UAE foreign trade rises more than 35pc in 2007

ABU DHABI - UAE foreign trade has shown a strong growth in year 2007, when imports grew 36.59 per cent, exports climbed up 28.09 per cent and re-export figures reflected an increase of 32.92 per cent, when compared with the figures of year 2006, said figures released by Federal Customs Authority (FCA).



By (By Haseeb Haider)

Published: Thu 24 Jul 2008, 8:20 PM

Last updated: Sun 5 Apr 2015, 12:56 PM

Likewise, according to FCA, trade grew in terms of weightage also, as imports of goods grew by 17.90 per cent, export by 63.52 per cent and though re-export trade by declined slightly by 1.4 per cent.

The size of foreign trade during the year 2007 continued improvement expanding to Dh563.1 billion up against Dh417.0 billion, in the previous year, showing a handsome growth of 35 per cent, reflecting the pivotal position of the nation as centre of trade, which is ideally located geographically.

The country imported goods worth Dh398.05 billion up against Dh291.4 billion in the previous year, posting a growth of 36.59 per cent.

Exports figures also improved by 29 per cent to Dh36.275 billion in the year 2007, over Dh28.09 billion in the previous year. There export trade also showed a growth as it grew to Dh128.5 billion up against Dh96.745 billion, in the corresponding period of 2007, showing an increase of 32.92 per cent.

According to 2007 trade figures, UAE which heavily relies on imported food, consumer goods apart from raw materials for its booming construction industry, imported goods worth Dh36.344 from China, followed by India with Dh45.597 billion.

Japan, United States, Germany, Italy, United Kingdom, Saudi Arabia, France and Switzerland were other countries in the list of top ten countries from where the UAE imported goods. The country exported goods worth Dh12.045 billion to India, its traditional trading partner.

Qatar was the second largest importer with exports valuing Dh2.525 billion. Other nations, who featured in the top ten export destinations list included Kuwait, Saudi Arabia, Iran, Pakistan, China, Jabel Ali Free Zone, Iraq, Switzerland.

Iran was the number one re-export destination of the UAE, with total trade size exceeding Dh22.918 billion, followed by India with a trade volume of Dh22.626 billion.

Iraq, Switzerland, Saudi Arabia, Qatar, Oman, Jabel Ali Free Zone , Belgium, and Kuwait were the other top destinations for the UAE re-exports.


More news from Business