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Non-oil trade surges 14%
ABU DHABI — The UAE’s non-oil trade grew 14 per cent in May 2010 compared with the same period in 2009, as the total trade volume expanded to Dh59.604 billion, according to the data issued by the Federal Customs Authority.
The data showed a growth in the country’s exports of non-oil products to 65 per cent rising to Dh7.197 billion in May 2010, while the re-exports posted a growth of 22 per cent, with a rising value reaching Dh13.763 billion.
However, imports grew by six per cent to Dh38.644 billion in the same period.
In terms of value, the non-oil foreign trade rose to Dh59.604 billion in May 2010, imports made major contribution of Dh38.644 billion to the total size of trade; exports contributed Dh7.197 billion and re-exports added Dh13.763 billion to the tally.
The high growth volume in non-oil exports and re-exports as compared to growth of imports in last May is ‘a positive reflection’ of the economic policy, in the light of the financial crisis, the Authority said.
“The growth indicators in these items reflect the continued improvement in the trade balance during the reporting period, which underscores the increasing competitiveness of UAE exports in world markets,” The Federal Customs Authority said.
Ten major exporting nations to the UAE during the month of May are India, China, the United States of America, Germany, Japan. Other leading exporters to the nations include the United Kingdom, Italy, Saudi Arabia, Turkey and Switzerland.
Switzerland, India, Iran, Saudi Arabia, Pakistan, Iraq, Oman, Qatar, Kuwait and China, respectively, ranked in the top of countries in the field of non-oil exports with a value of Dh5.602 billion for the same period.
The Emirates of Abu Dhabi, Dubai and Sharjah have 97.5 per cent share in the total non-oil trade of the Country.
The share of Abu Dhabi to the total trade volume amounted to Dh9.386 billion, while Dubai contributed lion’s share of Dh37.905 billion and Sharjah Dh3.498 billion.
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