Qatar trade balance dips 1.4% in July

DOHA: Qatar’s trade balance achieved a surplus of QR14.3bn in July, down 1.4 percent compared to the previous month and down 55.6 percent compared to July 2014.

A report released today from the Ministry of Development Planning and Statistics (MDPS)showed that exports for July were worth QR23.5bn, down 41.7 percent compared to the same month of last year and 1.1 percent month-on-month, QNA reported.

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Imports were up 13.5 percent month-on-month to QR9.2m. Petrol and Hydrocarbon exports were down by 40.5 percent to QR15.6bn.

Japan was the top exporter to Qatar, exporting QR4.3bn worth of products. South Korea came in second place with QR4bn. The two countries combined represent 37.1 percent of Qatar’s total imports.

Cars, air planes and helicopters were Qatar’s biggest imports.