ID :
116240
Mon, 04/12/2010 - 14:34
Auther :
Shortlink :
https://oananews.org//node/116240
The shortlink copeid
UAE non-oil foreign trade stood at Dh53billion last February
Abu Dhabi, April 12, 2010 (WAM)- The UAE's non-oil foreign trade reached Dh53 billion in terms of value in February 2010, according to a preliminary report issued by the Federal Customs Authority (FCA). Out of this amount, imports amounted to Dh35.2 billion, exports were Dh4.9 billion, while re-exports reached Dh12.9 billion.
The total non-oil foreign trade weighed 5.4 million tonnes, out of which 3.3 million were imports, 1.5 million were exports and 0.6 million tonnes were re-exports.
Khalid Ali Al Bustani, Acting Director General of the Authority, said a reading of the February figures in 2009 and 2010 indicated a sustained growth of exports at 1 per cent to Dh4.9 billion in February 2010 against Dh4.8 billion for February 2009, while re-exports grew at 2 per cent from Dh12.92 billion to Dh12.95 billion. Imports declined by 1 per cent from Dh35.6 billion to Dh35.2 billion for the month under review.
''The steep rise in exports and drop in imports indicate to the marked improvement in the balance of trade of the UAE with its foreign trade partners. It shows the growing strength of UAE competitive edge in global markets despite the impact of the world financial crisis which hit the global economies at that time", he added.
Regarding the geographic distribution of foreign trade, the authority's report said India, China, US, Germany, Japan, UK, Italy, South Korea, France and Switzerland were the top 10 countries the UAE imported from in February, with a total value of Dh22.1 billion amounting to 63 per cent of total imports.
Meanwhile, India , Saudi Arabia , Oman , Qatar , Iran , Switzerland , Turkey , Pakistan , Kuwait and Iraq were the top importing countries from the UAE for non-oil exports, which totalled Dh3.6 billion accounting for 74 per cent of the total exports.
India, Iran , Qatar , Saudi Arabia , Afghanistan , Bahrain , Belgium, Kuwait, and Hong Kong were the top re-export markets taking commodities valued at Dh9.1 billion or 70 per cent of total re-exports.
Non-oil foreign trade with GCC countries stood at Dh4.7 billion in February with Saudi Arabia having the lion' share of Dh1.7 billion, followed by Qatar at Dh1.2 billion, Oman at Dh809 million, Bahrain at Dh515 million and Kuwait at Dh498 million.
The total non-oil foreign trade weighed 5.4 million tonnes, out of which 3.3 million were imports, 1.5 million were exports and 0.6 million tonnes were re-exports.
Khalid Ali Al Bustani, Acting Director General of the Authority, said a reading of the February figures in 2009 and 2010 indicated a sustained growth of exports at 1 per cent to Dh4.9 billion in February 2010 against Dh4.8 billion for February 2009, while re-exports grew at 2 per cent from Dh12.92 billion to Dh12.95 billion. Imports declined by 1 per cent from Dh35.6 billion to Dh35.2 billion for the month under review.
''The steep rise in exports and drop in imports indicate to the marked improvement in the balance of trade of the UAE with its foreign trade partners. It shows the growing strength of UAE competitive edge in global markets despite the impact of the world financial crisis which hit the global economies at that time", he added.
Regarding the geographic distribution of foreign trade, the authority's report said India, China, US, Germany, Japan, UK, Italy, South Korea, France and Switzerland were the top 10 countries the UAE imported from in February, with a total value of Dh22.1 billion amounting to 63 per cent of total imports.
Meanwhile, India , Saudi Arabia , Oman , Qatar , Iran , Switzerland , Turkey , Pakistan , Kuwait and Iraq were the top importing countries from the UAE for non-oil exports, which totalled Dh3.6 billion accounting for 74 per cent of the total exports.
India, Iran , Qatar , Saudi Arabia , Afghanistan , Bahrain , Belgium, Kuwait, and Hong Kong were the top re-export markets taking commodities valued at Dh9.1 billion or 70 per cent of total re-exports.
Non-oil foreign trade with GCC countries stood at Dh4.7 billion in February with Saudi Arabia having the lion' share of Dh1.7 billion, followed by Qatar at Dh1.2 billion, Oman at Dh809 million, Bahrain at Dh515 million and Kuwait at Dh498 million.
