UAE’s Non-Oil Trade Rises

The UAE’s non-oil foreign trade rose to Dhs759.8 billion during the first ten months of 2011 compared to Dhs622.5 billion during the same period in 2010, according to official statistics released by the Federal Customs Authority (FCA).

Imports during the period grew by 24 per cent, from Dhs399.2 billion in 2010 to Dhs493.8 billion last year, official news agency WAM reported. Meanwhile exports during the period reached Dhs93.9 billion, a year-on-year increase of 34 per cent.

In October alone, the UAE’s total foreign trade reached Dhs83.5 billion, an increase of 26 per cent over the same period in 2010, according to FCA. India, USA, China, Japan, Germany were the main exporters during the month.

Among the UAE’s imports during October 2011, gold ranked the first with a value of Dhs9.7 billion, followed by aircraft with Dhs9 billion, diamonds with Dhs3.5 billion and cars with Dhs2.9 billion, reported WAM.

Gold also ranked first among the country’s exports during the month with Dhs5.4 billion, and was followed by petroleum oils and other derivatives, ethylene polymers and ornaments and jewelry.