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Preliminary data shows UAE non-oil trade grew two per cent in H1

Exports stood at AED81.4bn compared with AED63.6 billion year-on-year

The UAE’s non-oil trade grew two per cent year-on-year clocking at AED534.1 billion in first half of 2015, compared with AED521.8bn in the same period a year earlier, state news agency WAM reported quoting the preliminary statistical data of the Federal Customs Authority (FCA).

The figures show that the country’s exports surged by 28 per cent, while imports saw a drop of one per cent during the period.

YoY exports stood at AED81.4bn compared with AED63.6bn for 2014, in contrast to imports that amounted to AED337.6bn, down from AED340.6bn in the past year.

Gold, with a value of AED28.7bn, topped the list of exported goods representing 35 per cent of the UAE’s total non-oil exports, while AED50.7bn worth of gold and processed gold were the most imported goods in the first six months of the current year.

Revenues from re-exports dropped by two per cent recording AED115.2bn compared with AED117.6bn YoY.

Asia, Australia and the Pacific region remained the UAE’s top non-oil trade partner with a share of AED218.3bn, equivalent to 42 per cent of the UAE total non-oil trade, while the European region came second with a share of AED129.2bn representing 25 per cent of the total.

With regard to the UAE non-oil trade with the GCC countries, the FCA stated that the UAE’s share in the first half of 2015 reached ten per cent or AED53bn of the total non-oil trade. Saudi Arabia was the top trading partner in the region.

Commissioner Ali Al Kaabi, head of the FCA, said in a press statement that the UAE’s total direct non-oil trade is considerably stable despite the economic crisis witnessed by many countries around the world and the slow economic growth in a number of advanced and emerging economies, particularly China, which tops the list of UAE trade partners.