UAE non-oil trade up 8% in first seven months

The UAE’s non-oil trade grew by Dh30.4 billion, or eight per cent, in the first seven months of this year primarily on the back of a 31 per cent growth in exports and a 16 per cent growth in re-exports, confirming the success of the country’s economic diversification policies.

Data released by the Federal Customs Authority (FCA) shows that the total volume of non-oil foreign trade increased from Dh381.55b in the first seven months of 2009 to Dh411.95bn in the same period in 2010.

Exports witnessed a considerable 31 per cent growth, surging from Dh34.11bn in the first seven months of 2009 to Dh44.56b in the same period in 2010.

Re-exports too witnessed a healthy 16 per cent growth, rising from Dh83.52b to Dh96.82bn. Imports, on the other hand, went up by a mere two per cent, from Dh264.92bn by the end of July 2009 to Dh270.57b at the end of July 2010, FCA data shows. This, the FCA noted in a press statement, confirms the “success of economic diversification policies pursued by the State in recent years in reducing the trade balance deficit of the State with the outside world.”

India remains the leading trade partner of the UAE, topping the list of countries importing, exporting and re-exporting non-oil goods to and from the UAE.

India, US, Germany, Japan, the UK, Italy, Malaysia, Saudi Arabia and France, respectively, topped the list of exporting countries to the UAE in July 2010, with a total collective export value of Dh25.15b; 64 per cent of the total value of the UAE imports.

India Switzerland, Saudi Arabia, Egypt, Pakistan, Oman, Qatar, Italy, Iran and Kuwait, respectively, topped the list of non-oil importers from the UAE, with a total collective import value of Dh4.60b; 70 per cent of the total value of UAE exports.

Regarding re-export, each of India, Iran, Iraq, Afghanistan, Saudi Arabia, Hong Kong, Bahrain, Qatar, Belgium and Kuwait, respectively top the list, at a value of Dh10.64bn, representing 77 per cent of the total UAE export value.

UAE’s foreign trade with the GCC countries reached Dh4.08bn in July 2010 – with Dh1.73bn as the value of imports, Dh952bn as the value of exports and Dh1.40b as the value of re-export – indicating that Saudi Arabia maintained its position at the top of the order of trading partners of the GCC countries with the UAE in last July, with a total value of trade between Saudi Arabia and the UAE reaching Dh1.82bn during that period.

Bahrain came second in the list with a share of Dh630m, followed by Qatar (Dh596m), Oman (Dh564m), and Kuwait (Dh475m).

UAE’s foreign trade with Arab countries amounted to Dh7.85b in July 2010; of which Dh3.13bn was the value of imports, Dh1.69b the value of exports and Dh3.03b the value of re-exports.

Again, Saudi Arabia was on top of the list of Arab states in terms of non-oil trading with the UAE in last July, followed by Sudan, Iraq, Oman, Bahrain, Libya, Qatar, Kuwait, Egypt, Lebanon, Yemen, Jordan, Syria, Morocco, Algeria, Tunisia, Somalia, Palestine, Comoros, Mauritania and Djibouti, respectively.

Gold topped the list of imported goods with a value of Dh5.44bn, followed by diamonds (Dh4.2bn), cars (Dh2.22bn), ornaments (Dh1.87bn), telephone sets, including mobiles (Dh809 million), aerial vehicles (Dh709m), motor spare parts (Dh600m), and rice (Dh384m). Gold also topped the list of exported goods in July 2010, with a value of Dh3.12b,

followed by plastic goods (Dh527m), metal waste and scrap (Dh227m), and sugar cane or sugar beet (Dh191m).

On the other hand, diamond topped the list of re-exported goods during June 2010, with a value of Dh5.3bn, followed by motor vehicles (Dh840m), cellular phones and other wireless networks phone (Dh454m), ornaments and jewellery (Dh310m).

The total value of markets and free zones trade in the UAE in last June amounted to Dh526m, of which Jebel Ali Free Zone won the lion's share, with a value of Dh395m.

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