Mubasher: Qatar's trade balance surplus increased 39.5% year-on-year in May, according to a report released by the Ministry of Development Planning and Statistics.
The gas-rich country’s trade surplus amounted to QAR 14.88 billion ($4.09 billion) last month, up from QAR 10.67 billion ($2.93 billion) in the same month a year earlier, the statement added.
The rise in trade balance surplus was attributed to a 22% increase in exports, which registered QAR 24.8 billion in May, compared to QAR 20.34 billion in the corresponding month a year ago.
The GCC nation's petroleum gases and other gaseous hydrocarbons exports jumped 20% to QAR 14.5 billion in May, the ministry's data showed.
South Korea led the list of Qatar’s export destinations with QAR 4.2 billion, acquiring 17.1% of the nation's total exports, followed by Japan with QAR 3.8 billion, and China with QAR 3 billion.
In the same vein, Qatari imports saw a 2.7% rise to QAR 9.94 billion in May, from QAR 9.67 billion during the same month in the year before.
The US accounted for QAR 1.8 billion of Qatar’s imports, followed by China with QAR 1.2 billion, and India with QAR 600 million.
On a monthly basis, the GCC nation’s trade surplus levelled up 0.5% in May, from QAR 14.8 billion in April.
