DOHA: Despite the ongoing siege against Qatar, country’s trade surplus witnessed a sharp jump in April 2018 year-on-year, mainly as a result of increase in exports with the significant rebound in energy prices.

When compared on monthly basis, the trade balance increased by nearly QR1.4bn, or 10.7 percent, against the previous month (March 2018), preliminary figures released by the Ministry of Development Planning and Statistics (MDPS) show.

In April 2018, the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR24bn, showing an increase of 27.3 percent compared to April 2017, and increased by 0.5 percent compared to March 2018.

On other hand, the imports of goods in April 2018 amounted to around QR9.2bn, registering an increase of 3.1 percent over April 2017. However, on a month-on-month (M-o-M) basis the imports decreased by 12.5 percent.

The year-on-year increase in total exports was mainly due to higher exports of Petroleum gases and other gaseous hydrocarbons (LNG, condensates, propane, butane, etc) reaching QR14.1bn approximately in April 2018, i.e. an increase of 22.9 percent, Petroleum oils and oils from bituminous minerals (crude) reaching QR3.9bn nearly, increased by 41.5 percent, and increase in the Petroleum oils and oils from bituminous minerals (not crude) reaching QR 2.1bn, increased by 83.7 percent.

In April 2018, Japan was at the top of the countries of destination of Qatar’s exports with close to QR4.7bn, a share of 19.6 percent of total exports, followed by South Korea with almost QR4.1bn and a share of 17.1 percent, China with about QR2.6bn, a share of 10.7 percent.

During April 2018, the group of “Motor cars and other passenger vehicles” was at the top of the imported group of commodities, with QR0.6bn, showing a decrease of 4.9 percent compared to April 2017.

In second place was “Parts of Balloons etc; Parts of Aircraft, Spacecraft Etc” with QR0.3bn, increase of 19.0 percent and in third place was “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc; Parts Thereof” with QR0.2bn, showing a decrease of 35.5 percent.