DOHA: Qatar’s trade balance showed a surplus of nearly QR 14.1bn, an increase of about QR 2.7bn or 23.7 percent in February 2018, on Year-on-Year.
In February the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 22.4bn, showing an increase of 14 percent from a year ago, according to preliminary numbers released by the Ministry of Development Planning and Statistics (MDPS).
On month-on-month, the trade balance was decreased by nearly QR 1.7bn or 10.7 percent and total exports of goods declined by 11.6 percent.
The Y-o-Y increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR13.7bn in February, an increase of 12.8 percent. Petroleum oils & oils from bituminous minerals (crude) reached QR3.9bn , up 12.6 percent, and the Petroleum oils & oils from bituminous minerals (not crude) reached QR1.9bn, an increase by 49.4 percent.
In February, South Korea was at the top of the countries of destination of Qatar’s exports with close to QR 4.8bn, a share of 21.3 percent of total exports, followed by Japan with almost QR 4.1bn and a share of 18.5 percent; and India with about QR3bn, a share of 13.5 percent.
The group of “ Motor cars & other passenger vehicles “ was at the top of the imported group of commodities, with QR0.5bn, showing a decrease of 1.9 percent from a year ago, followed by ‘Parts of balloons etc.; parts of aircraft, spacecraft etc.” with QR0.3bn, showing an increase by 9.3 percent, and in third place was ‘Turbojets, Turbo propellers & Other Gas Turbines’, with QR0.3bn, increase of 4.1 percent.
