UAE non-oil trade grows to Dh412.5bn

UAE non-oil foreign trade maintained positive growth rates in the first five months of this year. The FCA initial statistics showed that the growth rate in the UAE non-oil foreign trade reached 10 per cent in this period compared to the same period in the last year.

The total non-oil foreign trade rose by Dh35.9 billion to Dh412.5 billion compared to Dh376.6 billion in the period of comparison.

The imports increased by 13 per cent from early January to late May this year, raising the UAE non-oil exports by Dh31.3 billion from Dh238.4 billion in 2011 to Dh269.7 billion in the same period of this year, the FCA said in a press release yesterday.

The Authority highlighted that the exports grew within the above period by 38 per cent from Dh43.8 billion to Dh60.5 billion, while re-exports hit Dh82.4 billion in this period.

In terms of weight, the UAE total foreign trade hit about 44.8 million tons in 2012 January- May, including 23.1 million tons in imports, 17.7 million tons in exports and 3.9 million tons in re-exports.

The daily average weight of consignments (exported, imported and re-exported) processed by different customs outlets hit about 187 thousand tons per day (23 thousand tons per hour).

In May alone, the UAE foreign trade hit about Dh92.2 billion, including Dh60.7 billion in imports, Dh13.7 billion in exports and Dh17.8 billion in re-exports.

Asia-Pacific region retained its first place among the UAE top non-oil foreign trade partners with a total trade of Dh181 billion with the UAE - 45 per cent of the total trade in the first five months.

Europe came in the second place with Dh104 billion (26 per cent) of the total trade followed by Middle East and North Africa with Dh60.6 billion (15 per cent), America and the Caribbean with Dh37.2 billion (9 per cent), Western and Central Africa region with Dh11.9 billion (2.9 per cent) and COMESA with Dh10.8 billion (2.7 per cent).

The total of UAE non-oil foreign trade with the Gulf Council Countries (GCC) hit Dh38.6 billion in the first five months of this year. This total consisted of Dh16.9 billion in imports, Dh9.4 billion in exports and Dh12.3 billion in re-exports.

The Kingdom of Saudi Arabia (KSA), kept its top place among the UAE trade partners from the GCC in the first five months of this year. The UAE total trade with the KSA reached Dh12.5 billion (32 per cent). Kuwait came in the second place with Dh9.1 billion (23 per cent) followed by, Oman with Dh8.6 billion (22 per cent), Bahrain with Dh4.4 billion (12 per cent) and finally Qatar with Dh4 billion (10 per cent).

"The UAE total foreign trade with Arab countries hit about Dh62.1 billion in 2012 January- May. This total is divided into Dh29.6 billion in imports; Dh13.4 billion in exports and Dh19.1 billion in re-exports", the Authority added.

The initial statistics in this period showed that gold came at the top of the imported goods with Dh47.3 billion, followed by diamond with Dh18.4 billion, jewelry with Dh17.2 billion and cars with Dh15.7 billion.

Gold was the top among exported goods with Dh31.5 billion, followed by polyethylene and propylene polymers in crude forms with Dh5.4 billion, jewels and pieces of jewelry with Dh2.3 billion and petroleum and other oils with Dh1.3 billion.

Diamond, came first in re-exports in 2012 January- May with Dh18.5 billion, followed by jewels and pieces of jewelry with Dh9.4 billion, cars with Dh6.7 billion and mobile phones with Dh5.2 billion. The total trade of markets and free zones, the FCA said, hit Dh6.5 billion for this period.

Follow Emirates 24|7 on Google News.