Qatar’s trade surplus rises 2% y/y to USD 8.9bn in June 2013

By bne IntelliNews August 29, 2013

Qatar’s foreign trade surplus increased 2% y/y to QAR 32.15bn (USD 8.9bn) in June 2013, quickening from a 0.5% rise a month earlier as exports growth strengthened while that of imports slowed, data from the stats office showed. Total exports (including re-exports) rose 2.4% y/y to QAR 39.77bn in June and imports grew 4.1% (up 7.3% in May) to QAR 7.62bn.

Petroleum gases and other gaseous hydrocarbons exports edged down 0.3% y/y to QAR 25.72bn (64% of total sales) in June. Petroleum oils and oils from bituminous minerals exports rose 9.6% y/y to QAR 7.12bn.

The main export markets were Japan with a share of 28% of the total, followed by South Korea and India with 18% and 11%, respectively.

Motor cars and other passenger vehicles and aircraft spare parts remained the main imported products in June. The US was the main import market (13% of the total), followed by China and the UAE with 11% and 8% respectively.

Qatar's current account (CA) surplus expanded 32% y/y to QAR 71.3bn in January-March 2013 mainly on rising trade surplus which helped offset falling services and other components income. The CA surplus accounted for roughly 38.5% of the full-year GDP forecast. 

The IMF forecast 29.3% of GDP current account surplus in 2013.

Related Articles

Lebanon becomes European Bank for Reconstruction and Development shareholder

Lebanon has become the fifth member country from the Southern and Eastern Mediterranean (SEMED) region to join the European Bank for Reconstruction and Development (EBRD), becoming a shareholder with ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

US lifts laptop ban on Turkish Airlines flights as of July 5

Passengers boarding an early morning July 5 Turkish Airlines (THY) flight to John F Kennedy International Airport in New York were allowed to include laptops and electronic devices larger than a ... more