Qatar's Trade balance in surplus of QR7.4 billion in February

DOHA, 28th March, 2016 (WAM) — The Ministry of Development Planning and Statistics of Qatar has announced that Qatar trade surplus was QR7.4 billion in February.

Qatar’s exports in February were QR17 billion, a 32.5% decline year-on-year. It represents a decline of 4.8% compared to January 2016. Revenue from gas and hydrocarbons exports declined in February to QR10.2 billion. Imports meanwhile were QR9.6 billion, a 10.1% decline compared to January 2016.

Japan was the top destination for Qatari exports, with 17.2% of total exports. Its followed by South Korea which imported 15.7% of Qatar’s exports. India was in third place, representing 13.6%.

As for imports, Qatar relied on the US for 12.1% of its needs. China was in second place, with 10.3% of Qatar’s imports coming from there while UAE’s products represented 9.4% of Qatar’s imports.