UAE's non-oil trade in 2011 reaches Dh927.7 billion

Abu Dhabi, May 21, 2012 (WAM) - The non-oil foreign trade sector in United Arab Emirates surged to around Dh1 trillion during 2011, according to recent figures released yesterday by the Federal Customs Authority (FCA). With a year-on-year growth rate of 23%, the UAE's non-oil trade in 2011 increased by Dh173.4 billion, up from Dh754.3 billion in 2010 to Dh927.7 billion in 2011, FCA said. FCA said the growth curve reflects a systematic monthly rate fluctuating between 20% and 23% manifesting an annual growth rate of 23% is neither "which is neither an accidental nor contingent result but the fruit of the successful policies followed by the government." "Ten countries dominate around 61% of the total value of the imports of UAE. The total value of UAE imports was about Dh369.6 billion in 2011. India comes on the top of these countries with an import volume of Dh105 billion, followed by China with Dh55 billion, USA with Dh52.3 billion, Germany with Dh30.7 billion and Japan with Dh30 billion," FCA said in the press release. "Ten countries receive around 69% of the UAE's exports which totalled Dh78.3 billion. India came in the first place, followed by Switzerland and Saudi Arabia. The total value of non oil trade between the UAE and GCC amounted to Dh63.2 billion in 2011, with Dh27.8 billion worth of imports, Dh13.2 billion worth of exports and Dh22.1 billion of re-exports. Saudi Arabia, in terms of non-oil trade with the UAE, topped the list of GCC States by Dh26.7 billion, followed by Kuwait Dh11.3 billion, Oman Dh8.8 billion, Bahrain h8.7 billion and Qatar with Dh7.7 billion. "The UAE's total foreign trade with Arab countries in terms of value amounted to Dh116.4 billion in 2011 with Dh54.6 billion worth of imports, Dh21.9 billion worth of exports and Dh40 billion of re-exports." Saudi Arabia topped the list of Arab states in terms of non-oil trade with the UAE in 2011, followed by Sudan, Iraq, Oman, Morocco, Kuwait , Bahrain, Libya, Egypt, Qatar, Lebanon, Jordan, Yemen, Algeria, Syria, Mauritania, Somalia, Tunisia, Palestine, Djibouti and Comoros. The preliminary statistical data of 2011 showed that gold ranked first among imports with a value of Dh99.9 billion, followed by diamond with Dh59.3 billion, cars with Dh28 billion, ornaments and jewellery with Dh23.3 billion, and telephone sets with Dh7.3 billion, tractors accessories, private cars, coaches and vans with Dh7.2 billion. Gold, according to FCA, also came first among exports in 2011 with Dh62 billion, followed by fire-fighting, guiding equipment and ships with Dh4.3 billion, petroleum oils and other derivatives with Dh3.8 billion, un-fabricated aluminium with Dh2.1 billion and ornaments and jewellery with Dh2 billion. On the level of re-exports, diamond came first with a total value of Dh62.8 billion, followed by ornaments and jewellery and related parts Dh18 billion, cars Dh12.7 billion and telephones sets Dh10.4 billion. The total trade volume of UAE free zones and markets in 2011 amounted to Dh15.8 billion with Dh7.6 billion worth of imports, Dh2.8 billion worth of exports and Dh40 billion of re-exports. – Emirates News Agency, WAM