The country’s nonoil foreign trade increased by AED80.7 billion, up from AED364.3 billion, in the same period in 2010 to reach AED445 billion in 2011, the latest figures released by the Federal Customs Authority (FCA) show.
FCA’s data on imports showed a 20 percent growth from AED236.5 billion in 2010 to AED285 billion in 2011 for same period.
According to an FCA statement, exports witnessed a double-digit growth rate hitting 44 percent during the period in question due to a value increase from AED36 billion to AED54.7 billion.
Re-exports, however, experienced a growth rate of 17 percent to go up from AED89.8 billion to AED105.3 billion for the same period. In terms of value, UAE total foreign trade in June 2011 alone totaled AED74.7 billion compared to AED65.1 billion in the previous year, posting an increase of 15 percent.
Also, imports in June 2011 alone reached AED47.5 billion YoY with an increase of 14 percent.
Exports achieved YoY AED 11.3 billion with an increase of 61 percent. Yet, re-exports recorded a YoY decrease of 4 percent to hit AED15.9 billion.
The statement said that India, China, the US, Germany, Japan, the UK, Italy, South Korea, Saudi Arabia, and Switzerland, respectively, topped the exporters’ list in Q1 and Q2 2011 with a total value of AED175.5 billion, or 62 percent of the UAE total imports.
“On the level of nonoil exports, India, Switzerland, Saudi Arabia, Canada, Kuwait, Iran, Singapore, Iraq and Turkey, respectively, spearheaded importers from the UAE with AED28 billion, accounting for 69 percent of the UAE exports,” the FCA added.
“Meanwhile, India, Iran, Iraq, Hong Kong, Belgium, Saudi Arabia, Kuwait, Afghanistan, Qatar and Bahrain, respectively, topped the list in
terms of re-exports with AED78 billion, representing 74 percent of the UAE total re-exports.”
The total value of UAE-GCC non-oil trade exchange hit AED31.8 billion in the first two quarters, 2011, of which AED13.3 billion in imports, AED7 billion in exports and AED11.5 billion in re-exports.
Saudi Arabia maintained its first rank among GCC region’s trading partners during Q1 and Q2 with a total value of AED13.5 billion.
Kuwait came second with AED5.7 billion, followed by Oman (AED4.3 billion), Bahrain (AED4.2 billion) and finally Qatar (AED4.1 billion).
FCA said the UAE’s total foreign trade with Arab countries, in terms of value, amounted to AED55.8 billion in the first two quarters of 2011, with AED24.1 billion worth of imports, AED10.9 billion worth of exports and AED20.7 billion of re-exports.
Saudi Arabia topped the list of Arab states in terms of nonoil trade with the UAE, followed by Sudan, Oman, Iraq, Bahrain, Morocco, Egypt and Kuwait. Djibouti and Comoros tailed the list.”
Gold ranked first among the UAE’s imports with a value of AED45.6 billion, followed by diamond with AED35.6 billion, cars with AED12.9 billion, ornaments and jewelry with AED12.2 billion, and telephone sets with AED5.2 billion.
Gold, according to FCA, also came first among exports in the two quarters with AED27.7 billion.
For re-exports, diamond came first with a total value of AED37.2 billion, followed by cars (AED6.7 billion), ornaments and jewelry and related parts (AED6.4 billion), telephone sets (AED4.2 billion).
The total trade volume of UAE free zones and markets in the two quarters amounted to AED6.6 billion.
