Qatar’s foreign merchandise trade, which represents the difference between total exports and imports, showed a surplus of QR13.5bn in January ($3.7 billion), registering a rise of nearly QR4.9bn or 57.6 percent compared to December 2020.
The trade surplus also increased by QR1.1bn or 8.7 percent when compared to the corresponding month the previous year (January 2020).
The total value of export goods, including exports of goods of domestic origin and re-exports, in January 2021 reached QR21.3bn, showing a decrease of 4.7 percent compared to the same month in 2020. On monthly basis, Qatar’s exports in January 2021 increased by 24.3 percent compared to December 2020, preliminary data released by the Planning and Statistics Authority (PSA) showed.
On other hand, the imports of goods in January 2021 amounted to around QR7.8bn, showing a decrease of 21.5 percent over January 2020. When compared on a month-on-month (M-o-M) basis the imports decreased by 9.2 percent.
The year-on-year decrease in total exports was mainly due to lower exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, and others) reaching QR13.1bn in January 2021, a decrease of 13.3 percent, Petroleum oils & oils from bituminous minerals (crude) reaching QR3.1bn, decreased by 3.0 percent, and increase in the Petroleum oils & oils from bituminous minerals (not crude) reaching QR1.7bn, increased by 45.5 percent.
In January 2021, China was at the top of the countries of destination of Qatar’s exports with close to QR4.6bn, a share of 21.5 percent of total exports, followed by Japan with almost QR3.6bn and a share of 16.9 percent, and South Korea with about QR3.2bn, a share of 14.9 percent.
During January 2021, the group of “Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities, with QR500m, showing a decrease of 27.5 percent. In second place was “Motor Cars & Other Motor Vehicles for The Transport of Persons’ with QR400m, showing a decrease of 7.2 percent.
And in third place was “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets, and others; Parts Thereof” with QR300m, an increase of 33.5 percent.
In January 2021, China was the leading country of origin of Qatar’s imports with about QR1.1bn, a share of 14.3 percent of the imports, followed by the US with QR1.0bn almost, a share of 13.0 percent, and United Kingdom with QR600m, a share of 8.0 percent. ■
A Fall heatwave will continue into the weekend over portions of the Desert Southwest and central/southern California as a persistent trend of upper-ridging over the region remains in place.