UAE's general trade jumps to Dh 346 billion in Q1-12

Abu Dhabi, Oct 24, 2012 (WAM) - The UAE's general trade volume (total volume of UAE non-oil foreign trade and trade of free zones) in the first quarter of 2012 recorded a 6.7% increase by Dh 21.6 billion from Dh 3.24.6 billion to Dh 346.2 billion year on year, Preliminary statistical data released yesterday by the Federal Customs Authority (FCA) showed. The Federal Customs Authority (FCA), in a press release, said imports accounted for Dh 219.9 billion of UAE total trade, while exports and re-exports represented Dh 38 billion and Dh 88.3 billion, respectively. FCA said in a press statement yesterday that the total value of UAE non-oil foreign trade(the first contributor to the state's general trade volume) rose to Dh 238.4 billion in Q1-12, while the total FZ trade (the second contributor) increased to Dh 107.8 billion in the same period. The total value of FZ trade increased by 18% year-on-year to Dh 107.8 billion in Q1-12, from Dh 91.6 billion. "FZ imports jumped by 16% from Dh 55 billion to Dh 63.6 billion in Q1-12. Exports hiked 50% from Dh 2.5 billion to Dh 3.7 billion. Re-exports for free zones climbed 19% from Dh 34 billion to Dh 40.5 billion," FCA stated. In terms of weight, the volume of markets and FZ trade in Q1-12 reached about 6.5 million tons, including 4.2 million tons of imports, 406 thousand tons of exports and 1.9 million tons of re-exports. The Asia-Pacific countries came on top of the UAE's trade partners with respect to the FZ trade volume in Q1-12. This region contributed 43%, or Dh 45.2 billion of the total FZ trade volume, FCA added. "The MENA region ranked second, representing 24%, or Dh 24.5 billion of the free zones' volume, followed by Europe (18%, or Dh 18.4 billion), the Caribbean region (8%, recording Dh 8.2 billion), East and South Africa region (3%, representing Dh 3.4 billion) and West and Central Africa region (2%, or Dh 1.6 billion). The total FZ trade volume with the GCC countries significantly increased in terms of re-exports, compared to imports, which in turn reflects that the GCC countries represent one of the major export destinations to the UAE's free zones. The total FZ trade volume with the GCC countries in terms of value hit Dh 13.8 billion in Q1-12 - with Dh 2.4 billion imports, Dh 11.1 billion re-exports and Dh 259 million exports. Saudi Arabia took the first spot among GCC region's trading partners with a total value of Dh 8 billion, or 58% of total trade. Kuwait came second (Dh 2.4 billion, or 18%), followed by Qatar (Dh 1.8 billion, or 13%), Oman (Dh 892 million, or 6%) and Bahrain (Dh 613 million, or 4%). FCA also pointed out that the total foreign trade volume of the UAE with the Arab countries in terms of value rose remarkably in terms of re-exports, amounting to Dh 25.1 billion in Q1-12 out of which Dh 2.8 billion representing imports with Dh 1.2 billion worth of imports, while exports from the free zones in the State to those countries amounted to Dh 21.1 billion. FCA confirmed that telephone sets took the first position among imports, with a value of Dh 9 billion. It was followed by petroleum oils and processed mineral oils with Dh 5.8 billion, then data processing devices, magnetic and optical readers (Dh 4.8 billion), gold (Dh 3.9 billion), cars (Dh 2.3 billion), and diamond (Dh 2.2 billion). Cigar and cigarettes also took the first rank in the exports list with Dh 766 million. Petroleum oils and processed mineral oils ranked second with Dh 480 million. It was followed by structures and parts of structures (bridges, parts of bridges, gates, dams, towers, etc.) Dh 124 million and cars (Dh 100 million). On the level of re-exports, telephone sets came first with a total value Dh 8.7 billion, followed by petroleum oils and processed mineral oils with Dh 4.8 billion, data processing devices, magnetic and optical readers (Dh 3.4 billion), gold (Dh 2.7 billion), diamond (Dh 1.8 billion), monitors and projectors (Dh 1.2 billion) and jewellery and ornaments (Dh 1 billion). – Emirates News Agency, WAM