Qatar’s trade surplus widens by 15.8% on higher shipments of gas

RIYADH: Qatar’s merchandise trade surplus surged by a monthly rate of 15.8 percent in November, hitting 24.5 billion rials ($6.7 billion), data from the country’s Planning and Statistics Authority showed.

Exports – which includes both domestic goods and re-exports – went up by 13.9 percent to reach 34.3 billion rials. Jumps in shipments of petroleum gas and other gaseous hydrocarbons drove this increase, as they rose by 18.9 percent.

In annual terms, exports soared by 106.6 percent in November.

Observing the destination of these shipments, China received the bulk, purchasing 14.8 percent of Qatari exports. Japan and South Korea followed, with shares of 13.1 percent and 10.4 percent, respectively.

Meanwhile, Qatar’s imports experienced a monthly hike of 9.6 percent to stand at 9.8 billion rials during November, the authority said. 

Purchases of electrical apparatus for line, telephony and telephone sets underwent the highest rise, going up by 18.3 percent.

Imports were 29.6 percent higher in November from a year ago.

Again, China was the main partner in providing goods, selling 18.8 percent of foreign goods bought by Qatar. 

The US and Germany came next with shares of 11.2 percent and 7.2 percent, respectively.