Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR14bn in June, a decline of about QR4bn or 22.4 percent compared to the corresponding month previous year (2018). When compared on monthly basis, the trade surplus has increased by nearly QR400m, or 2.6 percent, compared to May 2019.
The total value of exports of goods, including exports of goods of domestic origin and re-exports, in June 2019 reached at QR22bn, showing a decrease of 18.2 percent, compared to the same month in 2018.
On monthly basis, Qatar’s exports in June 2019 decreased by 3.4 percent compared to May 2019, preliminary data released by the Planning and Statistics Authority (PSA) showed.
On the other hand, the imports of goods in June 2019 amounted to around QR8.1bn, showing a decrease of 9.6 percent over June 2018. However, on a month on month (m-o-m) basis the imports decreased by 12.4 percent.
The year-on-year 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 QR12.7bn in June 2019, a decrease of 17.8 percent, Petroleum oils and oils from bituminous minerals (crude) reaching QR4.1bn, decreased by 19.6 percent, and decrease in the Petroleum oils and oils from bituminous minerals (not crude) reaching QR1.8bn, decreased by 31.2 percent.
In June 2019, Japan was at the top of the countries of destination of Qatar’s exports with close to QR4.2bn, a share of 18.9 percent of total exports, followed by South Korea with almost QR3.5bn and a share of 16.1 percent, and India with about QR3bn, a share of 13.6 percent.
During June 2019, the group of “Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR500m, showing an increase of 17.8 percent compared to June 2018.
In second place was “Parts of Balloons, and others; Parts Of Aircraft, Spacecraft, and others” with QR400m, showing an increase of 67.4 percent, and in third place was ‘Electrical Apparatus For Line Telephony/Telegraphy, Telephone Sets, and others; Parts Thereof” with QR200m, decrease of 10.4 percent.
In June 2019, the US was the leading country of origin of Qatar’s imports with about QR1.8bn, a share of 22.4 percent of the imports, followed by China with QR1bn almost, a share of 12.0 percent, and Germany with QR600m, a share of 7.7 percent.
