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Qatar’s trade surplus surges 9% to QR13.6 billion in Feb

Qatar’s trade surplus surges 9% to QR13.6 billion in Feb

Tribune News Network
Doha
Qatar’s foreign merchandise trade surplus, which represents the difference between total exports and imports, surged nearly QR 1.1 billion, or 9 percent, to QR 13.6 billion in February when compared with the trade surplus registered in the previous month.
This was, however, a decrease of about QR0.4 billion, 3 percent, when compared with the trade surplus registered in February 2019.
A statement from the Planning and Statistics Authority said that the total exports of goods including exports of goods of domestic origin and re-exports amounted to around QR 21.3 billion, showing a decrease of 5.2 percent compared to February 2019, and decrease of 4.6 percent compared to January 2020.
On the other hand, the imports of goods in February 2020 amounted to around QR 7.7 billion, showing a decrease of 8.9 percent over February 2019. However, on a month on month (M-o-M) basis the imports decreased by 21.7 percent.
The year-on-year decrease in total exports was mainly due to lower exports of petroleum gases and other gaseous hydrocarbons like LNG, condensates, propane, butane, etc reaching QR 13.8 billion approximately in February 2020, a decrease of 4.3 percent.
The export value of petroleum oils and oils from bituminous minerals (crude) reached nearly QR 3.1 billion, a decrease of 6.4 percent. Exports of petroleum oils & oils from bituminous minerals (not crude) were worth QR 1.1 billion, a decreased of 32.9 percent. Japan was at the top of the countries of destination of Qatar’s exports with close to QR 3.8 billion, a share of 18 percent of total exports. It was followed by India with almost QR3.3 billion with a share of 15.7 percent and South Korea with about QR 2.8 billion, a share of 13.2 percent.
During February 2020, the group of ‘Parts of Aeroplanes or Helicopters’ was at the top of the imported group of commodities, with QR 0.3 billion, showing a decrease of 30.2 percent compared to February 2019.
In the second place was ‘Motor Cars & Other Motor Vehicles for The Transport of Persons’ with QR0.27 billion, showing a decrease of 21.4 percent and in third place was ‘Electrical apparatus for line telephony/telegraphy, telephone sets, etc’ with QR0.21 billion, an increase of 0.9 percent.
In February 2020, the United State of America was the leading country of origin of Qatar’s imports with about QR 1.1 billion, a share of 13.9 percent of the total imports. It was followed by China with almost QR 0.9 billion, a share of 11.4 percent, and the United Kingdom with QR 0.6 billion, a share of 7.9 percent.

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