tobacco and crude materials.
