Qatar imports rebound in August, suggest sanctions impact fading
DUBAI: The value of Qatar’s imports rebounded sharply in August compared to the previous month, government data showed on Wednesday, suggesting the economic impact of sanctions imposed by other Arab states is fading, reported Reuters. Imports plunged by over a third after Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Doha on June 5. The sanctions disrupted shipping routes to Qatar and closed its land border with Saudi Arabia, over which food and building materials were imported. In August, however, imports jumped 39.1 percent from the previous month to 8.68 billion riyals ($2.38 billion), the planning and statistics ministry said. Imports were 7.8 percent below their year-earlier levels, but that marked a major recovery from their levels in June and July, when they dropped more than 35 percent from a year ago.
Tabool ads will show in this div