Doha: Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, expanded by nearly QR600m or 9.5 percent at QR7bn in October compared to the previous month (September 2020).
The trade surplus slipped by about QR4.6bn or 39.6 percent when compared to the corresponding month previous year (October 2019).
The total value of exports of goods, including exports of goods of domestic origin and re-exports, in October 2020 reached at QR15.3bn, showing a decrease of 23.5 percent compared to the same month in 2019. On monthly basis, Qatar’s exports in October 2020 increased by 14.1 percent compared to September 2020, preliminary data released by the Planning and Statistics Authority (PSA) showed.
On other hand, the imports of goods in October 2020 amounted to around QR8.3bn, showing a decrease of 1.0 percent over October 2019. However, on a month on month (m-o-m) basis the imports increased by 18.3 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 QR9.7bn in October 2020, a decrease of 18.1 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR2.1bn, decreased by 39.6 percent, and decrease in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR500m, decreased by 62.4 percent.
In October 2020, India was at the top of the countries of destination of Qatar’s exports with close to QR2.6bn, a share of 16.6 percent of total exports, followed by Japan with almost QR2.3bn and a share of 14.8 percent, and China with about QR2.3bn, a share of 14.8 percent.
During October 2020, the group of “Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof “ was at the top of the imported group of commodities, with QR600m, showing an increase of 46 percent compared to October 2019.
In second place was “Parts of Aero planes or Helicopters” with QR300m, showing a decrease of 20.4 percent, and in third place was “Motor Cars & Other Motor Vehicles for the Transport of Persons” with QR200m, decrease of 60.3 percent.
In October 2020, the US was the leading country of origin of Qatar’s imports with about QR1.2bn, a share of 14.7 percent of the imports, followed by China with QR1bn almost, a share of 12.0 percent, and India with QR500m, a share of 5.8 percent.
