UAE’s Non-Oil Trade Up 23%

The UAE’s non-oil foreign trade increased to Dhs927.7 billion in 2011, up 23 per cent from Dhs754.3 billion in 2010, according to statistics released by the Federal Customs Authority (FCA), reported official news agency WAM.

While the total value of imports reached Dhs369.6 billion in 2011, exports from the UAE totalled Dhs78.3 billion, said the report.

In terms of imports, India came first with a volume of Dhs105 billion, followed by China, the US, Germany and Japan.

India also topped the list of the main exports receivers from the UAE, followed by Switzerland and Saudi Arabia.

The value of non-oil trade between the UAE and GCC amounted to Dhs63.2 billion in 2011, with Dhs7.8 billion worth of imports, Dhs13.2 billion worth of exports and Dhs22.1 billion of re-exports.

The report found that precious metals topped the list of imports, with gold ranking first with a value of Dhs99.9 billion, followed by diamonds with Dhs59.3 billion, cars with Dhs28 billion and ornaments and jewelry with Dhs23.3 billion.

Gold also came first among exports in 2011 with Dhs62 billion, followed by fire-fighting, guiding equipment and ships, petroleum oils and other derivatives and un-fabricated aluminum.

The total trade volume of UAE free zones and markets equalled Dhs15.8 billion last year, the report added.

The UAE’s overall non-oil trade growth reflects a monthly rate of between 20 and 25 per cent, which is neither “an accidental nor contingent result but the fruit of the successful policies followed by the government,” FCA said in the report.