Qatar trade surplus shrinks in July on lower exports

By Santhosh V Perumal

Business Reporter

Qatar’s trade surplus shrank about 3% year-on-year (y-o-y) to QR32.85bn this July on lower exports, especially natural gas, and higher imports.

The energy-rich Gulf country’s total exports (valued free-on-board) were down 1.60% to QR41.26bn, dragged by lower shipments to South Korea and China, according to the preliminary estimates of the Ministry of Development Planning and Statistics.

Japan continued to be the top destination of Qatar’s exports, followed by South Korea, India, China and Singapore.

Qatar’s re-exports surged 84.10% to QR747mn during the review period.

The country’s total exports of domestic products were down 2.4% to QR40.51bn in July this year.

Qatar’s exports of petroleum gases and other gaseous hydrocarbons shrank 6.70% to QR25.70bn, non-crude petroleum oils and oils from bituminous minerals by 2.3% to QR2.35bn and other commodities by 1.6% to QR4.31bn, said Qatar Statistics Authority, releasing the figures.

Petroleum gases and other gaseous hydrocarbons constituted 63.44% of total exports of domestic products in July this year compared to 66.35% the year-ago period, non-crude petroleum oils and bituminous minerals 5.80% (5.81%) and other commodities 10.64% (10.55%).

However, crude petroleum oils and oils from bituminous minerals rose 13.5% to QR8.15bn.

The crude petroleum oil and oil from bituminous minerals constituted 20.11% of total exports of domestic products in July 2013 against 17.30% in the previous year period.

Japan accounted for 27.80% of Qatar’s total exports in July 2013 against 27.22% the previous year period, South Korea 14.18% (20.13%), India 10.52% (10.40%), China 6.86% (7.40%) and the UAE 5.67% (4.96%).

Qatar’s exports to South Korea plunged 30.7% to QR5.85bn, China by 8.8% to QR2.83bn and India by 0.60% to QR4.34bn; whereas those to the UAE rose 12.7% to QR2.34bn and Japan by 0.50% to QR11.47bn.

Total imports (valued at cost insurance and freight) expanded 2.70% y-o-y to QR8.41bn in July this year.

Motor cars and other passenger vehicles, aircraft spare parts, and telephone sets, mobiles and parts thereof were the main imported products in July 2013.

The imports of telephone sets, mobiles and parts thereof surged 35% to QR219mn and other commodities by 8.20% to QR7.26bn; whereas those of aircraft spare parts plunged 43.60% to QR214mn and motor cars and other passenger vehicles by 23.30% to QR718mn.

Other commodities constituted 86.33% of Qatar’s total imports in July 2013 against 81.91% the previous year period, motor cars and other passenger vehicles 8.56% (11.49%), telephone and mobiles 2.62% (1.96%) and aircraft spare parts 2.50% (4.65%).

China, the US, Japan, the UAE and Italy were among the top five destinations from where Qatar imported merchandise goods.

China accounted for 10.46% of Qatar’s imports this July compared to 10.39% the year-ago period, the US 9.87% (12.71%), Japan 7.13% (6.72%), the UAE 7.02% (8.31%) and Italy 6.66% (5.13%).

Qatar’s imports from Italy soared 34.10% to QR562mn, Japan by 9.80% to QR600mn and China by 3.50% to QR875mn; while those from the US shrank 20.10% to QR833mn and the UAE by 13.20% to QR593mn.