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193180
Wed, 07/06/2011 - 10:28
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https://oananews.org//node/193180
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UAE's non-oil trade grows 14% year-on-year in 2010, says new report
Abu Dhabi, July 6, 2011 (WAM) - Non-oil foreign trade of the United Arab Emirates (UAE) in 2010 witnessed significant growth of 14% year-on-year, according to Ministry of Foreign Trade (MoFT) in a new report.
MoFT's new report shows that the UAE foreign non-oil trade grew by 14% (or Dh94 billion) year-on-year, jumping from Dh660.4 billion in 2009 to Dh754.4 billion in 2010.
MoFT said the report which was prepared by researcher Dr. Abdul Hameed Redwan and supervised by Dr Mattar Ahmed Al Ali, Director of MoFT's Department of Analysis and Trade Information gives detailed analysis of the structure of the UAE's foreign trade to enable decision makers at both the public and private sectors to take whatever steps to meet the demands of boosting the country's economic growth.
The UAE's foreign trade did not, according to the report, take a downward trend throughout the past ten years except for the year 2009 in the wake of the global financial crisis which led international trade to shrink by 13% in the same year.
In 2010, UAE's foreign trade started to recover its pre-crisis growth trend and went up by 14%, or Dh94 billion, to Dh757.4 billion compared with Dh660.4 billion in 2009.
EXPORTS: Exports grew by 27% in 2010 to account for 11%, or Dh83.1 billion, of the UAE's foreign trade in 2010, compared with 8.1% in 2009. During the global financial crisis, gold and jewellery exports grew by 37% to leverage the UAE's foreign trade growth to 8%. In 2010, non-oil exports, except for gold, could achieve a 24% growth rate. Between 2008-2010, the UAE's technology exports accounted for about 25% of the total exports.
GEOGRAPHICAL DISTRIBUTION OF EXPORTS: MoFT's report shows that UAE goods had presence in 198 markets around the world, with twelve markets valued over Dh1 billion dominating 77% of the total exports and 137 markets receiving 3% of the total exports each.
Asian markets were the largest destination of UAE exports taking up to 47%, followed by European markets with 23% while American and African markets ,combined, accounted for only 8%.
The twelve market which account for 77% of the UAE total exports grew by Dh16.4 billion, or 92% of the growth of the country's exports. Traditional partners such as India and Switzerland took the lead. The increase in UAE's exports to India alone reached Dh6.1 billion in 2010, or a third of the total increase, followed by Switzerland with Dh4.7 billion. Non-traditional partners such as Norway received an additional Dh2.6 billion, or 15%, of UAE exports, and Brazil with Dh2.8 billion, or 16% of the total increase.
UAE Gold exports declined by Dh3.1 billion. India maintained the UAE's gold top importer with Dh24.2 billion in gold bullion accounting for over 85% of UAE's total exports to India.
Gold bullions are the driver of the upward trend in UAE's exports to India as they accounted for 85% of the year-on-year growth in 2010. Switzerland came second with Dh4.7 billion in 2010 where gold bullion and other precious metals dominated the UAE's exports to Switzerland and were the main driver of growth.
Saudi Arabia came in the third position in 2010 as its imports from the UAE achieved a growth rate of 24%, or Dh690 million, driven by iron and steel products which increased by Dh242 million, or 35% and copper products (Dh168 million or 24%).
Gold bullion exports reached Dh1.035 million in 2010 down from 1.076 billion in 2009.
UAE's exports to Brazilian markets grew by Dh2.8 billion in 2010 led by floating and submersible drilling and production platforms which accounted for Dh2.79 billion from the emirate of Abu Dhabi alone, accounting for 99.6% of the upward trend in UAE's exports to Brazil.
EXPORT GOODS: The value of UAE exports of gold amounted to Dh38.38 billion in 2010 up by Dh7.58 billion from Dh30.8 billion in 2009. This increase accounted for 43% of the total increase of UAE exports. 97% of the total increase came from trading with India and Switzerland.
Floating and submersible drilling and production platforms topped the list of UAE exports in 2010 and grew by 367% to reach Dh5.6 billion, up from Dh1.2 billion in 2009. In 2009, Nigeria was the only destination of this category of UAE exports but it left the list in the next year in favour of three other countries.
RE-EXPORTS: Re-exports is the accounted for 25% of the UAE's total foreign trade and maintained its position as the second largest contributor after exports throughout the past ten years to reach Dh185.9 billion in 2010 up by Dh38.2 billion from 2009.
Over the past five years, re-exports fluctuated and growth even went down to minus 2% but picked up in 2007 and 2008 to decline in 2009 in the wake of the global financial crisis to fall to as low as minus 9%.
