Qatar saw its trade surplus decline sharply in May, driven by a drop in oil and gas export revenues amid lower global commodity prices.
According to official statistics, Qatar's merchandise trade surplus fell 46.8% year-on-year in May to QR18.2 billion.
Export revenues declined 35.3% to QR27.8 billion during the month, as prices for Qatar's key oil and liquefied natural gas exports fell.
Meanwhile, import bill rose 9.5% to QR9.6 billion, supported by higher domestic demand.
China remained Qatar's top export destination in May, accounting for 16.7% of total Qatari exports at QR4.6 billion. The United States was the largest source of Qatar's imports, with a share of 19.3% at QR1.8 billion.
The shrinking trade surplus in May reflects the impact of lower global commodity prices on Qatar's hydrocarbons sector, which dominates the tiny Gulf state's economy.
However, rising domestic demand helped buoy Qatar's non-energy imports during the month, partially offsetting the fall in export earnings.
