Total exports of goods and services from the UAE increased to Dh746.7 billion in 2008, achieving a growth of 7.6 per cent over the previous year, according to a report released by the Ministry of Economy (MoE).
Crude oil constituted 36.2 per cent of exports in 2008, re-export comprised 38.8 per cent, exports from free zones 11.2 per cent, oil by-products 2.5 per cent, gas 4.5 per cent and other exports 6.8 per cent, the report revealed.
At the same time total imports of goods and services into the country increased to Dh562.6bn in 2008, compared with Dh545.3bn the year before, registering a small growth of 3.2 per cent.
The report was released in conjunction with the 24th International Autumn Trade Fair (IATF) this year, which takes place along with the International Fashion Jewellery & Accessories Fair and the International Watch and Clock Fair. The IATF was inaugurated yesterday by Khalid A bin Sulayem, Director-General of the Department of Tourism and Commerce Marketing. Organised by Al Fajer Information and Services from January 17 to 19, the IATF has attracted an official pavilion from Iran apart from more than 25 Iranian companies participating in this year's edition of the show.
According to the Central Statistics Department of MoE, consumption in the UAE amounted to Dh483.9bn in 2008, at a growth percentage of 32.
The report says that the MoE also made it one of its basic roles to drive maximum benefit from economic agreements signed with countries worldwide with the goal of enhancing growth and development.
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