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Qatar's foreign trade surplus down 35%

Staff Writer |
Qatar's foreign trade surplus shrank by 35.7 percent from a year earlier to QR8.6 billion ($2.36 billion) in August.

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This is according to data from the Ministry of Development Planning and Statistics. The surplus slumped from more than QR13.5 billion in the year-earlier period because of low natural gas and oil prices.

Exports of petroleum gases and other gaseous hydrocarbons fell 23.9 percent to QR11.25 billion ($3.1 billion), according to the data, cited by Reuters.

Earlier this year, Qatar cut its planned spending on building healthcare facilities by about two-thirds this year following the drop in energy prices.