Data show that the value of re-exported gold and precious stones amounted to Dh73.7 billion (or 40% of the total value of all re-exports) in 2010 to account for 64% of the growth of all exports in 2010.
The trend shows that gold and precious stones re-exports control the general upward trend of total UAE's re-exports. For instance, in 2006, this category of re-exports declined by 9% pushing the growth rate of other re-exports to 2% to affect the growth rate of all re-exports to minus 2%. Later in 2009, gold re-exports declined by 22% to push the growth rate of all re-exports by 50% to as low as 26% although other categories' growth rates did not exceed 14%.
The UAE's total gold trade grew at 40% in 2010 pushing the growth rate of total foreign trade to 14%.
72% of the UAE's re-exports concentrated in ten markets, topped by India with 28% or Dh52.5 billion. The growth of re-exports to these ten markets amounted to Dh40 billion and could compensate a decline of 14% and 5% in 2010 in the value of re-exports to Saudi Arabia and Qatar respectively.
GEOGRAPHICAL DISTRIBUTION OF RE-EXPORTS: Asian markets receive the lion's share of UAE's total re-exports with 58%, followed by Arab markers with 13%. The Arab and Gulf countries received Dh22.4 billion in UAE re-exports in 2010, beating European markets in terms of relative importance.
Growth of re-exports to India exceeded 100% in 2010 compared with figures of 2009. Gold and diamond had the lion's share of 95% of total UAE's re-exports to the subcontinent putting the UAE on top of gold and diamond exporters to India with 30%.
Iran came in the second place with Dh5.5 billion contributing 21% to the growth of UAE's re-exports in 2010. Excluding gold from UAE's re-exports pushes Iran to the first place among largest destinations and India to the 8th place. Otherwise, India, according to the report, is the single largest recipient of UAE's gold re-exports with 65%.
Re-exports to India is dominated by diamond (HS code 7102) with 85% or Dh44.3 billion in 2010, compared with Dh18.7 billion in 2009, posting a growth of 137% to account for 92% of total re-exports to India. This increase alone accounts for 67%, or Dh38.2 billion, of the UAE's total re-exports to the world.
Re-exports to Iran are diverse and include more than 3000 types of goods topped by gold and jewellery with Dh 2.4 billion compared with Dh1.6 in 2009, to account for a growth by 30% of UAE's total re-exports to Iran.
Iraq comes next as the third largest destination of UAE's re-exports with Dh15.2 billion in 2010. The number of re-exported goods to Iraq went up to 2535 dominated by cellular phone sets with 23% or Dh3.6 billion, followed by gold and jewellery (9% or Dh1.4 billion).
IMPORTS: Imports account for two thirds of the UAE's total foreign trade which grew by 8% (or Dh38 billion) to reach Dh485.4 in 2010, compared with figures in 2009.
In 2008 in particular, UAE's imports jumped by 46% as the UAE's GDP grew by 23% in 2007. About two thirds of UAE's imports are converted into re-exports. This rate remained almost unchanged over the past ten years, but in 2010, it went up to 38% leaving 62% for consumption in the local markets.
The value of total UAE's imports amounted to Dh300 billion, accounting for 40% of the country's non-oil GDP in 2010.
GEOGRAPHICAL DISTRIBUTION: Imports from Asia account for 48% of the UAE's total imports from the world. India topped the UAE's imports list with more than Dh83.4 billion in 2010 accounting for 21% of the UAE's imports in the same year. The figures show a year-on-year growth by 35%. This rate alone accounts for 57% of the increase in the value of imports in 2010. Gold, diamond and jewellery dominated the list of imports with Dh41.4 billion in 2010.
China came in second as UAE's second largest source of imports. These were centred on telephone sets which value increased by 11% year-on-year, or Dh5.7 billion, in 2010, followed by data processing machines with Dh167 million, and furniture which grew by 2% in 2010.
Motor vehicles accounted for 58%, or Dh16.5 billion, of the UAE's total imports from Japan in 2010. This group of imports grew by 28% to compensate a decline by 25% in other chapters. Overall, imports from Japan grew by 6%.
Imports from Switzerland in 2010 totalled Dh11.5 billion in 2010, posting a 15% growth over 2009. Imports from the European country were centred on gold (Dh5.5 billion), watches (Dh1 billion) and diamond (Dh819 million) which, combined account for 64% of UAE's total imports and posting a growth of 22% compared with only 2% for other goods.
