Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, expanded by nearly QR800m or 6.8 percent at QR12.5bn in November compared to the previous month (October 2019). The trade surplus slipped by about QR3.5bn or 21.8 percent compared to the corresponding month previous year (November 2018).
The total value of exports of goods, including exports of goods of domestic origin and re-exports, in November 2019 reached at QR22.2bn, showing a decrease of 13 percent compared to the same month in 2018. On monthly basis, Qatar’s exports in November 2019 increased by 10.6 percent compared to October 2019, preliminary data released by the Planning and Statistics Authority (PSA) showed.
On the other hand, the imports of goods in November 2019 amounted to around QR9.7bn, showing an increase of 1.7 percent over November 2018. On a month on month (m-o-m) basis the imports also increased by 15.8 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 QR14.1bn in November 2019, a decrease of 8.8 percent. Petroleum oils & oils from bituminous minerals (crude) reaching QR4.3bn, decreased by 2.7 percent, and decrease in the petroleum oils & oils from bituminous minerals (not crude) reaching QR1.1bn, decreased by 47.0 percent.
In November 2019, Japan was at the top of the countries of destination of Qatar’s exports with close to QR4.7bn, a share of 21.3 percent of total exports, followed by China with almost QR3.3bn and a share of 15.0 percent, and South Korea with about QR3.2bn, a share of 14.6 percent.
During November 2019, the group of “Motor Cars & Other Motor Vehicles For The Transport of Persons” was at the top of the imported group of commodities, with QR400m, showing an increase of 9.3 percent compared to November 2018.
In second place was “Parts of Balloons, and others; Parts Of Aircraft, Spacecraft, and others” with QR400m, showing an increase of 28.4 percent, and in third place was “Electrical apparatus for line telephony/telegraphy, telephone sets, and others; parts thereof” with QR300m, increase of 40.4 percent.
In November 2019, the US was the leading country of origin of Qatar’s imports with about QR2.1bn, a share of 21.7 percent of the imports, followed by China with QR1.2bn almost, a share of 12.0 percent, and the UK with QR1.0bn, a share of 9.9 percent.
