Qatar’s trade volume in May 2019 reached QR32bn, reporting a trade surplus of QR13.6bn, up 3.8 percent (or QR500m) compared to QR13.1bn in the previous month, official data show.
According to preliminary figures released by the Planning and Statistics Authority, yesterday, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR22.8bn, while the imports of goods in May 2019 amounted to around QR9.2bn.
When compared on a year-on-year basis, Qatar’s trade surplus (in goods) in May 2019 decreased by 8.9 percent or QR1.3bn compared to May 2018.
Exports of goods in May decreased by 8.4 percent compared to May 2018, and increased by 2.9 percent compared to April 2019, while Qatar’s imports decreased by 7.6 percent over May 2018. However, on a month-on-month (M-o-M) basis the imports increased by 2.1 percent.
The year-on-year (May 2019 to May 2018) decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR13.6bn approximately in May 2019, registering a decrease of 6.2 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR4.1bn nearly, increased by 1.1 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR1.7bn, decreased by 29.5 percent.
In May 2019, Japan was at the top of the countries of destination of Qatar’s exports with close to QR4bn, accounting for 17.7 percent of total exports, followed by South Korea with almost QR3.7bn and a share of 16.1 percent, India with about QR2.2bn, a share of 9.7percent.
During May 2019, the group of “Motor cars & other passenger vehicles” was at the top of the imported group of commodities, with QR300m, showing a decrease of 27.6 percent compared to May 2018. In second place was “Parts Of Balloons etc; Parts Of Aircraft, Spacecraft, etc.” with QR300m, showing a decreased by 10.5 percent, and in third place was “Electrical Apparatus For Line Telephony/Telegraphy, Telephone Sets, etc;.” with QR200m, a decrease of 35.1percent.
In May 2019, United State of America was the leading country of origin of Qatar’s imports with about QR1.3bn, a share of 14.2 percent of the imports, followed by China with QR1bn almost, a share of 11.3 percent, and the United Kingdom with QR900m, a share of 9.7 percent.
Qatar’s foreign merchandise trade surplus in April 2019 stood at QR13.1bn, showing a fall of about QR1.7bn, or 11.3 percent, compared to April 2018, and decline of nearly QR100m, or 0.4 percent, compared to March 2019.
In April 2019, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR22.1bn, showing a decrease of 7.8 percent compared to April 2018, and decreased by 2.8 percent compared to March 2019.
On another hand, the imports of goods in April 2019 amounted to around QR9bn, showing a decrease of 2.3 percent over April 2018. However, on a month-on-month basis, the imports decrease by 6.1 percent.
Qatar, especially after the imposition of the unjust blockade, has been focusing on trade policy of export promotion and import substitution aiming to improve self-sufficiency, economic diversification and boosting foreign exchange reserves.