Qatar Records Higher Exports Of Petroleum Gases And Re-Exports Trade Surplus At QR17.59Bn In May: NPC


(MENAFN- Gulf Times) Robust growth in exports of petroleum gases and re-exports led Qatar to post a 0.9% month-on-month jump in trade surplus to QR17.59bn in May 2024, according to the official estimates.
Total exports (valued free on board) totalled QR28.1bn, while the total imports (cost, insurance and freight) amounted to QR10.51bn in the review period, said the figures released by the National Planning Council.
However, the overall trade surplus shrank 3.5% year-on-year in May 2024.
The country's total exports of domestic goods amounted to QR26.64bn, which shot up 1.1% on a monthly basis, even as it fell 0.7% on an annualised basis in May 2024.
The country's exports of petroleum gases and other gaseous hydrocarbons soared 8.5% month-on-month to QR17.14bn, even as those of crude declined by 15.3% to QR4.19bn, non-crude by 12.6% to QR2.04bn and other commodities by 0.5% to QR3.27bn in May 2024.
On a yearly basis, the exports of petroleum gases were seen declining 0.9% and crude by 6.3%; while those of non-crude and other commodities grew 3.6% and 5.4% respectively in the review period.
Petroleum gases accounted for 64.34% of the total exports compared to 64.44% a year-ago period, crude 15.73% (16.66%), non-crude 7.66% (7.34%) and others 12.27% (11.55%).
In May 2024, Qatar's shipments to China amounted to QR4.76bn or 16.9% of the total exports of the country, followed by South Korea QR3.66bn (13%), India QR3.11bn (11.1%), Singapore QR2.4bn (8.5%) and the UAE QR2.1bn (7.5%).
On a monthly basis, the country's exports to the UAE zoomed 29.55%, Singapore by 11.52% and India by 4.6%; while those to South Korea and China declined 13.79% and 8.24% respectively in the review period.
On a yearly basis, Qatar's exports to the UAE shot up 37.52%, Singapore by 23.71%, South Korea by 2.9%, China by 2.48% and India by 0.61% in May 2024.
The country's re-exports were valued at QR1.46bn, which registered 30.7% and 49.2% growth month-on-month and year-on-year respectively in the review period.
Qatar's total imports showed a 4.6% and 9.6% increase on monthly and yearly basis respectively in May 2024.
The country's imports from China amounted to QR1.58bn or 15% of the total imports; followed by the US QR1.33bn (12.6%), Japan QR0.74bn (7%), Germany QR0.56bn (5.4%) and Italy by QR0.53bn (5.1%) in the review period.
On a monthly basis, the country's imports from Germany soared 51.75%, China by 19.52%, Japan by 18.62% and Italy by 11.34%; whereas those from the US shrank 10.46% in May 2024.
On a yearly basis, Qatar's imports from Japan expanded 196.79%, Germany by 20.56%, Italy by 13.92% and China by 12.78%; while those from the US decreased by 28.23% in the review period.
In May 2024, "Motor Cars & Other Motor Vehicles for the Transport of Persons”, was at the top of the imported group and valued at QR0.8bn, which increased 72.3% year-on-year.
In second place was "Parts of Aeroplanes or Helicopters" with a value of QR0.4bn, showing an annual increase of 50% in May 2024.
The "Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc. and Parts Thereof" group saw imports of QR0.3bn, which however decreased 20% on an annualised basis in May 2024.

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Gulf Times

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