Qatar's trade surplus recorded QR16.35bn in January 2018, representing 52% growth on a yearly basis and 10% month-on-month, according to official figures.
The country's exports grew much faster than imports, thus helping register a robust two-digit expansion in trade surplus year-on-year, according to the figures released by the Ministry of Development Planning and Statistics.
In absolute terms, South Korea, Japan, China, India and Singapore were among the largest export markets of Qatar; while imports mainly came from China, the US, India, Japan and Germany this January.
Faster expansion in the shipments to Singapore, China and South Korea led Qatar’s total exports (valued free-on-board) to reach QR25.93bn in January 2018, showing a 29% yearly increase. On a monthly basis, it was up mere 0.1%.
A robust double-digit surge especially in the shipments of crude and petroleum gases helped Qatar’s total exports of domestic products grow about 33% year-on-year to QR25.35bn. On a monthly basis, the growth was a meager 0.2%.
On a yearly basis, Doha's crude exports vaulted 77% to QR4.2bn, petroleum gases by 28% to QR16.88bn, other commodities by 22% to QR2.56bn and non-crude by 17% to QR1.71bn this January.
On a monthly basis, the country's shipments of petroleum gases increased 18% and non-crude by 1%; whereas those of crude plummeted 35% and other commodities by 9% in the review period.
Petroleum gases constituted 67% of total exports of domestic products in January 2018 compared to 69% in the corresponding period of 2017; crude 17% (12%), other commodities 10% (11%) and non-crude 7% (8%).
On exports destinations, South Korea accounted for 19% of total exports from Qatar this January, Japan 18%, China 13%, India 11% and Singapore 8%.
Qatar's exports to Singapore more than tripled year-on-year to QR2.02bn; those to China surged 51% to QR3.25bn; South Korea by 34% to QR4.88bn and India by 10% to QR2.65bn; whereas those to Japan declined 1% to QR4.48bn.
Against December 2017 levels, Doha's exports to South Korea expanded 28%, while those to Singapore reported 37% plunge, India by 19% and Japan by 10%. The shipment to China rather treaded a flat course.
The country's re-exports amounted to QR0.58bn in January 2018, which represented 44% and 2% decline on yearly and monthly basis respectively.
Qatar's total imports (valued at cost insurance and freight) were up 2% year-on-year to QR9.58bn this January. However, it registered 13% decline month-on-month.
China and the US accounted for 14% each of Qatar's imports in January this year; and India, Japan and Germany 6% each.
On a yearly basis, Qatar's imports from India soared 61% to QR0.59bn, the US by 20% to QR1.37bn and China by 9% to QR1.38bn; whereas those from Germany shrank 11% to QR0.53bn and Japan by 1% to QR0.55bn.
Against the previous month's levels, the shipments from the US fell 57%, Germany by 23% and China by 7%; while those from Japan grew 30% and India by 5%.
Motorcars, turbojets and electrical apparatus for line telephony comprised the main components in Qatar's import basket this January.
Doha imported motorcars valued at QR0.56bn; turbojets, turbo propellers (QR0.53bn), electrical apparatus for line telephony (QR0.32bn) and other commodities (QR8.17bn).