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UAE’s Non-Oil Foreign Trade Reduces by 16 % Last Year


Middle East : 08 March 2010

Due to the international monetary crisis, UAE’s non-oil international trade decreased by 16 per cent from 788.7 billion Dirham in 2008 to 66.3 billion Dirham in 2009.

Imports decreased by 29% from 565.7 billion Dirham in 2008 to 449.2 billion Dirham in 2009. However, exports increased by 9% to 66 billion Dirham in 2009 whereas re-exports decreased by 9% from 163 billion Dirham in 2008 to 147.8 billion Dirham in 2009.

The Acting Director General of the Federal Customs Authority, Khalid Ali Al Bostani described the decrease as small compared to other countries. It demonstrates the viability of UAE exports in spite of the international financial crisis.

Country’s 64% imports worth 289 billion Dirham reached from 10 countries including Saudi Arabia, France, Italy, South Korea, the UK, Japan, Germany, the US, China and India.

Country’s 74% non-oil exports worth 48.5 billion Dirham dispatched to Iraq, Nigeria, Jabel Ali Free Zone, Pakistan, the Sultanate of Oman, Iran, Saudi Arabia, Qatar, Switzerland and India.

Top 10 re-exporting destinations with 66% of total re-export value were Hong Kong, Afghanistan, Bahrain, Switzerland, Qatar, Jabel Ali Free Zone, Saudi Arabia, Iraq, India and Iran.

Al Bostani informed that there were clear indications of recovery from the financial crisis. Exports and re-exports are increasing by leaps and bounds. In terms of weight, the volume of foreign trade is also increasing at a rapid pace.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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