(MENAFN- The Peninsula) The Peninsula
The total value of exports of goods (including exports of goods of domestic origin and re-exports) in May 2017, reached at about QR20.2bn, showing sharp an increase of 18.4 percent (year-on-year) compared to May 2016.
When compared on monthly basis the exports increased by 7.6 percent compared to April 2017, latest data released by the Ministry of Development Planning and Statistics show.
On other hand, the imports of goods in May 2017 amounted to around QR9.5bn, showing a decrease of 0.3 percent against May 2016. However, on a month-on-month (M-o-M) basis the imports increase by 5.8 percent.
In May 2017, the foreign merchandise trade balance, which represents the difference between total exports and imports, registered a surplus of QR10.7bn almost, witnessing an increase of about QR3.2bn, or 41.7 percent compared to May 2016, and increased by nearly QR900m, or 9.2 percent compared to April 2017.
The year-on-year increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane and others) reaching about QR12bn in May 2017, showing an increase of 21.6 percent, while increase was shown in petroleum oils & oils from bituminous minerals (crude) reaching QR3.3bn nearly, increased by 8.3 percent, and increases in the petroleum oils & oils from bituminous minerals (not crude) reaching QR1.1bn, increased by 29.7 percent.
In May 2017, Japan was at the top of the countries of destination of Qatar's exports with close to QR3.2bn, a share of 15.9 percent of total exports, followed by South Korea with almost QR2.9bn and a share of 14.3 percent, Singapore with about QR2.3bn, a share of 11.2 percent.
During May 2017, the group of "Turbojets, Turbo propellers & Other Gas Turbines; Parts Thereof.", was at the top of the imported group of commodities, with QR600m, showing an increase of 69.6 percent compared to May 2016. In second place was 'Motor cars & other passenger vehicles, with QR500m, showing an decrease by 0.6 percent, and in third place was "Electrical Apparatus For Line Telephony/Telegraphy, Telephone Sets among others; Parts Thereof, with QR200m, decrease of 36.7 percent.
In May 2017, Germany was the leading country of origin of Qatar's imports with about QR1bn, a share of 11.0 percent of the imports, followed by China with QR1bn almost, a share of 10.4 percent, and United State of America with QR1bn, a share of 10.3 percent.
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