DOHA: The US has lost its ‘top Qatar exporter’ status to China for the first time in 2014. Qatar’s latest data on foreign trade showed China was the leading country of origin of Qatar’s imports with QR0.9bn in May, a share of 10.3 percent of the country’s total imports during the month.
The US fell to second slot with QR0.87bn or 9.9 percent of the total imports to the country, with a value of QR0.8bn, or 8.8 percent share. UAE is the third biggest exporter to Qatar.
However, the total export value of the US stood QR5.27bn against China’s QR4.5bn for the first five months in 2014.
According to data available from the Ministry of Development Planning and Statistics, US has been maintaining its status as the top exporter to Qatar throughout the year.
It was also the leading country of origin of Qatar’s exports in 2013, except in December, when China took over it by grabbing 10.01 percent of the total imports and the US accounted for 9.7 percent of the total imports.
The May 2014 figures show a 22.4 percent decrease in the imports of ‘motor cars and other passenger vehicles’, which was the top of the imported group of commodities. The second and third imported commodities were iron ores and concentrates, including roasted iron pyrites, which was increased by 96.0 percent to QR0.5bn. The volume of aircraft spare parts decreased by 10.7 percent.
The total imports of goods in May amounted to QR8.8bn, an increase of 5.7 percent over the value recorded in the same month last year. In May, the trade balance of goods, which represents the difference between total exports and imports, showed a surplus of QR33.3bn, an increase of QR2.4bn or 7.8 percent compared to the trade balance of goods of May 2013.
The year-on-year rise in total exports was due to higher exports of petroleum gases and other gaseous hydrocarbons like LNG, condensates, propane, butane, reaching QR27.2bn or a 10.7 percent year-on-year increase. The value of petroleum oils and oils from bituminous minerals (not crude) reached QR2.3bn, up 4.2 percent.
On the other hand, petroleum oils and oils from bituminous minerals (crude) showed a decrease of QR6.9bn. The major countries of destination for Qatar’s exports were Japan with QR9.3bn, a share of 22.1 percent of total exports, South Korea with QR 7.3bn (17.3 percent), and India with QR5.7bn (13.5 percent).
Unconfirmed figures show that trade in goods between US and Qatar reached $6.3bn in 2013, an increase of more than $1bn compared to 2012.
Additionally, goods and services from the US now account for nearly 20 percent of Qatar’s imports worldwide, making it Qatar’s major import trading partner. The Peninsula
