UAE foreign non-oil trade grows by 14 percent
Non-oil foreign trade in the UAE witnessed significant growth in 2010 compared to 2009. Initial statistical data of Federal Customs Authority (FCA) show that in 2010 the UAE foreign non-oil trade grew by 14 percent year-on-year, where the UAE total foreign non-oil trade jumped from AED 660.4 bn (US$180 billion) in 2009 to AED 754.4 bn (US$205.5 billion) in 2010, up by AED 94 bn.
The Federal Customs Authority announced that the 2010 initial statistical data showed an 8% growth in imports up from AED 447.4 b in 2009 to AED 485.4 b in 2010. Meanwhile, exports grew significantly by 27% during the comparison period, due to the increase of exports value from AED 65.3 bn in 2009 to AED 83.1 bn in 2010. Re-export. Re-export grew by 26% during the same period rising from AED 147.7 bn in 2009 to AED 185.9 bn in 2010.
In terms of weight, the UAE foreign trade volume in 2010 reached about 76.4 million tons, including 47.8 million tons of imports, 19.9 million tons of exports and 8.7 million tons of re-exports. Thus, the daily average weight of imported, exported and re-exported shipments and consignments handled by the different customs ports during the year amounted to about 318 thousand ton per day on the basis of official working hours (8 hours, 5 days a week), at an average of 40 thousand tons per hour.
FCA indicated that each of India, China, the US, Germany, Japan, the UK, Italy, France, South Korea, and Saudi Arabia respectively were the top ten countries with which the UAE hade trade exchange under imports category in 2010 with a total value of AED 301.9 bn, or 62 percent of the UAE total imports. On the level of non-oil exports, India, Switzerland, Saudi Arabia, Brazil, Iran, Norway, Pakistan, Oman, Qatar, and Kuwait respectively came on top in terms of non-oil exports form UAE with a total value of AED 60.8 bn, accounting for 73 per cent of the UAE total exports. Meanwhile, India, Iran, Iraq, Afghanistan, Bahrain, Saudi Arabia, Qatar, Hong Kong, Belgium and Kuwait respectively topped the list in terms of re-exports with AED 134.2 bn constituting 72 per cent of the UAE total re-exports.
FCA added that the total value of UAE-GCC non-oil trade hit Dh 54.7 bn in 2010 - with AED 22.3 b imports, AED 10 bn exports and AED 22 bn re-exports. Saudi Arabia maintained its position on top of the list among UAE's GCC trading partners in 2010, with a total UAE- Saudi Arabia trade exchange value of ED 21.1 bn. Bahrain came second with AED 9.1 bn, followed by Qatar at AED 8.6 bn, Oman at AED 8.5 bn and Kuwait at AED 7.4 bn.
“The total foreign trade volume of the UAE with the Arab countries in terms of value amounted to AED 106.1 bn in 2010, with 43.4 bn worth of imports, AED 16.8 bn worth of exports and AED 46 bn worth of re-exports. Saudi Arabia topped the list of Arab states in terms of the value of non-oil trade with the UAE, followed by Sudan, Iraq, Libya, Oman, Bahrain, Kuwait, Egypt, Qatar, Yemen, Lebanon, Jordan, Morocco, Syria, Tunisia, Mauritania, Algeria, Djibouti, Palestine and the Comoros respectively”, FCA added:
FCA pointed out that the initial statistical data of 2010 showed that gold took the lead among imported commodities with a value of AED 66.3 b; followed by diamond with AED 48.1 b, cars (AED 26.9 b); ornaments and jewellery (AED 22.6 b); telephone sets (AED 10.4 b); in addition to tractors spare parts and accessories, special purpose vehicles, passenger vehicles and goods vehicles (AED 6.7 b).
FCA revealed that gold also took the lead of exported commodities in 2010 at AED 38.4 bn; followed by light-vessels, fire floats, dredgers or ice class barges at AED 5.6 bn; waste and scrap of precious metals or ordinary metals at (AED 3.8 bn); sugar cane or sugar beet at AED 2.4 bn and finally Ethylene Polymers in primary forms at AED 2 bn. On the level of re-exports, diamond came on top of the commodities re-exported in 2010 with a total value of AED 55.8 bn, followed by ornaments, jewellery and parts thereof (AED 12.7 bn), motor vehicles (AED 11.9 bn) and telephone sets (AED 8.5 bn).
The total trade value of UAE markets and free zones in 2010 amounted to Dh 9.5 b, FCA concluded.
- Tourism is the real target of the Tunisia attacks: industry set to suffer
- FIFA scandal probe: No deaths in 2022 World Cup construction, Qatar says
- The UAE harnesses the power of celebrity endorsements
- Gazans reach beyond Israeli blockade through start-up
- France is playing a risky dating game in the Gulf: experts