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28 March 2024

Trade in Free Zones and markets hits Dh202bn in H1

Published
By Wam

The trade volume in the country's free zones during the first half of the current year reached approximately Dh201.7 billion, compared to same period last year when it recorded Dh169.2bn, showing an increase of Dh32.5bn with 19 per cent growth.

The Federal Customs Authority (FCA) announced yesterday that the free zone trade of the first half of this year represents 31 per cent of the total volume of the trade, referring to the fact that the total UAE trade volume (non-oil external trade and free zone trade) in the first quarter of the year reached Dh646.7bn, of which imports hit Dh398.3bn; Dh60.6bn for exports and re-exports contributed Dh187.8bn.

FCA stated that the imports volume of the free zones 18% Y-o-Y in 2010, from Dh96.4bn in 2010 to Dh113.4bn. Exports and re-exports reached Dh88.3bn, rising 21 per cent from Dh72.9bn in 2010.

In the first half of this year, the total trade volume of free zones and markets in terms of weight reached about 9.4 million tonnes, including 6.1 million tonnes of imports, 571 thousand tonnes of exports and 2.8 million tonnes of re-exports. Thus, the daily average weight of imported and exported shipments and consignments dealt with by the different free zones and markets amounted to about 39 thousand tons per day on the basis of official working hours (eight hours for five days a week), with an average of 5,000 tonnes per hour, the Authority pointed out.

China, India, the USA, Japan, South Korea, Hungary, the UK, Malaysia, Germany and Switzerland, respectively, were the leading exporters to the free zones in the first quarter with a value of Dh76.4bn, or 67 per cent of the total value of the UAE imports.

Regarding exports, Iran, India, Iraq, Egypt, USA, Germany, Saudi Arabia, UK, Turkey and Afghanistan consecutively were on top with a gross value of Dh3.1 billion, representing 52 per cent of the total UAE exports.

Meanwhile, Saudi Arabia, India, Iraq, Iran, Kuwait, Belgium, Hong Kong, Qatar, Lebanon and Egypt consecutively were on top in re-exports with a gross value of Dh55.4bn, representing 67 per cent of the total UAE re-exports.

The re-exports of the UAE free zones to the GCC countries rose compared to its imports, which means that GCC region is a key re-export destination for UAE free zones.

The trade volume with this region in terms of value, in the first half of the year, reached almost Dh23bn, of which imports, represented Dh3.1bn, compared to Dh19.4bn in re-exports and Dh493 million in exports.

According to the Authority Saudi Arabia was the leading trading partner among GCC countries with a trade volume of Dh14.2bn in the half of 2011. It was followed by Kuwait (Dh4bn), Qatar (Dh2.2bn), Oman (Dh1.2bn), and Bahrain (Dh1.1bn).

The total free zones trade volume of the UAE with the Arab countries in terms of value in the first half witnessed an increase in the re-exports from these countries. The total foreign trade volume of the UAE with Arab countries reached Dh42bn, including Dh3.8bn of imports, Dh1.7bn and Dh36.4bn of re-exports.

FCA has revealed that phones topped the list of imports in the UAE free zones and markets in the first half, with a gross value of AED 16 billion.

They were followed by diamond (Dh10bn), data processing devices, magnetic and optical readers (Dh8.2bn) and gold (Dh6.7bn).

The Authority has further added that phones were the main re-exports in the UAE free zones and markets in the first half of 2011, with a gross value of Dh14.2bn, followed by diamond (Dh10bn), data processing devices, magnetic and optical readers (Dh7.8bn), petroleum oils and processed mineral oils (Dh5.7bn) and gold (Dh3.6bn).

The authority pointed out that Cigar and cigarettes were the main exports with a gross value of Dh1.3bn, followed by petroleum oils and processed mineral oils (Dh539 million) and plates (Dh327m).