More-than-doubled exports of petroleum gases and a robust double digit growth in the shipments of crude as well as non-crude led Qatar's trade surplus almost triple year-on-year to QR25.68bn in December 2021, according to the official statistics.
The rebound in the country's merchandise trade surplus has been enabled by robust expansion in the shipments to Asian countries, despite the scare of Omicron variant of the Covid-19 pandemic, during the period in review, according to figures released by the Planning and Statistics Authority.
Qatar's trade surplus showed a 4.7% month-on-month jump in December 2021 as crude exports faster than the other commodities.
The country's total exports of goods (including exports of goods of domestic origin and re-exports) were QR35.6bn, showing a stupendous 107.8% surge year-on-year and 3.8% compared to November 2021.
In December 2021, Qatar's shipments to China amounted to QR7.14bn or 20.1% of the total exports of the country, followed by South Korea QR5.13bn (14.4%), India QR4.95bn (13.9%), Japan QR4.15bn (11.6%) and Singapore QR1.74bn (4.9%).
On a yearly basis, Qatar's exports to China and South Korea more than doubled and those to India soared 74.89%, Japan 54.34% and Singapore 12.97% in the review period.
On a monthly basis, Qatar's exports to South Korea shot up 44.19%, India by 41.39%, China by 40.55% and Singapore by 4.31%; whereas those to Japan declined 7.47% in December 2021.
The exports of petroleum gases and other gaseous hydrocarbons shot up 147.1% to QR23.22bn, non-crude by 77.9% to QR2.73bn, crude by 47.9% to QR4.44bn and other commodities by 83.9% to QR4.24bn.
On a monthly basis, the exports of crude shot up 8.8%, petroleum gases by 3.7% and other non-specified commodities by 1%; even as non-crude shrank 4.8% in December 2021.
Petroleum gases constituted 67.07% of the exports of domestic products in December 2021 compared to 57.88% a year ago period; followed by crude 12.82% (18.47%), non-crude 7.89% (9.42%) and other commodities 12.25% (14.16%).
Qatar's total imports (valued at cost insurance and freight) amounted to QR9.93bn, which showed 16.2% and 1.7% increase year-on-year and month-on-month in December 2021.
The country's imports from China stood at QR1.75bn, which accounted for 17.7% of the total imports; followed by the US at QR1.35bn (13.6%), the UK QR0.61bn (6.1%), India QR0.59bn (5.9%) and Indonesia QR0.54bn (5.4%).
On a yearly basis, Qatar's imports from Indonesia were seen growing about 19-fold, those from the UK soared 63.98%, China by 34.64%, the US by 15.24% and India by 12.48% in December 2021.
On a monthly basis, the country's imports from Indonesia more than quadrupled, and those from the UK expanded 51.36%, the US by 23.15% and India by 8.86%; whereas those from China shrank 4.62% in the review period.
In December 2021, the "Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets; parts thereof" group was at the top of the import portfolio with value totalling QR0.5bn, showing a yearly increase of 15.6%.
In the second place was "Motor Cars and other Motor Vehicles for the Transport of Persons" with QR0.4bn in value, showing an increase of 84.9% and in third place was "Part of balloons: parts of aircraft, spacecraft" with QR0.3bn, an increase of 23.4%.