Qatar’s exports in April down 7pc

May 29, 2014 - 2:01:03 am

DOHA: The value of Qatar’s total exports of goods (including exports of domestic origin and re-exports) in April 2014 stood at QR40.1bn (about $11bn), witnessing a 7 percent decline year-on-year compared to the corresponding month in 2013, preliminary figures released by the Ministry of Development Planning and Statistics showed yesterday. 

On the other hand, the value of imports of goods in April 2014 amounted to QR8.8bn (about $2.42bn), registering an increase of 10 percent over the value recorded in the same month last year. 

In April 2014, the trade balance of goods, which represents the difference between total exports and imports, showed a surplus of QR31.2bn, a decrease of QR3.5bn (10 percent) compared to the trade balance of goods the same month last year.

The year-on-year decrease on the exports value was due to the lower exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc.) reaching QR26bn in April 2014, a decrease of 8 percent compared to April 2013 (mainly due to maintenance work in the LNG facilities), and petroleum oils and oils from bituminous minerals (crude) to reach QR6.3bn (15 percent); on the other hand, petroleum oils and oils from bituminous minerals (not crude) showed an increase of QR2.5bn (32 percent).

In April 2014, the major countries of destination for Qatar’s exports were Japan with QR10.8bn, a share of 27 percent of total exports, South Korea with QR6.2bn (15 percent), and India with QR5.4bn (13 percent).

The year-on-year increase in imports reflected increases in motor cars and other passenger vehicles reaching at QR900m, increased by 3 percent.

The Peninsula