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Qatar trade surplus down 53% in July

Qatar trade surplus down 53% in July
Total imports increased in July by 4.4% y-o-y and 4.5% m-o-m (Photo credit: Arabianeye - Reuters)

Doha – Mubasher: Qatar’s trade surplus declined in July 2016 by 52.5% year-on-year or QAR 7.4 billion and 18.8% month-on-month or QAR 1.5 billion to QAR 6.7 billion, according to a report released on Sunday by the planning and statistics ministry.

The report showed a y-o-y fall of 30% in the total exports of goods, including exports of goods of domestic origin and re-exports, to QAR 16.3 billion, dropping 6.5% compared to June 2016.

Meanwhile, the total imports increased in July by 4.4% y-o-y and 4.5% m-o-m to QAR 9.6 billion.

The y-o-y fall in total exports was attributed to the decrease in exports of petroleum gases and other gaseous hydrocarbons like LNG, condensates, propane and butane by 33.3% to QAR 10.4 billion.

Japan topped the importers of the Qatari exports in July with about QAR 3.3 billion, representing 20% of the total exports, followed by India and South Korea with shares of 14.8% for each.

In terms of imports, the top import origin of Qatar’s imports with about QAR 2 billion; 21.4% of total imports.