Qatar registers about 10% expansion in trade surplus to QR7.05bn in October
November 27 2020 06:49 PM
A ship decks at the Hamad Port in Doha
A ship decks at the Hamad Port in Doha (file). The Asian region accounted for about 66% of Qatar's exports in October, with India, Japan and China occupying the first three slots; while the imports came from diversified geographies.

A robust growth in exports to Asian countries helped Qatar register about 10% month-on-month expansion in trade surplus to QR7.05bn in October this year, according to official statistics.

The country's merchandise trade surplus, however, witnessed a 39.6% fall year-on-year this October, said the figures released by the Planning and Statistics Authority (PSA).

The Asian region accounted for about 66% of Qatar's exports with India, Japan and China occupying the first three slots; while the imports came from diversified geographies.

In October 2020, total exports of goods (including exports of goods of domestic origin and re-exports) were QR15.3bn, showing more than 14% surge on a monthly basis but declined 23.5% on yearly basis.

On a monthly basis, the exports of petroleum gases and other gaseous hydrocarbons rose 18.5% to QR9.73bn, crude by 11.5% to QR2.09bn and other non-specified commodities by 8.3% to QR2.18bn; while those of non-crude plummeted 39.1% QR0.5b2n in October 2020.

The exports of petroleum gases and other gaseous hydrocarbons shrank 18.1% year-on-year, non-crude by 62.4%, crude by 39.6% and other commodities by 12.4%.

Petroleum gases constituted 67% of the exports of domestic products compared to 62% a year ago period, crude 14% (18%), non-crude 4% (7%) and other commodities 15% (13%).

In October this year, Qatar's shipments to India amounted to QR2.55bn or 17% of the total exports; Japan QR2.27bn (15%), China QR2.27bn (15%), South Korea QR1.99bn (13%) and Singapore QR0.85bn (6%).

On a monthly basis, Qatar's exports to South Korea surged 38.3%, Japan by 30.57%, China by 9.58%, India by 5.42% and Singapore by 2.92% in the review period.

On a yearly basis, Qatar's exports to Singapore witnessed a 49.61% plunge, Japan by 27.1%, South Korea by 23.02% and India by 17.42%; while those to China grew 5.25% in October 2020.

The country's re-exports amounted to QR0.8bn in October 2020, which shot up 65.6% on a monthly basis; even as it declined 2.3% year-on-year.

Qatar's total imports (valued at cost insurance and freight) amounted to QR8.27bn, which showed a 18.3% surge month-on-month; but fell 1% year-on-year in the review period.

In October 2020, imports from the US stood at QR1.22bn, which accounted for 15% of the total imports; China QR0.99bn (12%); India QR0.48bn (6%); and the UK and Germany QR0.43bn each (5%).

On a monthly basis, the country's imports from the US soared 62.65%, India by 16.99%, the UK by 8% and Germany by 6.9%; while those from China shrank 36.29% in the review period.

On a yearly basis, Qatar's imports from the US and China grew 7.33% and 5.97% respectively; whereas those from Germany and the UK shrank 42.21% and 4.64%. The imports from India rather treaded a flat course.

In October this year, imports of turbojets and turbojet propellers were valued at QR0.56bn; parts of aeroplanes or helicopters at QR0.25bn, motor cars and other vehicles for transport at QR0.19bn and other non-specified commodities at QR7.27bn.




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