Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR12.5bn in January 2020, according to preliminary figures released by the Planning and Statistics Authority.
The trade surplus in January witnessed a decline of about QR3.3bn, or 20.7 percent, compared to January 2019. When compared on yearly basis, it has decreased by nearly QR1.8bn, or 12.4 percent, compared to December 2019. The decline in trade surplus was attributed to fall in the exports of hydrocarbon-related products, including oil and gas.
In January 2020, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR22.4bn, showing a decrease of 9 percent compared to January 2019, and decrease of 5 percent compared to December 2019.
The imports of goods in January 2020 amounted to around QR9.9bn, showing an increase of 11.9 percent over January 2019. However, on a month-on-month basis the imports increase by 6.4 percent.
The year-on-year decrease in total exports in January 2020 was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR15.1bn approximately in January 2020, i.e. a decrease of 6.8 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR3.2bn nearly, decreased by 15.7 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR1.2bn, decreased by 26.1 percent.
In January 2020, Japan was at the top of the countries of destination of Qatar’s exports with close to QR4.3bn, a share of 19.1 percent of total exports, followed by China with almost QR3.6bn and a share of 16.1 percent, South Korea with about QR3.3bn, a share of 14.7 percent.
During January 2020, the group of “Motor Cars & Other Motor Vehicles for the Transport of Persons” was at the top of the imported group of commodities, with QR0.4bn, showing an increase of 25.2 percent compared to January 2019. In second place was “Parts of Balloons Etc.; Parts of Aircraft, Spacecraft Etc” with QR0.39bn, showing an increase of 33.2 percent and in third place was “Gold (incl. gold plated with platinum) unwrought or in Semimnfr or in powder form” with QR0.2bn, increase of 48.6 percent.
In January 2020, China was the leading country of origin of Qatar’s imports with about QR2bn, a share of 19.7 percent of the imports, followed by the US with QR1.5bn almost, a share of 15.7 percent, and Germany with QR0.7bn, a share of 7.3 percent.
