Non-oil trade hits Dh676bn in Q1-3 - Emirates24|7

Non-oil trade hits Dh676bn in Q1-3

UAE non-oil foreign trade has been on the go for quarters 1, 2 aqnd 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 per cent increase in UAE's non-oil foreign trade from January to the end of September, 2011.

According to FCA statistical data, non-oil foreign trade increased from Dh556.1bn in for the same period in 2010 to Dh676.3bn in 2011 - a Dh120.2bn increase.

Data on import growth reveals a 22 per cent  increase, thus moving from Dh357.1bn in 2010 to Dh436.7bn in 2011 for same period.

"Exports witnessed a growth rate hitting 36 per cent during the period in question due to a value increase from Dh61.7bn to Dh84.1bn. Re-exports, however, experienced a growth rate of 13 per cent to go up from Dh137.3bn to Dh155.5bn for the same period," FCA said.

UAE total foreign trade in September alone was valued YoY Dh76.2bn compared to Dh63.6bn with an increase of 20 per cent. September Imports, in turn, hit YoY Dh50.7bn with an increase of 28 per cent. Exports achieved YoY Dh8.9bn with an increase of 10 per cent. Yet, re-exports recorded a YoY decrease of 4 per cent to hit Dh16.6bn.

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

According to the FCA, India, China, the US, Germany, Japan, United Kingdom, South Korea, Italy, Saudi Arabia, and Switzerland, respectively, topped exporters' list to the UAE with a total value of Dh266.3bn, 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 Dh114.1bn, representing 73 per cent of the UAE total re-exports."

The total value of UAE-GCC non-oil foreign trade hit Dh47bn in the first three quarters 2011, of which Dh20.1bn were imports, Dh10.1bn were exports and Dh16.7bn were re-exports.

Saudi Arabia maintained its first rank among GCC region's trading partners. Kuwait came second, followed by Oman, Bahrain  and finally Qatar.

The preliminary statistical data of three quarters showed that gold ranked first among imports with a value of Dh73.3bn, followed by diamond with Dh 50bn, cars with Dh20bn, ornaments and jewelry with Dh17.2bn, and telephone sets with Dh7.3bn.

The total trade volume of UAE free zones and markets in the three quarters amounted to Dh10.7bn.

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