UAE Non-Oil Trade Rises To AED 59.6 Billion In May 2010
The primary statistical data of the Federal Customs Authority confirmed the growth of non-oil trade volume of the UAE with a rate of 14% by the end of May 2010 compared with the same period in 2009, as the total trade volume rises from 52.075 billion Dirhams in last May to 59.604 billion Dirhams in May this year.
The Federal Customs Authority stated in a press release today that the primary statistical data showed a growth in the country’s exports of non-oil products to the outside world by 65% during that period from 4.353 billion Dirhams in May 2009 to 7.197 billion Dirhams in May 2010, while the re-exports item witnessed a growth rate of 22%, with a rising value from 11.26 billion to AED 13.763 billion Dirhams, and the item of imports grow by 6%, with a rising value from 36.463 billion to AED 38.644 billion Dirhams for the same period.
The Authority highlighted that the UAE non-oil foreign trade volume in terms of value mounted to 59.604 billion Dirhams in May 2010, of which 38.644 billion Dirhams value of imports, 7.197 billion and the value of exports, 13.763 billion the value of re-exports. While the UAE foreign trade volume in terms of weight during May 2010 amounted to 6.176 million tons, of which 3.893 million tons, the weight of imports, and 1.496 million, the weight of exports and 787 million tons, the weight of re-exports, which means that the average of daily weights of customs packages that has been handled by the various customs outlets in terms of export, import and re-export amounted to about 26 thousand tons per day on the basis of official working hours (8 hours for five days a week), with an average of 3 tons per hour.
The Authority alluded that the high growth volume in non-oil exports and re-exports as compared to growth of imports in last May, according to primary data is a positive reflection of the economic policy pursued under the prudent leadership of the country in the light of the financial crisis, which dominates the world since 2008, as well as the growth indicators in these items reflects the continued improvement in the trade balance of the UAE with the outside world during the reporting period, which underscores the increasing competitiveness of UAE exports in world markets despite the financial crisis that has hit the global economies over that period.
With regard to the geographical distribution of the UAE foreign trade map during the period of comparison, the authority stated in its statements that all of India, China, the United States of America, Germany, Japan, the United Kingdom, Italy, Saudi Arabia, Turkey and Switzerland, respectively, have occupied the top ranking of the countries that the UAE dealt with under the item of imports in May 2010 with a value of 23.692 billion Dirhams and a rate of 61% of the total value of the UAE imports, while 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 5.602 billion Dirhams for the same period with a rate of 78% of the total value of exports. On the other hand, India, Iran, Iraq, United Kingdom, Afghanistan, Saudi Arabia, Bahrain, Belgium, Qatar and Kuwait, respectively, ranked in the top place in terms of re-exports with a value of AED 9.934 billion a rate of 72% of the total value of re-exports.
The Federal Customs Authority highlighted that the Emirate of Abu Dhabi, Dubai and Sharjah have occupied 97.5% of the total non-oil trade volume of the Country in May 2010, and pointed out that the share of Abu Dhabi of the total trade volume amounted to 9.386 billion Dirhams, while the share of Dubai has amounted to 37.905 billion Dirhams and Sharjah 3.498 billion Dirhams, while the share of Ajman 435 million Dirhams Ajman, Ras Al Khaimah 83 million Dirhams, and Fujairah 723 million Dirhams, Umm Al Quwain 44.7 million Dirhams.
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