Qatar's Trade Surplus Reaches QR12.3 billion in February

In February 2017, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of approximately QR12.3 billion.The figure is an increase of about QR5.2 billion or 74 percent when compared to the same month of the previous year. It is an increase of nearly QR1.3 billion or 12.1 percent compared to January of 2017. The Ministry of Development Planning and Statistics released today preliminary figures of the value of exports of domestic goods, re-exports, and imports for February 2017. 
Last month saw total exports of goods (including exports of goods of domestic origin and re- exports) amounting to around QR20.5 billion, showing an increase of 22.5 percent compared to February 2016, and increased by 0.8 percent compared to January 2017. On other hand, the imports of goods in February 2017 amounted to around QR8.2 billion, showing decrease of 15.4 percent over February 2016. However, on a month on month (M-o-M) basis the imports decrease by 12.6 percent.
The year on year (February 2017 to February 2016) increase in total exports was mainly due to exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane.) They reached 12.2 billion approximately in February 2017, an increase of 18.9 percent, while increase was shown in petroleum oils and oils from bituminous minerals (crude) reaching QR3.5 billion nearly, increased by 46.8 percent, and increases in the petroleum oils and oils from bituminous minerals (not crude) reaching QR1.3 billion, increased by 68 percent.
In February 2017, Japan was at the top of the countries of destination of Qatar’s exports with close to QR3.9 billion, a share of 19.1 percent of total exports, followed by South Korea with almost QR3.6 billion and a share of 17.5 percent, India with about QR2.3 billion, a share of 11.3 percent.
During February 2017, motorcars and other passenger vehicles, was at the top of the imported group of commodities, with QR0.5 billion, showing a decrease of 34.4 percent compared to February 2016. In second place was electrical apparatus for line telephony/telegraphy, telephone sets. With QR0.4 billion, showing an increase by 56.0 percent, and in third place was parts of aircraft and helicopters among others with QR0.2 billion, decrease of 58.9 percent.
In February 2017, China was the leading country of origin of Qatar’s imports with about QR1.05 billion, a share of 12.9 percent of the imports, followed by United State of America with QR1.02 billion almost, a share of 12.5 percent, and United Arab Emirates with QR0.8 billion, a share of 9.5 percent. 

Source: QNA