Qatar’s foreign merchandise trade balance, which represents the difference between total exports and total imports, has shown a surplus of QR40.7bn in the second quarter (Q2) of 2019.
This trade surplus was QR47.7bn in the same quarter of the previous year, according to ‘Window on Economic Statistics of Qatar’ report released yesterday by the Planning and Statistics Authority (PSA).
The quarterly report contains important statistics related to the country’s economic growth, trade balance, inflation and other important financial parameters.
Total exports, which included exports of domestic origin and re-exports, amounted to QR66.9bn in the second quarter while imports of merchandise amounted to QR26.3bn in the second quarter of 2019. Japan, South Korea, China, Singapore were among the largest export markets of Qatar while the US, China, Germany, India, United Kingdom were among the countries where imports came from during the second quarter of this year.
According to the report, the quarterly Gross Domestic Product (GDP) at current prices in Q2 of 2019 was estimated at QR163.45bn, which shows a decline of 3.9 per cent compared to estimated QR170.14bn in Q2 of 2018. When compared to the previous quarter (Q1 of 2019) revised the estimate of QR 168.14bn, a decrease of 2.8 per cent is recorded. The quarterly GDP at constant prices in Q2 of 2019 was QR200.21bn shows a decrease of 1.4 per cent compared to estimated QR203.14bn in Q2 of 2018. However, compared to Q1 of 2019 revised estimate of QR202.12bn a decrease of 0.9 per cent is recorded.
The report also provided details about inflation through the Consumer Price Index (CPI). The index is a measure that examines the change in the weighted average of prices of a basket of consumer goods and services such as food, clothing, rental, transportation, etc. The CPI is produced on a monthly basis. The quarterly index is obtained as a simple average of the monthly CPI. The quarterly CPI for the second quarter of 2019, showed an increase of 0.3 per cent compared to the previous quarter, and a 0.5 per cent decrease when compared to the corresponding quarter of 2018.
The Producer Price Index (PPI) for Q2 2019 showed a decrease of 3.5 per cent, when compared with the previous quarter (Q1 of 2019), and 7 per cent when compared with the corresponding quarter of 2018. PPI is an index designed to measure either the average change in the price of goods as they leave the place of production or as they enter the production process. As from 2013, the PPI is produced on a monthly basis.
