Qatar’s September trade balance jumps 25.6% from previous year to touch QR15.5bn
Despite the ongoing illegal siege of Qatar, the country is doing just fine in terms of business growth and trade balance.
Latest figures show that Qatar’s commodity trade balance surged to QR15.5bn last September, up by QR 3.1bn, or 25.6%, compared to the same month last year, reported Gulf Times.
The Ministry of Development Planning and Statistics, in its preliminary report on foreign trade statistics for September, revealed that the value of total Qatari exports (including those of local origin and re-exports) amounted to QR6.8bn.
This is an increase of 30.2% compared to the September 2017, and up 1.5% from August this year.
Meanwhile, Qatar’s imports in September touched QR11.4bn, an increase of 37% compared to the same month last year and a 27.7% jump when compared with August this year, reported Qatar Tribune.
The year-on-year increase in total exports was driven mainly by higher exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc).
They accounted for QR16.8bn of total exports, an increase of 47.4% from September, 2017.
A bulk of Qatari exports in September went to Japan, which accounted for 17.5% (QR4.7bn) of total Qatari exports. South Korea was second place, with 15.&% of Qatar’s total exports, totalling QR4.2bn. India, at QR4bn, supplied about 15.1% of Qatar’s total export income.
