Qatar’s trade balance drops 13.7 percent in October

27 Nov 2014

(MENAFN) According to Qatar’s Ministry of Development Planning and Statistics, Qatar’s trade balance registered a decline to USD7.13 billion during the month of October, down by 13.7 percent compared to USD8.25 billion in October 2013, The Peninsula Qatar reported

In October, the total exports of goods amounted to USD9.74 billion, registering a decrease by 7.1 percent compared to the corresponding month of 2013, while imports of goods amounted to USD2.63 billion, which is an increase by 17.3 percent in comparison with the same month last year.

The ministry attributed the decline in the value of exports to the lower amount of exported Petroleum gases and other gaseous hydrocarbons, including LNG, condensates, propane, butane, among others, which reached USD6.06 billion in October, declining by 5.7 percent compared to the same month last year.

In terms of countries, Japan topped the list of export destination with USD2.22 million, accounting for 22.9 percent of total exports, followed by South Korea with USD1.53 billion or 15.8 percent of total exports, then India with USD1.23 billion, which accounted for 12.5 percent of total exports.

While in regards to imports, USA was the leading country of origin of Qatar’s imports with USD274.40 million, accounting for 10.4 percent of the total imports, followed by China with USD246.96 million or 9.8 percent, then Japan with USD219.52 million, which accounted for 8.2 percent of total imports.