Complex Made Simple

Qatar’s trade surplus at QAR40 billion in Q3 this year

Records a decline of 40.6 per cent from corresponding quarter of 2014

Qatar’s Ministry of Development Planning and Statistics (MDPS) revealed that Qatar’s trade surplus hit QAR40 billion in the third quarter of 2015.

Qatar-based Raya newspaper reports that this represents a decline compared with QAR88bn in the same quarter of the previous year.

Qatar’s total exports in the third quarter of this year amounted to QAR68.4bn, a decrease of QAR46.8bn or 40.6 per cent, compared with QAR115.2bn in the corresponding quarter of 2014, MDPS’s report adds.

The decline was mainly due to lower volumes in the export of mineral fuels, lubricants and related materials by QAR46.4bn and manufactured goods by QAR1.1bn. However, an increase of QAR0.5bn was recorded in chemical and related products.

Meanwhile, the combined value of Qatar’s imports in Q3 was QAR28.3bn, showing an increase of QAR1.1bn or 4.3 per cent, compared with Q3 2014 imports of QAR27.2bn.

The YoY rise in imports mainly reflected the increase of machinery and transport equipment by QAR0.2bn, food and live animals by QAR0.3bn and miscellaneous manufactured articles by QAR0.2bn.

(QAR1 = AED 1.01, at the time of publishing)