UAE non-oil trade jumps to Dh 540b

UAE non-oil foreign trade achieved positive growth rates during the first nine months of 2010 and the total volume maintained its growth as compared to last year.

By (WAM)

Published: Sun 26 Dec 2010, 12:35 PM

Last updated: Mon 6 Apr 2015, 10:11 AM

According to Federal Customs Authority (FCA) the State’s total non-oil foreign trade from January to September 2010 increased about 11 per cent Y-o-Y.

The preliminary statistical data of FCA confirmed that the total volume of UAE non-oil foreign trade for the same period jumped Dh 54 billion to Dh 540.5 billion from Dh 486.4 billion in the year-ago period.

FCA announced in a press release that the sturdy growth in the UAE non-oil foreign trade mirrors the sound economic polices pursued by the UAE wise leadership since the onset of the 2008 global financial crisis. The Authority also stated that the most notable readings from the preliminary data about the State’s foreign trade in nine months are the record surge in exports and re-exports compared to imports. This uptick underlines that the State’s recent economic diversification policies were successful in terms of reducing the trade balance deficit compared to peers worldwide.

“Preliminary statistical data for September 2010 reflected a 5 per cent growth in imports during the first nine months of 2010 to record Dh 350.6 billion in September 2010 as compared to Dh 334 billion in September 2009. Exports saw a remarkable leap of 39 per cent to Dh 61.8 billion for the first 9-month period of 2010, compared with Dh 44.4 billion in prior-year period. Similarly, re-exports went up to Dh 128 billion for the same period, appreciating 19 per cent Y-o-Y from Dh 108 billion,” FCA added.

The Total volume of UAE non-oil trade grew 26 per cent Y-o-Y to Dh 62.9 billion in September 2010, from Dh 50 billion. The preliminary data showed a 46 per cent increase in non-oil trade exports for the same period to reach Dh 8.1 billion from Dh 5.5 billion in year-earlier period. Re-exports amounted to Dh 15.6 billion in Sept. 2010, jumping 35 per cent Y-o-Y from Dh 11.6 billion. Imports rose 19 per cent from Dh 32.9 billion in September 2009 to Dh 39.2 billion in September 2010.

In terms of weight, the UAE foreign trade volume in September 2010 reached about 5.8 million tons, including 3.7 million tons of imports, 1.5 million tons of exports and 627 thousand tons of re-exports. Thus, the daily average weight of imported, exported and re-exported shipments and consignments dealt with by the different customs ports for the same month amounted to about 24.1 thousand ton per day on the basis of official working hours (8 hours for 5 days a week), at an average of 3 thousand tons per hour.

According to an FCA each of India, China, the US, Japan, Germany, the UK, France, Italy, South Korea, and Switzerland respectively were the top ten exporters to the UAE in September 2010 with a total value of Dh 24.9 billion, or 63 per cent of the UAE imports. On the level of non-oil exports, India, Switzerland, Brazil, Saudi Arabia, Pakistan, Iraq, Qatar, Iran, Oman, and Kuwait respectively came on top in terms of non-oil imports form UAE with a total of Dh 6.6 billion, accounting for 81 per cent of the UAE exports.

Meanwhile, India, Iran, Iraq, Afghanistan, Bahrain, Hong Kong, Qatar, Kuwait, Belgium, and Saudi Arabia successively topped the list in terms of re-exports with Dh .9 billion, constituting 76 per cent of the UAE re-exports.

The total value of UAE-GCC non-oil trade hit Dh 4 billion in September 2010 - with Dh 1.5 billion imports, Dh 732 million exports and Dh 1.7 billion re-exports. Saudi Arabia maintained its first rank among GCC region’s trading partners with a total value of Dh 1.4 billion. Qatar came second with Dh 687 million, followed by Kuwait (Dh 661 million), Bahrain (Dh 648 million) and Oman (Dh 602 million).

FCA also pointed out: “The total foreign trade volume of the UAE with the Arab countries in terms of value amounted to Dh 7.7 billion in September 2010, with Dh 3.1 billion worth of imports, Dh 1.2 billion worth of exports and Dh 3.4 billion worth re-exports. Iraq topped the list of Arab states in terms of non-oil trade with the UAE, followed by Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, Libya, Sudan, Egypt, Lebanon, Morocco, Jordan, Somalia, Algeria, Yemen, Syria, Djibouti, Tunisia, Mauritania , The Comoros and respectively”.

The preliminary statistical data of September 2010 showed that gold took the first position among imports, with a value of Dh 4.9 billion. It was followed by diamond with Dh 4.7 billion, then cars (Dh 2.1 billion), ornaments and jewellery (Dh1.6 billion), telephone sets (Dh 979 million), aerial vehicles (Dh 713 million), in addition to spare parts and accessories of tractors, special purpose vehicles, passenger vehicles and goods vehicles (Dh 536 million).

Gold also took the first spot in the exports list with Dh 3.3 billion. Light-vessels, fire floats, and dredgers ranked second with Dh 1.4 billion. It was followed by waste and scrap of precious metals or ordinary metals with Dh 522 million, then sugar cane or sugar beet (beet) with Dh 252 million and petroleum oils and processed mineral oils (Dh 125 million). On the level of re-exports, diamond came first with a total value Dh 5.7 billion, followed by motor vehicles basically with Dh 897 million, telephone sets (Dh 810 million), as well as ornaments and jewellery and parts thereof (Dh 783 million).

The total trade volume of UAE free zones and markets amounted to Dh 526 million, of which Jebel Ali Free Zone (Jafza) dominated the lion’s share of Dh 455 million, FCA concluded.

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