DOHA: Qatar’s year-on-year trade balance in October 2014 declined to QR26bn, down by 13.7 percent compared to QR30.1bn in October 2013, according to the latest data released by the Ministry of Development Planning and Statistics.
The Ministry yesterday released preliminary figures of the value of exports of domestic goods, re-exports and imports for October 2014. Trade balance represents the difference between total exports and imports of goods.
In October 2014, the total exports of goods (including exports of domestic origin and re-exports) amounted to QR35.5bn, showing a decrease of 7.1 percent compared to the corresponding month of 2013. On the other hand, the imports of goods in October 2014 amounted to QR9.6bn, showing an increase of 17.3 percent over the value recorded in the same month last year.
The year-on-year decrease in the value of total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, and other) reaching QR22.1bn in October 2014, down by 5.7 percent compared to the same month last year.
Revenues from petroleum oils and oils from bituminous minerals (crude) reached at QR 5.6bn (25.1 percent), and Petroleum oils and oils from bituminous minerals (not crude) to reach QR1.8bn (15 percent).
Japan (in October 2014) topped the export destination with QR8.1bn, accounting for 22.9 percent of total exports, South Korea with QR5.6bn (15.8 percent), then India with QR4.5bn (12.5 percent).
During October 2014, Motor cars and other passenger vehicles was at the top of the imported group of commodities amounting QR800m, showing a decrease of 23 percent compared to October 2013.
In October 2014, USA was the leading country of origin of Qatar’s imports with QR1bn, accounting for 10.4 percent of the total imports, followed by China with QR900m (9.8 percent), and Japan with QR800m (8.2 percent).
The Peninsula
