ID :
132495
Mon, 07/12/2010 - 14:33
Auther :

MoFT releases an analytical study of the Geographic Distribution of Commerce in the UAE 2005 - 2009

Abu Dhabi, July 12, 2010 (WAM)- The UAE is considered one of the world's most commercially open countries where the percentage of non-oil foreign trade in relation to GDP reached 73% in 2009, indicating the degree by which the UAE's economy is interlinked with the world's economies through its numerous commercial ties, and affirming the important role the UAE can play in the commercial and economic world order, a Ministry of Foreign Trade study says.
The Ministry of Foreign Trade has issued an analytical study of the UAE's Foreign Trade Structure in terms of geographic concentration between 2005 - 2009, in addition to the first quarter of the current year.
The study includes foreign trade data and tracks its development with regards to total foreign trade, non-oil exports, re-exports and imports per groups of states.
The study, which was conducted by the Ministry's "Trade Analysis and Information Department", comes within the framework of the Ministry's keenness on increasing knowledge and awareness, broadening the base of available commercial information, benefiting from successful international experiences in developing the trade sector, increasing UAE exports and opening more markets for national products.
The study, which is available in its entirety on the Ministry's website, underlines the UAE's advanced standing and strategic position in the global arena.
The study reveals that the UAE is considered one of the world's most commercially open countries where the percentage of non-oil foreign trade in relation to GDP reached 73% in 2009, indicating the degree by which the UAE's economy is interlinked with the world's economies through its numerous commercial ties, and affirming the important role the UAE can play in the commercial and economic world order.
The study also reveals that the Ministry of Foreign Trade, within the framework of executing its strategy of strengthening the UAE's ties with its commercial partners, broadening the contribution of foreign trade to GDP, protecting the commercial and investment interests of the state, and boosting foreign direct investments to its markets, has coordinated its efforts with the Ministry of Foreign Affairs and opened commercial offices for the UAE in China, the USA, Switzerland, Germany, and India, at a time when it also worked on strengthening its economic and commercial ties with the GCC states and brotherly Arab states through the Greater Arab Free Trade Agreement and a number of free trade agreements with various Arab and foreign countries and global economic blocks.
The study also reveals that the UAE's foreign trade sector has witnessed a noticeable improvement during the period between 2005 - 2009, which is evident in international reports; The UAE's global ranking according to the World Trade Organisation has advanced to the 19th place in 2009 in the list of the most important countries in commodity exports, moving up by one position from the same list in 2008, and 8 positions from 2005. This means that the UAE has become one of the world's 20 most important exporters. The UAE also came in 27th with regards to commodity imports according to the 2009 WTO report in comparison to the 38th place in 2005.
Foreign Trade between 2005 - 2009 The UAE's Foreign Trade has gone up during the 2005 - 2009 period by an average 18.6 percentage points. This was primarily a consequence of the increase in non-oil exports and re-exports by 18.2%, in addition to an increase in exports by an average of 18.9% for the same period.
Geographic Concentration Non-Arab Asian States are considered of the largest contributors to the UAE's volume of foreign trade between 2005 - 2009, contributing 64.1%, followed by the European States Block contributing 25.5% during the same period. The Arab states block, with the exception of the GCC States, achieved an overall 30.9% foreign trade growth during 2009 in comparison with 2008 and an average 6.2% contribution during 2005 - 2009. The other group that achieved an overall increase in foreign trade was the "other countries" group [these countries don't lie within a certain group categorisation]. As for the GCC States, the UAE's trade with them constituted 7.9% of its overall trade during that period, and in spite of the overall decrease in trade in 2009 in comparison with 2008, the UAE's trade with the GCC exceeds its trade with other Arab countries.
Trade Partners 2009 UAE Trade has been concentrated with 10 states that constituted 56.7% of the UAE's overall trade for the year 2009, 58.9% for the year 2008, and 57% for the year 2007, while the rest of the world [nearly 180 countries] constituted only 43.3% in 2009 and 41.1% in 2008 and 43% in 2007.
Three countries; India, China, and the United States, have occupied the top three positions during the period between 2007 and 2009. India came in first with a volume of foreign trade with the UAE worth US$29.6 Billion in 2009 constituting a 16.4% contribution to the foreign trade structure, followed by China coming in second place with a 7.5% contribution, with the USA coming in third place with a 6.8% contribution.
Iran came in fifth place during the year 2009 advancing 5 positions from 2008, contributing 4.7% in 2009, [up by 10.6% in comparison with 2008] while The Kingdom of Saudi Arabia entered the top ten list in 2009 although trade with the Kingdom has decreased by 1% in comparison with 2008.
Turkey did not appear in the list in 2009, while Germany jumped to the fourth position going up from 5th place in 2007 and 2008, while Switzerland declined to the 7th place with foreign trade with it decreasing by 26.7% during 2009 in comparison with 2008.
Trade Geography During the First Quarter of 2010 India, China, The United States of America, Iran, Japan, Germany, The Kingdom of Saudi Arabia, the United Kingdom, Switzerland, and Italy, respectively held the top ten trade positions with the UAE during the first quarter of 2010 with a trade value of US$27.4 billion that constituted 58.8% of the State's overall foreign trade for the first quarter of 2010.
The countries most receiving of UAE non-oil exports during the first quarter of 2010 were India, Saudi Arabia, Switzerland and the Sultanate of Oman, while the most important re-export partners for the same period were India, Iran, Iraq, in addition to the GCC States, while the most important countries exporting to the UAE were India, China, the United States of America, Japan, Germany, the United Kingdom, Italy, Switzerland, France, the Kingdom of Saudi Arabia, and South Korea. – Emirates News Agency, WAM

X