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UAE Non-oil Trade Hits AED 676.3 bln During First 9 Months

Middle East : 15 January 2012

Source: Emirates News Agency

UAE non-oil foreign trade has been on the go for Qs 1,2 & 3, 2011 compared to the same period of the previous year. Federal Customs Authority (FCA) initial statistical data indicates a year-on-year YoY 23% increase in UAE’s non-oil foreign trade from January to the end of September, 2011.

According to FCA statistical data for Qs 1,2 & 3, 2011 indicate a non-oil foreign trade increase from AED 556.1 bln in for the same period in 2010 to AED 676.3 bln in 2011; i.e., an AED 120.2 increase.

Data on import growth reveals a 22% increase, thus moving from AED 357.1 bln in 2010 to AED 436.7 bln in 2011 for same period.

“Exports witnessed a growth rate hitting 36% during the period in question due to a value increase from AED 61.7 bln to AED 84.1 bln. Re-exports, however, experienced a growth rate of 13% to go up from AED 137.3 bln to AED 155.5 bln for the same period”, FCA said.

For FCA, in terms of value, UAE total foreign trade in September alone, 2011, valued YoY AED 76.2 bln compared to AED 63.6 bln with an increase of 20%. September Imports, in turn, hit YoY AED 50.7 bln with an increase of 28%. Exports achieved YoY AED 8.9 bln with an increase of 10%. Yet, re-exports recorded a YoY decrease of 4% to hit AED 16.6 bln.

However, weight-wise UAE total foreign trade in the first three quarters, 2011 has hit 62 m tons, of which 39 m tons in imports, 16.8 m tons in exports and 6.3 m tone in re-exports.

According to the FCA each of India, China, the US, Germany, Japan, United Kingdom, South Korea, Italy, Saudi Arabia, and Switzerland, respectively, topped exporters’ list to the UAE in the first three quarters, 2011 with a total value of AED 266.3 bln, or 61% of the UAE total imports.

“On the level of non-oil exports, India, Switzerland, Saudi Arabia, Canada, Iran, Kuwait, Turkey, Singapore, brazil, and Iraq, respectively, spearheaded importers from the UAE with AED 58.5 bln, accounting for 70% of the UAE exports”.

The FCA added. “Meanwhile, India, Iran, Iraq, Belgium, Hong Kong, Saudi Arabia, Kuwait, Afghanistan, Bahrain, and Qatar, respectively, topped the list in terms of re-exports with AED 114.1 bln, representing 73% of the UAE total re-exports.”The total value of UAE-GCC non-oil foreign trade hit AED 47 bln in the first three quarters, 2011, of which AED 20.1 bln in imports, AED 10.1 bln in exports and AED 16.7 bln in re-exports.

Saudi Arabia maintained its first rank among GCC region’s trading partners with a total value of AED 20.1 bln. Kuwait came second with AED 8.2 bln, followed by Oman (AED 6.4 bln), Bahrain (AED 6.3 bln) and finally Qatar (AED 5.9 bln).

Further, FCA press release read, “UAE total foreign trade with Arab countries in terms of value amounted to AED 84.7 bln in the first three quarters, 2011, with AED 38.9 bln worth of imports, AED 16.2 bln worth of exports and AED 29.7 bln of re-exports. Saudi Arabia topped the list of Arab states in terms of non-oil trade with the UAE, followed by Sudan, Iraq, Morocco, Oman, Bahrain, Egypt, Kuwait, and Qatar. Djibouti and Comoros tailed the list.” The preliminary statistical data of three quarters showed that gold ranked first among imports with a value of AED 73.3 bln, followed by diamond with AED 50 bln, cars with AED 20 bln, ornaments and jewelry with AED 17.2 bln, and telephone sets with AED 7.3 bln.

Gold, according to FCA, also came first among exports in the three quarters, 2011 with AED 45.1 bln, followed by fire-fighting, guiding and other ships with AED 4.3 bln, petroleum oils and other derivatives with AED 2.7 bln, ethylene polymers with AED 1.6 bln, then ornaments and jewelry and related parts with AED 1.5 bln.

On the level of re-exports, diamond came first with a total value of AED 52.3 bln, followed by ornaments and jewelry and related parts (AED 9.6 bln), cars (AED 9.3 bln), telephone sets (AED 6.7 bln).

The total trade volume of UAE free zones and markets in the three quarters amounted to AED 10.7 bln.

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