Doha: Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR9.1bn in November, registering a rise of nearly QR2bn or 28.6 percent compared to October 2020.
The trade surplus slipped by about QR3.4bn or 27.4 percent when compared to the corresponding month previous year (November 2019).
The total value of exports of goods, including exports of goods of domestic origin and re-exports, in November 2020 reached QR16.6bn, showing a decrease of 25.1 percent compared to the same month in 2019.
On monthly basis, Qatar’s exports in November 2020 increased by 8.3 percent compared to October 2020, preliminary data released by the Planning and Statistics Authority (PSA) showed.
On the other hand, the imports of goods in November 2020 amounted to around QR7.5bn, showing a decrease of 22.1 percent over November 2019. When compared on a month on month (m-o-m) basis the imports decreased by 8.9 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 QR9.5bn in November 2020, a decrease of 32.2 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR2.5bn, decreased by 41 percent, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR1.4bn, increased by 29.6 percent.
In November 2020, Japan was at the top of the countries of destination of Qatar’s exports with close to QR3.0bn, a share of 18 percent of total exports, followed by China with almost QR2.7bn and a share of 16.5 percent, and South Korea with about QR2.3bn, a share of 13.9 percent.
