Non-oil UAE H1 2011 Hits AED 445 bln
Non-oil foreign trade of the United Arab Emirates (UAE) grew 22% year-on-year in the first half of 2011, new data showed. The country’s non-oil foreign trade increased by AED 80.7 billion, up from AED 364.3 billion, in the same period in 2010 to reach AED 445 billion in 2011, the latest figures released by the Federal Customs Authority (FCA) showed.
FCA’s data on imports showed a 20% growth from AED 236.5 billion in 2010 to AED 285 billion in 2011 for same period.
According to FCA, "Exports witnessed an double digit growth rate hitting 44% during the period in question due to a value increase from AED 36 billion to AED 54.7 billion. Re-exports, however, experienced a growth rate of 17% to go up from AED 89.8 billion to AED 105.3 billion for the same period." In terms of value, UAE total foreign trade in June 2011 alone totaled AED 74.7 billion, compared to AED 65.1 billion in the previous year, posting an increase of 15%. Also imports in June 2011 alone reached AED 47.5 billion YoY with an increase of 14%. Exports achieved YoY AED 11.3 billion with an increase of 61%. Yet, re-exports recorded a YoY decrease of 4% to hit AED 15.9 billion.
However, weight-wise UAE total foreign trade in the first two quarters, 2011 hit 41.3 million tons, of which 25.8 million tons were imports, 11.1 million tons exports and 4.3 million tons were re-exports.
According to a press release by FCA, India, China, the US, Germany, Japan, United Kingdom, Italy, South Korea, Saudi Arabia, and Switzerland, respectively, topped the exporters’ list in Q1 and Q2, 2011 with a total value of AED 175.5 billion, or 62% of the UAE total imports.
"On the level of non-oil exports, India, Switzerland, Saudi Arabia, Canada, Kuwait, Iran, Singapore, Iraq and Turkey, respectively, spearheaded importers from the UAE with AED 28 billion, accounting for 69% of the UAE exports," the FCA added. "Meanwhile, India, Iran, Iraq, Hong Kong, Belgium, Saudi Arabia, Kuwait, Afghanistan, Qatar and Bahrain, respectively, topped the list in terms of re-exports with AED 78 billion, representing 74% of the UAE total re-exports." The total value of UAE-GCC non-oil trade exchange hit AED 31.8 billion in the first two quarters, 2011, of which AED 13.3 billion in imports, AED 7 billion in exports and AED 11.5 billion in re-exports.
Saudi Arabia maintained its first rank among GCC region’s trading partners during Q 1 and Q 2 with a total value of AED 13.5 billion. Kuwait came second with AED 5.7 billion, followed by Oman (AED 4.3 billion), Bahrain (AED 4.2 billion) and finally Qatar (AED 4.1 billion).
FCA said the UAE’s total foreign trade with Arab countries, in terms of value, amounted to AED 55.8 billion in the first two quarters, 2011, with AED 24.1 billion worth of imports, AED 10.9 billion worth of exports and AED 20.7 billion 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, Bahrain, Morocco, Egypt and Kuwait. Djibouti and Comoros tailed the list." Gold ranked first among the UAE’s imports with a value of AED 45.6 billion, followed by diamond with AED 35.6 billion, cars with AED 12.9 billion, ornaments and jewelry with AED 12.2 billion, and telephone sets with AED 5.2 billion.
Gold, according to FCA, also came first among exports in the two quarters with AED 27.7 billion, followed by fire-fighting, guiding and other ships with AED 4.3 m, petroleum oils and other derivatives with AED 1.8 billion, ethylene polymers with AED 1.4 billion, then ornaments and jewelry and related parts with AED 879 million.
For re-exports, diamond came first with a total value of AED 37.2 billion, followed by cars (AED 6.7 billion), ornaments and jewelry and related parts (AED 6.4 billion), telephone sets (AED 4.2 billion). The total trade volume of UAE free zones and markets in the two quarters amounted to AED 6.6 billion.
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