Qatar Records a Merchandise Trade Balance Surplus of QR 20.6 billion

Doha, August 22 (QNA) - The Ministry of Development Planning and Statistics (MDPS) on Monday publish the "Quarterly Bulletin on Qatar Foreign Merchandise Trade Statistics, Q2 2016", comprising quarterly data on imports, exports, re-exports, and trade balance. In Q2 2016, Qatar recorded a merchandise trade balance surplus (difference between total exports and imports) of QR 20.6 billion, down from QR 43.7 billion in Q2 2015. The value of Qatars total exports (including exports of domestic goods and re-exports) amounted to QR 49.4 billion, decreased by QR 23.7 billion (32.4%) compared to Q2 2015 total exports of QR 73.1 billion. The Q2 2016 year on year (Y-o-Y) declined in total exports was mainly due to lower exports of Mineral fuels, lubricants and related materials by QR 21.3 billion, Chemicals and related products nes ., QR 1.8 billion, and Manufactured goods classified chiefly by material, QR 0.6 billion. According to the bulletin, value of Qatars imports in Q2 2016 was QR 28.8 billion; decreased by QR 0.5 billion (1.7%) compared to Q2 2015 imports of QR 29.3 billion. The Q2 2016 Y-o-Y decrease in imports reflected decreases in Machinery and transport equipment by QR 1.4 billion, and Manufactured goods classified chiefly by material by QR 0.3 billion. In the other hand increases was recorded in Miscellaneous manufactured articles by QR 1.2 billion, Chemicals and related products nes by QR 0.2. During Q2 2016, Asia was the principal destination of Qatars exports and the first origin of Qatars imports, representing 70.8% and 30.7% respectively, followed by the European Union, accounting for 11.8% and 30.7% respectively, and the Gulf Cooperation Council, with 9.8% and 17.3% respectively, according to the bulletin. (QNA)