About 30% of UAE imports which totalled Dh137 billion are centred on gold, including gold plated with platinum (HS code 7108), diamonds, whether or not worked, but not mounted or set (HS code 7102) and articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal (HS code 7113). The value of this group of imports increased Dh38 billion in 2010, while their volume went up by 5.4% from 800.3 tons in 2009 to 842.2 tons in 2010. This growth compensated a decline by 2% and 19% in 2009 and 2010 respectively in the volume of telephone sets, aircraft spare parts. - Emirates News Agency, WAM
MoFT's new report shows that the UAE foreign non-oil trade grew by 14% (or Dh94 billion) year-on-year, jumping from Dh660.4 billion in 2009 to Dh754.4 billion in 2010.
MoFT said the report which was prepared by researcher Dr. Abdul Hameed Redwan and supervised by Dr Mattar Ahmed Al Ali, Director of MoFT's Department of Analysis and Trade Information gives detailed analysis of the structure of the UAE's foreign trade to enable decision makers at both the public and private sectors to take whatever steps to meet the demands of boosting the country's economic growth.
The UAE's foreign trade did not, according to the report, take a downward trend throughout the past ten years except for the year 2009 in the wake of the global financial crisis which led international trade to shrink by 13% in the same year.
In 2010, UAE's foreign trade started to recover its pre-crisis growth trend and went up by 14%, or Dh94 billion, to Dh757.4 billion compared with Dh660.4 billion in 2009.
EXPORTS: Exports grew by 27% in 2010 to account for 11%, or Dh83.1 billion, of the UAE's foreign trade in 2010, compared with 8.1% in 2009. During the global financial crisis, gold and jewellery exports grew by 37% to leverage the UAE's foreign trade growth to 8%. In 2010, non-oil exports, except for gold, could achieve a 24% growth rate. Between 2008-2010, the UAE's technology exports accounted for about 25% of the total exports.
GEOGRAPHICAL DISTRIBUTION OF EXPORTS: MoFT's report shows that UAE goods had presence in 198 markets around the world, with twelve markets valued over Dh1 billion dominating 77% of the total exports and 137 markets receiving 3% of the total exports each.
Asian markets were the largest destination of UAE exports taking up to 47%, followed by European markets with 23% while American and African markets ,combined, accounted for only 8%.
The twelve market which account for 77% of the UAE total exports grew by Dh16.4 billion, or 92% of the growth of the country's exports. Traditional partners such as India and Switzerland took the lead. The increase in UAE's exports to India alone reached Dh6.1 billion in 2010, or a third of the total increase, followed by Switzerland with Dh4.7 billion. Non-traditional partners such as Norway received an additional Dh2.6 billion, or 15%, of UAE exports, and Brazil with Dh2.8 billion, or 16% of the total increase.
UAE Gold exports declined by Dh3.1 billion. India maintained the UAE's gold top importer with Dh24.2 billion in gold bullion accounting for over 85% of UAE's total exports to India.
Gold bullions are the driver of the upward trend in UAE's exports to India as they accounted for 85% of the year-on-year growth in 2010. Switzerland came second with Dh4.7 billion in 2010 where gold bullion and other precious metals dominated the UAE's exports to Switzerland and were the main driver of growth.
Saudi Arabia came in the third position in 2010 as its imports from the UAE achieved a growth rate of 24%, or Dh690 million, driven by iron and steel products which increased by Dh242 million, or 35% and copper products (Dh168 million or 24%).
Gold bullion exports reached Dh1.035 million in 2010 down from 1.076 billion in 2009.
UAE's exports to Brazilian markets grew by Dh2.8 billion in 2010 led by floating and submersible drilling and production platforms which accounted for Dh2.79 billion from the emirate of Abu Dhabi alone, accounting for 99.6% of the upward trend in UAE's exports to Brazil.
EXPORT GOODS: The value of UAE exports of gold amounted to Dh38.38 billion in 2010 up by Dh7.58 billion from Dh30.8 billion in 2009. This increase accounted for 43% of the total increase of UAE exports. 97% of the total increase came from trading with India and Switzerland.
Floating and submersible drilling and production platforms topped the list of UAE exports in 2010 and grew by 367% to reach Dh5.6 billion, up from Dh1.2 billion in 2009. In 2009, Nigeria was the only destination of this category of UAE exports but it left the list in the next year in favour of three other countries.
RE-EXPORTS: Re-exports is the accounted for 25% of the UAE's total foreign trade and maintained its position as the second largest contributor after exports throughout the past ten years to reach Dh185.9 billion in 2010 up by Dh38.2 billion from 2009.
Over the past five years, re-exports fluctuated and growth even went down to minus 2% but picked up in 2007 and 2008 to decline in 2009 in the wake of the global financial crisis to fall to as low as minus 9%.
Data show that the value of re-exported gold and precious stones amounted to Dh73.7 billion (or 40% of the total value of all re-exports) in 2010 to account for 64% of the growth of all exports in 2010.
