Driven by a higher volume of oil and gas exports, Qatar’s combined export value rose by 11.9 percent in October on year-on-year. The country’s export value in October stood at QR21bn. On month-on-month, the total exports grew by 1.9 percent, according to preliminary figures released by the Ministry of Development Planning and Statistics (MDPS).
In October, the country’s trade balance showed a surplus of QR8.7bn, an increase of about QR1.0bn or 12.9 percent compared to October 2016. However, the trade balance decreased by nearly QR 3.9bn or 30.9 percent compared to September 2017.
The year-on-year increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons including LNG, condensates, propane, butane, etc, that reached QR12.0bn in October 2017, up 8.5 percent. Petroleum oils & oils from bituminous minerals (crude) reached an estimated QR4.1bn (up 38.9 percent). The month witnessed an increase in the Petroleum oils & oils from bituminous minerals (not crude) by a significant 59.9 percent to QR1.4bn.
The imports of goods in October 2017 amounted to around QR12.3bn, an increase of 11.2 percent from a year ago. Compared to the previous month, the imports jumped 52.9 percent.
In October 2017, India was at the top of the countries of destination of Qatar’s exports with close to QR3.5bn, a share of 16.7 percent of total exports. Japan ranked second with almost QR3.2bn and a share of 15.4 percent, followed by South Korea with a value of QR3.1bn, accounting for 14.9 percent of Qatar’s total exports.
The group of “Motor cars & other passenger vehicles” was at the top of the imported group of commodities, with a value of QR0.5bn in October, down by 27.0 percent compared to October 2016.
‘Turbojets, turbo propellers & other gas turbines’ group accounted for the second biggest imports with QR0.4bn, up 6.0 percent on year-on-year, followed by “electrical apparatus for line telephony/telegraphy, telephone’.
In October, the US was the leading country of origin of Qatar’s imports with about QR 3.2bn, accounting for 25.9 percent of total imports, followed by China (QR1.3bn) and Germany (QR0.9bn).
