Doha: Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, expanded by nearly QR1.1bn or 9.0 percent at QR13.6bn in February compared to the previous month (January 2020).
The trade surplus slipped by about QR400m or 3.0 percent when compared to the corresponding month previous year (February 2019). The total value of exports of goods, including exports of goods of domestic origin and re-exports, in February 2020, reached at QR21.3bn, showing a decrease of 5.2 percent compared to the same month in 2019.
On monthly basis, Qatar’s exports in February 2020 decreased by 4.6 percent compared to January 2020, preliminary data released by the Planning and Statistics Authority (PSA) yesterday showed. On the other hand, the imports of goods in February 2020 amounted to around QR7.7bn, 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 (y-o-y) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, among others) reaching at about bituminous minerals (crude) reaching QR3.1bn, decreased by 6.4 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR1.1bn, decreased by 32.9 percent.
During February 2020, Japan was at the top of the countries of destination of Qatar’s exports with close to QR3.8bn, a share of 18.0 percent of total exports, followed by India with almost QR3.3bn and a share of 15.7 percent, and South Korea with about QR2.8bn, 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,QR13.8bn in February 2020, a decrease of 4.3 percent, Petroleum oils & oils from with QR300m, showing a decrease of 30.2 percent compared to February 2019.
In second place was “Motor Cars & Other Motor Vehicles for The Transport of Persons” with QR270m, showing a decrease of 21.4 percent, and in third place was “Electrical apparatus for line telephony/telegraphy, telephone sets, and others; parts thereof” with QR210m, increase of 0.9 percent. In February 2020, the US was the leading country of origin of Qatar’s imports with about QR1.1bn, a share of 13.9 percent of the imports, followed by China with QR900m almost, a share of 11.4 percent, and the UK with QR600m, a share of 7.9 percent.
