UAE non-oil trade collects Dhs678bn; grows at 12% in 8 months

The preliminary statistics of the Federal Customs Authority (FCA) showed higher foreign non-oil trade at 12% in January- August 2012. The total foreign trade climbed by Dhs70bn to Dhs678bn compared to Dhs608bn 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 yesterday. These indicators include the ever-increasing growth rates of exports at 49%, with the total export increasing by Dhs37.3bn to Dhs112.8bn compared to Dhs75.5bn in the same period of the last year.

The imports soared by 11%, driving the UAE non-oil imports up from Dhs388.4bn to Dhs431.7bn in the comparative period with an increase of Dhs43.3bn. The re-exports slid by 7% to Dhs133.5bn for the same period.

In terms of weight, the FCA said, the UAE total foreign trade hit about 85.1m tons in the first eight months of 2012, including 37.7m tons in imports, 40.6m tons in exports and 6.8m tons in re-exports.

"The UAE foreign trade with the outside world hit about Dhs84bn in August 2012 alone, including Dhs51.7bn in imports, Dhs18.1bn in exports and Dhs14.3bn in re-exports", the FCA added.

The trade regional structure was stable in the same period, the FCA said. 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 Dhs284.8bn at 43% of the total trade.

Europe came second with Dhs189.3bn at 28% of the total, then the Middle East and North Africa with Dhs95bn (14%) and America and the Caribbean with 58.7bn (9%). Western and Central Africa region came in the fifth place with Dhs19.5bn (2.9%) and finally the COMESA with Dhs17.6bn (2.6%).

The UAE non-oil foreign trade with the states of Gulf Cooperation Council (GCC) hit Dhs59bn, including Dhs23.7bn in imports, Dhs16.2 in exports and Dhs19bn in re-exports, the FCA said in the press release.

The Kingdom of Saudi Arabia (KSA) maintained its top place among the UAE trade partners in the GCC in the comparison period, the FCA said. The UAE-KSA trade hit about Dhs19.8bn with 33.6% of the total trade with the GCC states. Oman came second with Dhs14.1bn (23.8%), then Kuwait with Dhs12.1bn (20.5%), Bahrain with Dhs6.6bn (11.2%) and finally Qatar with Dhs6.4bn (10.8%).

The UAE total foreign trade with the Arab countries hit about Dhs97.5bn in the first eight months of 2012, including Dhs44.1bn in imports, Dhs23.1bn in exports and Dhs30.3bn 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 Dhs87.4bn, followed by diamond with Dhs25.6bn, then cars with Dhs24.8bn, and jewels and jewelry with Dhs24.1bn, and phones with Dhs7bn", the FCA said.

"Gold is also on the top of the exports in the comparison period with Dhs64.6bn, followed by polyethylene and polypropylene with Dhs4.7bn and jewels and pieces of jewelry with Dhs3.8bn and the crude aluminum with Dhs3bn and petroleum and other oils with Dhs2.1bn" the FCA added.

Diamond, the FCA said, came at the top of re-exports in the comparison period with Dhs26.4bn, then jewels and pieces of jewelry with Dhs20.3bn, cars with Dhs11.1bn, phones with Dhs8.3bn and parts and accessories of locomotives with Dhs3.3bn and gold with Dhs2.5bn.

According to the FCA, the total trade in markets and free zones hit about Dhs11bn in the eight months, including Dhs5.5bn in imports, Dhs904m in exports and Dhs4.7bn in re-exports.