Qatar saw a strong double-digit month-on-month surge in exports to India and Singapore as the country recorded an overall trade surplus of QR8.59bn in December 2020, according to the official estimates.
The country's merchandise trade surplus witnessed a 5.2% and 39.8% decline month-on-month and year-on-year respectively in the review period, said the figures released by the Planning and Statistics Authority (PSA).
The Asian region accounted for more than 69% of Qatar's exports with India, China and Japan occupying the first three slots; while the imports came from diversified geographies.
In December 2020, total exports of goods (including exports of goods of domestic origin and re-exports) were QR17.14bn, showing more than 3% surge on a monthly basis but declined 27.3% on a yearly basis.
On a monthly basis, the exports of crude shot up 19.4% to QR3bn, non-crude by 11.2% to QR1.53bn and other non-specified commodities by 5% to QR2.3bn; whereas those of petroleum gases and other gaseous hydrocarbons declined 1.3% to QR9.4bn in December 2020.
The exports of petroleum gases and other gaseous hydrocarbons tanked 36.8% year-on-year, crude by 26.7% and other non-specified commodities by 3.1%; while those of non-crude swelled 8.2%.
Petroleum gases constituted 58% of the exports of domestic products compared to 65% a year ago period, crude 18% (18%), non-crude 9% (6%) and other commodities 14% (10%).
In December last year, Qatar's shipments to India amounted to QR2.83bn or 17% of the total exports; followed by China QR2.76bn (16%), Japan QR2.69bn (16%), South Korea QR2.03bn (12%) and Singapore QR1.54bn (9%).
On a monthly basis, Qatar's exports to Singapore was seen soaring 77.85%, India 45.16% and China 0.88%; while those to South Korea and Japan declined 11.65% and 9.92% respectively in the review period.
On a yearly basis, Qatar's exports to Japan plunged 46.13%, South Korea by 39.55%, Singapore by 25.44%, China by 20.59% and India by 11.64% in December 2020.
The country's re-exports amounted to QR0.9bn, which was down 8.5% month-on-month but shot up 12.3% on a yearly basis in December 2020.
Qatar's total imports (valued at cost insurance and freight) amounted to QR8.55bn, which showed a 13.4% growth month-on-month but shrank 8% year-on-year in the review period.
In December 2020, imports from China stood at QR1.3bn, which accounted for 15% of the total imports in the country; followed by the US QR1.17bn (14%); Germany QR0.66bn (8%); India QR0.52bn (6%) and Italy QR0.49bn (6%).
On a monthly basis, the country's imports from Germany zoomed 59.56%, China by 12.82%, the US by 12.42%, Italy by 9.33% and India by 6.98% in the review period.
On a yearly basis, Qatar's imports from Germany enlarged 27.47%, India by 25.95%, China by 12.24% and Italy 7.42%; whereas those from the US declined 42.86% in December 2020.
In December last year, imports of turbojets and turbojet propellers were valued at QR0.47bn; electrical apparatus for line telephony at QR0.40bn; parts of aeroplanes or helicopters at QR0.24bn; and other non-specified commodities at QR7.44bn.