DOHA: Qatar’s trade balance increased 6.6 per cent to QR6.3 billion in July this year compared with the figure of the previous month, the Planning and Statistics Authority (PSA) said in a report released on Wednesday.
The foreign merchandise trade balance showed a decrease of about 52.3 per cent from the trade balance of QR6.9 billion in July last year. In July 2020, the total exports of goods including exports of goods of domestic origin and re-exports amounted to around QR13.6 billion, showing a decrease of 38.8 per cent compared to July 2019, an increase of 6.9 per cent compared to June 2020.
Imports of goods in July 2020 amounted to around QR7.4 billion, showing a decrease of 19.5 per cent over July 2019. However, on a month-on-month (m-o-m) basis, imports rose 7.1 per cent compared to June 2020.
The year-on-year decrease in total exports was mainly due to the value of exports of petroleum gases and other gaseous hydrocarbons like LNG, condensates, propane, butane and others decreasing 41.9 per cent to QR7.8 billion, petroleum oils and oils from bituminous minerals (crude) decreasing 39.7 per cent to QR2.3 billion and petroleum oils and oils from bituminous minerals (not crude) decreasing 41 per cent to QR1.2 billion in July this year.
In July, China was at the top of the countries of destination of Qatar’s exports with close to QR2.8 billion, a share of 20.6 per cent of total exports, followed by Japan with almost QR2 billion with a share of 15 per cent and India with about QR1.7 billion, a share of 12.2 per cent.
In July, the group of ‘Turbojets, Turbopropellers and Other Gas Turbines Parts’ was at the top of the imported group of commodities with QR600 million, a decrease of 29.9 per cent compared to July last year.
In second place was ‘Electrical Apparatus for Line Telephony and Telegraphy, Telephone Sets’ with QR200 million, decrease of 34.9 per cent and in third was ‘Parts of Aeroplanes or Helicopters’ with QR200 million, a decrease of 35.6 per cent.
The US was the leading country of origin of Qatar’s imports with about QR1 billion, a share of 13.9 per cent of imports, followed by China with almost QR1 billion, a share of 13.5 per cent and the UK with QR600 million, amounting to a share of 8.7 per cent.