Mubasher: Qatar’s trade balance surplus surged 129.1% year-on-year in October, according to a report released by the Ministry of Development Planning and Statistics (MDPS) on Tuesday.
The gas-rich country’s trade surplus amounted to QAR 18.99 billion ($5.26 billion) last month, against QAR 8.29 billion ($2.29 billion) in October 2017.
The rise in trade balance surplus was attributed to a 37.1% increase in exports, which registered QAR 28.77 billion in October, compared to QAR 20.98 billion in the corresponding month a year ago.
The Persian Gulf nation’s imports witnessed a 22.9% year-on-year drop to QAR 9.79 billion in the prior month.
South Korea topped the destinations of Qatari exports with QAR 4.9 billion, followed by Japan and India with QARA 4.7 billion and QAR 3.7 billion, respectively.
