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Qatar’s trade balance surplus jumps 78% to $4.2bn

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The annual export jump for Qatar was mainly due to higher sale of petroleum gases and other gaseous hydrocarbons.

Qatar’s trade balance surplus grew 78 percent year-over-year in July to QR 15.2 billion ($4.17 billion), the state-owned Qatar News Agency reported, citing official data.

Preliminary figures showed that the total value of exports, including exports of goods of domestic origin and re-export, reached QR 44.4 billion, up 61.9 percent year-on-year, according to data released by the Planning and Statistics Authority.

On the other hand, imports of goods reached nearly QR 9.6 billion in July, rising 21.8 percent year-on-year.

The annual export jump was mainly due to rise in petroleum gases and other gaseous hydrocarbons such as LNG, condensates, propane, and butane.

India topped Qatar’s export list with nearly QR 5.7 billion, followed by Japan (QR 5.12 billion) and South Korea (QR 5.08 billion).

China was the leading country of origin for Qatar’s imports with nearly QR 1.7 billion, followed by the US (QR 1.6 billion) and India (QR 0.6 billion).