UAE's trade volume in H1 reaches Dh784 billion

dubai - Non-oil foreign trade accounted for Dh535.5 billion

The UAE's general trade volume from January to the end of June 2017 amounted to Dh784 billion, compared to Dh777.6 billion during the same period of 2016, signalling a one per cent growth, according to data from the Federal Customs Authority (FCA).

Commissioner Ali Al Kaabi, head of the FCA, said in a statement on Sunday that the UAE's non-oil foreign trade growth reflects the importance of the country's position in the world trade exchange map and its leadership as a regional trade centre.

Al Kaabi added: "The non-oil trade activity reflects an improvement in the UAE's trade balance with many world countries and assures the confidence of traders and investors in the UAE economy."

The UAE's direct non-oil foreign trade accounted for 68 per cent of the total volume of general trade, valued at Dh535.5 billion. The share of free zone trade was 32 per cent and valued at Dh248.6 billion.

The FCA data indicated that the share of imports of the UAE's total non-oil general trade amounted to Dh477.8 billion during the first six months of 2017.

The native gold and semi-processed gold accounted for most imported goods during the first six months of 2017, recording Dh68 billion with a share value of 14 per cent of total non-oil imports. Mobile phones came in second place at a value of Dh44 billion at nine per cent; motor vehicles reached Dh26.5 billion or six per cent, followed by non-composite diamonds at a value of Dh24.5 billion and five per cent of the total non-oil imports.

The FCA said the UAE's exports reached Dh89.1 billion during the first six months of 2017, with gold exports coming on top at a value of Dh26.4 billion, representing 29 per cent of the UAE's total non-oil exports. This was followed by ornaments and jewellery at a value of Dh9.5 billion at 10 per cent.

The FCA data indicated that re-exports were valued at Dh217.2 billion during the first six months of 2017. Mobile phones came first as the best re-exported commodity at a value of Dh36.5 billion, representing 16 per cent of the total re-exports, then came non-composite diamond worth Dh26.7 billion representing 12 per cent of total re-exports.

Asia, Australia and the Pacific region maintained the first rank on top of the non-oil trade partners with a share of Dh318 billion, equivalent to 43 per cent of the UAE's total non-oil trade. - Wam