UAE non-oil trade about to hit half-billion
- United Arab Emirates: Thursday, October 18 - 2012 at 09:19
- PRESS RELEASE
UAE non-oil foreign trade showed higher growth rate in the first half of this year, as it reached 10.5% compared to the same period in the last year. The FCA initial statistics showed that the total non-oil foreign trade rose by Dhs47.4bn to Dhs499bn in the first half of this year compared to Dhs451.5bn in the same period of last year.
The UAE non-oil exports increased by Dhs22bn to hit Dhs77bn compared to Dhs55bn in the same period of the last year.
"The imports grew within the above period by 12%, raising the UAE non-oil imports by Dhs35.1 from Dhs286.3bn to 321.4bn in the period of comparison, while re-exports hit Dhs100.5bn in the same period", said the FCA.
The FCA initial statistics, FCA said, "Showed an upward trend for exports which maintained positive growth rates ranging between 30% and 40%, during the first half of this year. This reflects the impressive growth seen in the national industry in different sectors, and the positive impacts of the policy of stimulus and encouragement of the national investments followed by the good leadership. Imports experienced parallel and modest growth rates in the last period ranging between 6% and 10% only."
"In terms of weight, the UAE total foreign trade hit about 58.4 million tons in the first half of this year, including 27.9 million tons in imports, 25.1 million tons in exports and 5.4 million tons in re-exports," the FCA said.
The daily average weight of consignments 'exported, imported and re-exported' processed by different customs outlets hit about 243 thousand tons per day '30 thousand tons per hour'.
"In June alone, the UAE foreign trade hit about Dhs86.5bn, including Dhs51.7bn in imports, Dhs16.5bn in exports and Dhs18.2bn in re-exports," the FCA added.
Asia-Pacific region, the FCA said, "Retained its first place among the UAE top non-oil foreign trade partners with a total trade of Dhs216bn with the UAE - 44% of the total trade in the first half of this year."
"Europe came in the second place with Dhs192.4bn '26%' of the total trade followed by Middle East and North Africa with Dhs72.6bn '15%', America and the Caribbean with Dhs44.7bn '9%', Western and Central Africa region with Dhs14bn '2.9%' and COMESA with Dhs13bn '2.7%'," the FCA said.
The total of UAE non-oil foreign trade with the Gulf Council Countries 'GCC' hit Dhs46bn in the first half of this year, including Dhs19.3bn in imports, Dhs11.8bn in exports and Dhs14.8bn in re-exports, the FCA said in the press release.
The Kingdom of Saudi Arabia 'KSA', the FCA said, kept its top place among the UAE trade partners from the GCC in the above period.
The UAE total trade with the KSA reached Dhs15.1bn '33% of total GCC trade'. Oman came in the second place with Dhs10.8bn '23%' followed by Kuwait with Dhs10.1bn '22%', Bahrain with Dhs5.2bn '11%' and finally Qatar with Dhs4.8bn '10%'.
The UAE total foreign trade with Arab countries hit about Dhs47.6bn in the first half of this year, including Dhs34.4bn in imports; Dhs17.2bn in exports and Dhs23bn in re-exports.
"The initial statistics in this period showed that gold came at the top of the imported goods with Dhs60bn, followed by diamond with Dhs20.6bn, jewelry with Dhs19.5bn, cars with Dhs18.5bn, and mobile phones with Dhs5bn," the FCA said.
Gold, the FCA said, "Was the top among exported goods in the period with Dhs41.4bn, followed by polyethylene and propylene polymers in crude forms with Dhs6.2bn, jewels and pieces of jewelry with Dhs2.9bn, raw Aluminum with Dhs2.3bn and petroleum and other oils with Dhs1.6bn."
Diamond came first in re-exports for this period with Dhs20.9bn, followed by jewels and pieces of jewelry with Dhs14.9bn, cars with Dhs8bn, mobile phones with Dhs6.2bn, and gold with Dhs1.9bn.
The total trade of markets and free zones, the FCA said, hit about Dhs8bn for this period, including Dhs3.7 in imports, Dhs665 million in exports, and Dhs3.6bn in re-exports.
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