Qatar trade surplus jumps 55% to QR12.84bn in November on exports expansion
Gulf Times | December 27, 2017- A robust expansion of exports, especially to South Korea, helped Qatar report about a 55% surge month-on-month in trade surplus to QR12.84bn in November this year, according to official statistics.
The surplus had jumped about 33% on a yearly basis, according to figures released by the Ministry of Development Planning and Statistics.
In absolute terms, South Korea, Japan, India, China and Singapore were among the largest export markets of Qatar; while imports mainly came from China, the US, India, Germany and Japan in November 2017.
Faster expansion in the shipments of non-crude led Qatar’s total exports (valued free-on-board) reach QR21.77bn this November, showing a 16% yearly increase and 3.8% on a monthly basis.
The country’s total exports of domestic products amounted to QR21.01bn in November this year, showing a 17% yearly jump and a 2.6% monthly lift.
On a monthly basis, Doha's exports of non-crude surged 61% to QR2.29bn and petroleum gases by 3% to QR12.34bn; while those of crude declined 10.4% to QR3.7bn and other commodities by 8% to QR2.68bn.
On a yearly basis, Qatar's exports of non-crude more than doubled in November, those of crude soared 24%, other commodities by 13% and petroleum gases by 6%.
Petroleum gases constituted 59% of total exports of domestic products in November 2017 compared to 65% in the year-ago period; crude 18% (17%) and non-crude 11% (5%), while that of other commodities was flat at 13%.
On exports destinations, South Korea accounted for 19% of total exports from Qatar in November this year, Japan 16%, India 12%, China 11% and Singapore 9%.
Qatar's exports to Singapore almost doubled year-on-year to QR1.84bn, those to South Korea soared 35% to QR4.16bn, China by 26% to QR2.39bn and India by 13% to QR2.69bn; whereas those to Japan was down 4% to QR3.51bn.
Against October 2017 levels, Doha's exports to South Korea expanded 32%, Japan by 9% and China by 3%; while those to India declined 23% and Singapore by 20%.
The country's re-exports expanded 51% month-on-month to QR0.77bn this November. Nevertheless, on a yearly basis, those had fallen 10%.
Qatar's total imports (valued at cost insurance and freight) were valued at QR8.94bn in November 2017, showing 2% and 30% shrinkage on yearly and monthly basis respectively.
China and the US accounted for 14% each of Qatar's imports in November this year, followed by India at 6%, and Germany and Japan at 5% each.
On a yearly basis, Qatar's imports from Germany plummeted 56% to QR0.48bn this November and Japan by 39% to QR0.47bn, while those from India rebounded 86% to QR0.53bn, China by 36% to QR1.23bn and the US by 30% to QR1.22bn.
Against the previous month's levels, the shipments from the US shrank 63%, Germany by 44%, India by 39%, Japan 19% and China 1%.
Motorcars, turbojets and electrical apparatus for line telephony comprised the main components in Qatar's import basket this November.
Doha imported motorcars valued at QR0.47bn; turbojets, turbo propellers (QR0.4bn), electrical apparatus for line telephony (QR0.3bn) and other commodities (QR7.76bn).