Qatar’s trade surplus and exports have seen a rise in the month of September, which shows that the blockade on Qatar has failed. The foreign trade balance in September 2017 jumped by 41.5 percent compared to September last year, while total exports of goods rose 20 percent.
The foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR12.5bn in September 2017 registering an increase of about QR3.7bn compared to September 2016
The data released by the Ministry show that the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR20.6bn in September this year.
The trade balance reduced by nearly QR0.2bn or 1.7 percent compared to August 2017. The imports of goods in September this year amounted to around QR8.1bn, showing decrease of 2.8 percent over September 2016. However, on a month on month (M-o-M) basis the imports decreased by 6.9 percent.
The year-on-year (September 2017 to September 2016) increase in total exports was mainly due to higher exports of Petroleum oils & oils from bituminous minerals (crude) reaching QR4.4bn, showing increase of 81.5 percent. The increase in the Petroleum oils & oils from bituminous minerals (not crude) reached QR1.7bn, rising 118.7 percent.
Japan topped the list of Qatar’s exports which amounted to QR3.4bn, followed by Singapore with QR3bn and South Korea with QR2.9bn.
During September this year, the group of ‘Motor cars & other passenger vehicles’ was at the top of the imported group of commodities, with QR0.3bn, showing a decrease of 39.9 percent compared to September 2016. In second place was “Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof”, with QR0.3bn share, showing a decrease by 20.9 percent, and in third place was “Parts of Aircraft and helicopters etc” with QR0.2bn, registering a decrease of 3.4 percent.
China shipped the highest into the country with nearly QR1bn, having a share of 12.5 percent of the imports, followed by United State of America with QR0.9bn almost, a share of 10.8 percent, and Germany with QR0.7bn, a share of 8.6 percent.