Qatar’s trade surplus rises 213% to QR19.6 bn in July

Tribune News Network Doha The foreign merchandise trade balance of Qatar, which represents the difference between total exports and imports, showed a surpl...

Tribune News NetworkDohaThe foreign merchandise trade balance of Qatar, which represents the difference between total exports and imports, showed a surplus of QR 19.6 billion, an increase of about QR 13.3 billion or 213.4 percent compared to July 2020, and an increase of nearly QR2.6 billion or 15.5 percent compared to June 2021.According to the preliminary figures of the value of exports of domestic goods, re-exports and imports released by the Planning and Statistics Authority (PSA) for July 2021, the total exports of goods including exports of goods of domestic origin and re-exports amounted to around QR27.5 billion, showing an increase of 101.9 percent compared to July 2020, and an increase of 8.7 percent compared to June 2021.On the other hand, imports of goods in July 2021 amounted to around QR7.9 billion, showing an increase of 7.1 percent compared to July 2020 and decrease of 5.3 percent compared to June 2021.The year-on-year increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons like LNG, condensates, propane, butane and others reaching QR16.1 billion approximately in July 2021, an increase of 105.9 percent, petroleum oils and oils from bituminous minerals (crude) reaching QR4.4 billion nearly, increased by 92 percent and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching 2.9 billion, an increase of 146.8 percent.In July 2021, China was at the top of the countries of destination of Qatar’s exports with close to QR4.3 billion, a share of 15.8 percent of total exports, followed by South Korea with almost QR3.88 billion and a share of 14.13 percent, Japan with about QR3.87 billion, a share of 14.12 percent.Year on year, the group of ‘turbojets, turbo propellers and other gas turbines; parts thereof’ was at the top of the imported group of commodities, with QR 0.6 billion, showing an increase of 0.2 percent.In second place was ‘motor cars and other motor vehicles for the transport of persons’ with QR0.29 billion, showing an increase of 52.4 percent and in third place was ‘other parts of aeroplanes or helicopters’ with QR0.26 billion, an increase of 27.0 percent.In July 2021, China was the leading country of origin of Qatar’s imports with about QR1.3 billion, a share of 16.6 percent of the imports, followed by the United State of America with QR 0.9 billion almost, a share of 11.4 percent, and United Kingdom with QR 0.6 billion, a share of 7.8 percent.