Mubasher: Qatar's trade balance surplus rose 0.8% year-on-year in January, according to a report released by the Ministry of Development Planning and Statistics (MDPS) on Wednesday.
The gas-rich country’s trade surplus amounted to QAR 15.84 billion ($4.4 billion) last month, against QAR 15.72 billion ($4.34 billion) in the corresponding month a year earlier.
Month-on-month, Qatar’s trade surplus fell 0.3%, from QAR 15.88 billion in December 2018.
The GCC nation's exports declined 2.6% year-on-year to QAR 24.66 billion last January, with a 3% monthly retreat.
The decline in exports was ascribed to the lower exports of petroleum gases and other gaseous hydrocarbons, which tumbled 0.1% to QAR 16.3 billion, as well as the 11.0% decline in petroleum oils and oils from bituminous minerals (crude), falling to QAR 3.7 billion.
In addition, exports of petroleum oils and oils from bituminous minerals (not crude) decreased 7% to QAR 1.6 billion last January.
Japan came in at the first place among Qatar’s export destinations with exports valued at QAR 4.24 billion, accounting for 17.2%, followed by China and South Korea with QAR 4.23 billion and QAR 3.8 billion, respectively.
Meanwhile, the Qatari imports fell 8% year-on-year to QAR 8.82 billion, from QAR 9.59 billion in January 2018, and dropped 7.5% on a monthly basis.
US topped countries of origin of Qatar’s imports with about QAR 1.4 billion, followed by China and Oman with QAR 1.1 billion and QAR 0.7 billion, respectively.
Qatar's trade balance surplus climbed 39.9% to QAR 191.43 billion for the full-year 2018, compared to QAR 136.82 billion in the prior year.
