DOHA: Qatar’s trade surplus shrank by a sizeable 48.3 percent in January 2015 from a year ago as the value of its exports — largely natural gas and oil — declined, while imports continued to grow on year-on-year.
The monthly trade report from Qatar’s Ministry of Development Planning and Statistics (MDPS) showed that the total exports in January were valued at QR28.2bn, a decrease of 36.7 percent from a year ago. On the other hand, the imports of goods in January 2015 touched QR9.7bn, an increase of 10.2 percent from a year ago.
The export value of petroleum gases and other gaseous hydrocarbons LNG, condensates, propane, butane etc declined by 37.5 percent to QR19.4bn in January 2015 on year-on-year. Petroleum oils & oils from bituminous minerals (crude) fell by 58.8 percent to QR3bn and petroleum oils and oils from bituminous (not crude) dropped 38.4 percent to QR0.9bn on year-on-year.
On month-on-month basis both the exports and imports decreased In January. The total exports of goods decreased by 16.5 percent compared to December 2014. Total imports in January decreased by 12.5 percent in January from December.
In January 2015, the trade balance of goods, which represents the difference between total exports and imports, showed a surplus of QR18.5bn, a decrease of QR17.3bn compared to January 2014. The trade balance of goods decreased by QR4.2bn or 18.4 percent compared to December 2014.
Japan was at the top of the countries of destination of Qatar’s exports in January; accounting for 24.2 percent of the country’s total exports, with a value of QR6.8bn. China was the leading country of origin of Qatar’s imports with QR1.1bn, a share of 11.3 percent of total imports. The US ranked second with a value of QR1bn or 10.3 percent of Qatar’s total import during the month.
Motor cars and other passenger vehicles was at the top of the imported group of commodities, with QR0.9bn, an increase of 11.1 percent compared to the same month in 2014.
The Peninsula
