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UAE Non-Oil Trade Hits AED 70.9 Bln

The UAE non-oil foreign trade achieved a breakthrough growth of 28% Y-o-Y in February 2011. The preliminary statistical data of FCA confirmed that the UAE non-oil foreign trade jumped AED 15.3 billion to AED 70.9 billion from AED 55.6 billion in the year-ago period. In a press release issued today, the FCA announced that the preliminary statistical data for Feb. 2011 reflected a 24% rise in imports to AED 45.5 billion as compared to AED 36.8 billion in February 2010. The exports recorded a significant growth of 54% during the year-ago period to AED 7.3 billion from AED 4.7 billion in Feb. 2010. Similarly, re-exports recorded a Y-o-Y growth rate of 29% to AED 18.1 billion from AED 14.1 billion. The total volume of UAE non-oil trade in terms of weight in Feb. 2011 reached about 6.5 million tons, including 4.2 million tons of imports, 1.6 million tons of exports and 683 thousand tons of re-exports. Thus, the 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 323 thousand tons per day on the basis of official working hours (8 hours for 5 days a week), at an average of 40 thousand tons per hour. According to the FCA press release, each of India, China, the US, Japan, the UK, Germany, Italy, South Korea, Turkey and Malaysia were the top ten exporters to the UAE in Feb. 2011 with a total value of AED 29.2 billion, or 64% of the UAE imports. On the level of non-oil exports, India, Saudi Arabia, Switzerland, Thailand, Kuwait, Hong Kong, Iran, Qatar, turkey and Iraq spearheaded importers from the UAE with AED 5.4 billion, accounting for 73% of the UAE exports. Meanwhile, India, Iran, Iraq, Qatar, Belgium, Hong Kong, Kuwait, Bahrain, Saudi Arabia and Thailand topped the list in terms of re-exports with AED 14.4 billion, representing 80 % of the UAE re-exports. The total value of UAE-GCC non-oil foreign trade hit AED 5 billion in Feb 2011, with AED 2.1 billion imports, AED 1.1 billion exports and AED 1.8 billion re-exports. Saudi Arabia maintained its first rank among GCC region’s trading partners with a total value of AED 1.9 billion. Kuwait came second with AED 940 million, followed by Qatar (AED 9.4 million), Bahrain (AED 652 million) and Oman (AED 559 million). The FCA also pointed out: "The total foreign trade volume of the UAE with the Arab countries in terms of value amounted to AED 8.5 billion in Feb. 2011, with AED 3.6 billion worth of imports, AED 1.6 billion worth of exports and AED 3.3 billion worth of re-exports. Saudi Arabia topped the list of Arab states in terms of non-oil trade with the UAE, followed by Sudan, Oman, Iraq, Libya and Egypt, while Palestine tailed the list." The preliminary statistical data of Feb. 2011 showed that diamond took the first position among imports, with a value of AED 7.5 billion. It was followed by gold with AED 6.9 billion, then cars (AED 2 billion), ornaments and jewelry (AED 1.9 billion), telephone sets (AED 821 million), in addition to spare parts and accessories of tractors, vehicles for special uses, passenger vehicles and goods vehicles (AED 519 million). Gold also took the first spot in the exports list with AED 4.2 billion. It was followed by Petroleum oils with AED 201 million, ethylene polymers with AED 156 million, then ornaments and jewelry and related parts with AED 111.6 million. On the level of re-exports, diamond came first with a total value AED 8.4 billion, followed by cars (AED 1.1 billion), ornaments and jewelry and related parts with AED 699 million, telephone sets (AED 447 million. The total trade volume of UAE free zones and markets in Feb. 2011 amounted to AED 712 million, the FCA concluded.

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