The trend shows that gold and precious stones re-exports control the general upward trend of total UAE's re-exports. For instance, in 2006, this category of re-exports declined by 9% pushing the growth rate of other re-exports to 2% to affect the growth rate of all re-exports to minus 2%. Later in 2009, gold re-exports declined by 22% to push the growth rate of all re-exports by 50% to as low as 26% although other categories' growth rates did not exceed 14%.
The UAE's total gold trade grew at 40% in 2010 pushing the growth rate of total foreign trade to 14%.
72% of the UAE's re-exports concentrated in ten markets, topped by India with 28% or Dh52.5 billion. The growth of re-exports to these ten markets amounted to Dh40 billion and could compensate a decline of 14% and 5% in 2010 in the value of re-exports to Saudi Arabia and Qatar respectively.
GEOGRAPHICAL DISTRIBUTION OF RE-EXPORTS: Asian markets receive the lion's share of UAE's total re-exports with 58%, followed by Arab markers with 13%. The Arab and Gulf countries received Dh22.4 billion in UAE re-exports in 2010, beating European markets in terms of relative importance.
Growth of re-exports to India exceeded 100% in 2010 compared with figures of 2009. Gold and diamond had the lion's share of 95% of total UAE's re-exports to the subcontinent putting the UAE on top of gold and diamond exporters to India with 30%.
Iran came in the second place with Dh5.5 billion contributing 21% to the growth of UAE's re-exports in 2010. Excluding gold from UAE's re-exports pushes Iran to the first place among largest destinations and India to the 8th place. Otherwise, India, according to the report, is the single largest recipient of UAE's gold re-exports with 65%.
Re-exports to India is dominated by diamond (HS code 7102) with 85% or Dh44.3 billion in 2010, compared with Dh18.7 billion in 2009, posting a growth of 137% to account for 92% of total re-exports to India. This increase alone accounts for 67%, or Dh38.2 billion, of the UAE's total re-exports to the world.
Re-exports to Iran are diverse and include more than 3000 types of goods topped by gold and jewellery with Dh 2.4 billion compared with Dh1.6 in 2009, to account for a growth by 30% of UAE's total re-exports to Iran.
Iraq comes next as the third largest destination of UAE's re-exports with Dh15.2 billion in 2010. The number of re-exported goods to Iraq went up to 2535 dominated by cellular phone sets with 23% or Dh3.6 billion, followed by gold and jewellery (9% or Dh1.4 billion).
IMPORTS: Imports account for two thirds of the UAE's total foreign trade which grew by 8% (or Dh38 billion) to reach Dh485.4 in 2010, compared with figures in 2009.
In 2008 in particular, UAE's imports jumped by 46% as the UAE's GDP grew by 23% in 2007. About two thirds of UAE's imports are converted into re-exports. This rate remained almost unchanged over the past ten years, but in 2010, it went up to 38% leaving 62% for consumption in the local markets.
The value of total UAE's imports amounted to Dh300 billion, accounting for 40% of the country's non-oil GDP in 2010.
GEOGRAPHICAL DISTRIBUTION: Imports from Asia account for 48% of the UAE's total imports from the world. India topped the UAE's imports list with more than Dh83.4 billion in 2010 accounting for 21% of the UAE's imports in the same year. The figures show a year-on-year growth by 35%. This rate alone accounts for 57% of the increase in the value of imports in 2010. Gold, diamond and jewellery dominated the list of imports with Dh41.4 billion in 2010.
China came in second as UAE's second largest source of imports. These were centred on telephone sets which value increased by 11% year-on-year, or Dh5.7 billion, in 2010, followed by data processing machines with Dh167 million, and furniture which grew by 2% in 2010.
Motor vehicles accounted for 58%, or Dh16.5 billion, of the UAE's total imports from Japan in 2010. This group of imports grew by 28% to compensate a decline by 25% in other chapters. Overall, imports from Japan grew by 6%.
Imports from Switzerland in 2010 totalled Dh11.5 billion in 2010, posting a 15% growth over 2009. Imports from the European country were centred on gold (Dh5.5 billion), watches (Dh1 billion) and diamond (Dh819 million) which, combined account for 64% of UAE's total imports and posting a growth of 22% compared with only 2% for other goods.
About 30% of UAE imports which totalled Dh137 billion are centred on gold, including gold plated with platinum (HS code 7108), diamonds, whether or not worked, but not mounted or set (HS code 7102) and articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal (HS code 7113). The value of this group of imports increased Dh38 billion in 2010, while their volume went up by 5.4% from 800.3 tons in 2009 to 842.2 tons in 2010. This growth compensated a decline by 2% and 19% in 2009 and 2010 respectively in the volume of telephone sets, aircraft spare parts. - Emirates News Agency, WAM
