Non-oil UAE trade fetches Dh600 billion in eight months

Abu Dhabi, Jan 9, 2012 (WAM) - UAE non-oil foreign trade has shown progressive growth during the eight months of 2011 compared to the same period of the previous year. Federal Customs Authority (FCA) preliminary statistics show that UAE non-oil foreign trade has grown for the stated period by 22% compared to the same period of the previous year as Total non-oil Foreign Trade has grown from Dh492.5 during the first 8 months of 2010 to Dh600.1 billion in the same period of 2011, i.e., an increase of Dh107.6 billion. In a press release issued yesterday, FCA said that preliminary statistics for the first 8 months of 2011 show a 22% growth in imports to increase from Dh317.5 billion during the first 8 months of 2010 to Dh386 billion for the same period in 2011. On the other hand, exports witnessed an astounding growth by 40% for the same period with an increase from Dh53.6 billion to Dh75.2 billion. Re-exports, however, experienced a growth rate of 15% to go up from Dh121.4 billion to Dh139 billion for the same period. For FCA, in terms of value, UAE total foreign trade in August, 2011 valued YoY Dh76.2 billion compared to Dh66.5 with an increase of 14%. August Imports, in turn, hit YoY Dh48.9 billion with an increase of 18%. Exports achieved YoY Dh10.4 billion with an increase of 15%. Yet, re-exports recorded a YoY increase of 4% to hit Dh16.8 billion. However, weight-wise UAE total foreign trade in August, 2011 has hit 6.8 m tons, of which 4.3 m tons in imports, 1.9 m tons in exports and 641 thousand tons in re-exports. According to the FCA press release, each of India, China, the US, Japan, Germany, South Korea, the UK, Italy, Switzerland, and France respectively, topped exporters' list to the UAE in August, 2011 with a total value of Dh29.4 billion, or 60% of the UAE total imports. On the level of non-oil exports, India, Switzerland, Saudi Arabia, Iran, Kuwait, South Africa, Iraq, Thailand, Turkey, and Hong Kong, respectively, spearheaded importers from the UAE with Dh7.7 billion, accounting for 74% of the UAE exports. Meanwhile, India, Iran, Belgium, Iraq, Hong Kong, Afghanistan, Saudi Arabia, Switzerland, Kuwait, and Qatar topped the list in terms of re-exports with Dh12.4 billion, representing 73% of the UAE total re-exports. The total value of UAE-GCC non-oil foreign trade hit Dh4.8 billion in August, 2011, of which Dh2.2 billion in imports, Dh1.1 billion in exports and Dh1.5 billion in re-exports. Saudi Arabia maintained its first rank among GCC region's trading partners with a total value of Dh2 billion in August, 2011. Kuwait came second with Dh799 m, followed by Oman (Dh727 m), Bahrain (Dh679 m), and finally Qatar (Dh559 m). Further, FCA press release read, "UAE total foreign trade with Arab countries in terms of value amounted to Dh9.5 billion in August, 2011, with Dh5 billion worth of imports, Dh1.8 billion worth of exports and Dh2.7 billion of re-exports. Saudi Arabia topped the list of Arab states in terms of non-oil trade with the UAE, followed by Iraq, Morocco, Sudan, Oman, Bahrain, Kuwait, Qatar, Egypt, and Comoros tailed the list." The preliminary statistical data of August, 2011 showed that gold ranked first among imports with a value of Dh9.4 billion, followed by diamond with Dh4.2 billion, cars with Dh2.6 billion, ornaments and jewellery with Dh1.3 billion, and telephone sets Dh659 m. Gold, according to FCA, also came first among exports in August, 2011 with Dh6.6 billion, followed by petroleum oils and other derivatives with Dh334 m, and ornaments and jewellery with Dh173 m. On the level of re-exports, diamond came first with a total value of Dh5.2 billion, ornaments and jewellery and related parts with Dh934 m, cars (Dh931 m) and telephone sets (Dh784 m). The total trade volume of UAE free zones and markets in August, 2011 amounted to Dh1.3 billion. - Emirates News Agency, WAM