A faster expansion in exports helped Qatar register a 3.5% month-on-month increase in trade surplus to QR13.56bn in May this year, according to the official estimates.
The bulk of the exports continued to go towards Asia, which constituted more than 60% of the total, said the figures released by the Planning and Statistics Authority.
The country's trade surplus however registered an 8.9% fall year-on-year.
In absolute terms, South Korea, Japan, India, Singapore and China were among the largest export markets of Qatar; while imports mainly came from the US, China, the UK, Germany and India during the period under review.
In May 2019, total exports of goods (including exports of goods of domestic origin and re-exports) amounted to QR22.76bn, which grew about 3% on a monthly basis, but showed an 8.4% decline on yearly basis.
The exports of petroleum gases and other gaseous hydrocarbons declined about 2% month-on-month to QR13.62bn, while those of crude expanded about 10% to QR4.12bn, non-crude by about 39% to QR1.75bn and other commodities by 2% to QR2.36bn.
On a yearly basis, the exports of petroleum gases and other gaseous hydrocarbons declined more than 6%, non-crude by 30% and other commodities by 15%; whereas those of crude grew more than 1%.
Petroleum gases constituted 62% of the exports of domestic products compared to 61% a year ago period, crude 19% (17%), non-crude 8% (10%) and other commodities 11% (12%).
In May this year, Qatar's shipments to Japan stood at QR4.02bn, accounting for 18% of the total exports; South Korea QR3.66bn (16%); India QR2.22bn (10%); China QR1.89bn (8%) and Singapore QR1.58bn (7%).
On a monthly basis, Doha's exports to Singapore, India and South Korea shrank 41%, 17% and 8%; whereas those to Japan and China grew 17% and 2% respectively.
On a yearly basis, Qatar's exports to Singapore registered a healthy more than 23% growth and Japan by about 7%; while those to China, India and South Korea declined 36%, 19% and 14% respectively.
The country's re-exports amounted to QR0.91bn in May 2019, which showed shrinkage of 2% and 8% on monthly and yearly basis respectively.
Qatar's total imports (valued at cost insurance and freight) amounted to QR9.2bn, which showed a 2% growth month-on-month but about 8% fall on a yearly basis in May 2019.
In May this year, imports from the US stood at QR1.31bn – a share of 14% of the total, China QR1.04bn (11%), the UK QR0.9bn (10%), Germany QR0.8bn (9%) and India QR0.5bn (5%).
On a monthly basis, the country's imports from the UK more than doubled, those from Germany expanded 76% and China by 7%; while those from India and the US plunged 34% and 31% respectively.
On a yearly basis, Qatar's imports from the UK had more than doubled and those from Germany soared 41%; while those from the US plummeted 28%, India 28% and China 16%.
During May this year, imports of motor cars and other vehicles for transportation amounted to QR0.33bn, parts of aircraft QR0.31bn; electrical apparatus form line telephony QR0.19bn and other commodities QR8.37bn.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Qatar has perfect ecosystem for sport startups, says Italian tech entrepreneur
Construction sector prospects upbeat; Umm Slal, Al Khor, Shahaniya see jump in building permits
QSE surges 531 points on slowdown in Covid-19-related fatalities
Sub-Saharan Africa poised for 1st recession in 25 years
Japanese economy facing extreme uncertainty: BoJ
Asian tycoons hunt for bargain deals after stock market rout
Asian stock markets rise as dealers eye virus peak
Rishi Sunak taps BoE overdraft to keep crisis stimulus cash flowing
US jobless claims top 6mn for second straight week