UAE non-oil trade grows to Dh678bn
The foreign non-oil trade of the UAE maintained its positive growth during the period from January to August 2012 compared to the same period in the last year.
The preliminary statistics of the Federal Customs Authority (FCA) showed higher foreign non-oil trade at 12 per cent in January- August 2012. The total foreign trade climbed by Dh70 billion to Dh678 billion compared to 608 billion during the same period in the last year.
The data of the UAE foreign non-oil trade reflected several positive indicators within the first eight months of 2012, the FCA said in a press release. These indicators include the ever-increasing growth rates of exports at 49 per cent, with the total export increasing by Dh37.3 billion to Dh112.8 billion compared to Dh75.5 billion in the same period of the last year.
The imports soared by 11 per cent, driving the UAE non-oil imports up from Dh388.4 billion to Dh431.7 billion in the comparative period with an increase of Dh43.3 billion. The re-exports slid by 7 per cent to Dh133.5 billion for the same period.
In terms of weight, the FCA said, the UAE total foreign trade hit about 85.1 million tons in the first eight months of 2012, including 37.7 million tons in imports, 40.6 million tons in exports and 6.8 million tons in re-exports.
"The UAE foreign trade with the outside world hit about Dh84 billion in August 2012 alone, including Dh51.7 billion in imports, Dh18.1 billion in exports and Dh14.3 billion in re-exports", the FCA added.
The trade regional structure was stable in the same period. Asia, Australia and Pacific maintained its top place among the UAE most notable partners in non-oil foreign trade. The total trade of the UAE with this region reached Dh284.8 billion at 43 per cent of the total trade.
Europe came second with Dh189.3 billion at 28 per cent of the total, then the Middle East and North Africa with Dh95 billion (14 per cent) and America and the Caribbean with 58.7 billion (9 per cent). Western and Central Africa region came in the fifth place with Dh19.5 billion (2.9 per cent) and finally the COMESA with Dh17.6 billion (2.6 per cent).
The UAE non-oil foreign trade with the states of Gulf Cooperation Council (GCC) hit Dh59 billion, including Dh23.7 billion in imports, Dh16.2 in exports and Dh19 billion in re-exports.
Saudi Arabia maintained its top place among the UAE trade partners in the GCC in the comparison period. The UAE-KSA trade hit about Dh19.8 billion with 33.6 per cent of the total trade with the GCC states. Oman came second with Dh14.1 billion (23.8 per cent), then Kuwait with Dh12.1 billion (20.5 per cent), Bahrain with Dh6.6 billion (11.2 per cent) and finally Qatar with Dh6.4 billion (10.8 per cent).
The UAE total foreign trade with the Arab countries hit about Dh97.5 billion in the first eight months of 2012, including Dh44.1 billion in imports, Dh23.1 billion in exports and Dh30.3 billion in re-exports. The initial statistics showed that gold, diamond, jewels and jewelry, cars and phones are the best ten selling goods in the UAE non-oil foreign trade, in form of imports, exports and re-exports.
"Gold tops the imports in the comparison period with Dh87.4 billion, followed by diamond with Dh25.6 billion, then cars with Dh24.8 billion, and jewels and jewelry with Dh24.1 billion, and phones with Dh7 billion", the FCA said.
Gold is also on the top of the exports in the comparison period with Dh64.6 billion, followed by polyethylene and polypropylene with Dh4.7 billion and jewels and pieces of jewellery with Dh3.8 billion and the crude aluminum with Dh3 billion and petroleum and other oils with Dh2.1 billion.
Diamond came at the top of re-exports in the comparison period with Dh26.4 billion, then jewels and pieces of jewelry with Dh20.3 billion, cars with Dh11.1 billion, phones with Dh8.3 billion and parts and accessories of locomotives with Dh3.3 billion and gold with Dh2.5 billion.
According to the FCA, the total trade in markets and free zones hit about Dh11 billion in the eight months, including Dh5.5 billion in imports, Dh904 million in exports and Dh4.7 billion in re-exports.
Follow Emirates 24|7 on Google News.