UAE non-oil trade rises to Dhs477bn in 8 months

The UAE maintained its growth rate of non-oil foreign trade during the first eight months of 2010, reaching about 9 %, compared to the same period in 2009m according to official figures.

Preliminary statistical data released by the Federal Customs Authority (FCA) confirmed that the total value of UAE non-oil foreign trade increased during that period, from Dhs 436.4 billion in the first eight months of 2009 to Dhs 477.6 billion in the same period in 2010, with an increase value of Dhs 41 billion.

The FCA also indicated in a press statement that persistent growth in the State’s non-oil foreign trade during the compared periods assures evolution in economic growth of the UAE in quantity and quality, not to mention that it reflects the extent of success achieved through the policies pursued by the wise government in abating the negative repercussions of the global economic crisis. The FCA also noted that the most notable observations that can be read from the preliminary data about the State’s foreign trade during the said period are the unprecedented rise in growth rates in exports and re-exports items compared to growth rates in imports item, which confirms success of economic diversification policies pursued by the State in recent years in reducing the State’s trade balance deficit with the outside world.

FCA also added that "Preliminary statistical data for August 2010 revealed a 3 % total growth of imports during the said period, with a rising value from Dhs 301.2 bn by the end of August 2009 to Dhs 311.5 bn at the end of last August, whereas the exports item witnessed a considerable 38 % growth rate compared to growth in exports item in the corresponding period, due to the increase in exports value from Dhs 38.8 bn in the first eight months of 2009 to Dhs 53.6 bn in the same period in 2010. Similarly, re-exports item witnessed 17 % growth rate during that period, with a rising value from Dhs 96.4 bn to Dhs 112.5 bn.

Moreover, it mentioned that the total volume of the State’s non-oil trade witnessed 20 % growth rate only in August 2010, compared to growth rate in the same month of 2009, as the total value of trade increased from Dhs 54.8 bn in August of the last year to Dhs 65.6 bn in August of the present year, indicating that preliminary statistical data showed 92 % growth rate in the State’s non-oil trade exports item to the outside world during the month, rising from Dhs 4.7 bn in August 2009 to Dhs 9.1 bn in August 2010. In the meantime, re-exports item witnessed 22 % growth rate, with a rising value from Dhs 12.9 bn to Dhs 15.7 b, and imports item witnessed 10 % growth rate, rising in value from Dhs 37.2 bn to Dhs 40.9 bn, in the same month.

It further indicated that in terms of weight, the total UAE’s foreign trade volume during the month of August 2010 reached about 6.2 million tons, including 3.8 million tons of imports, 1.7 million tons of exports and 700 thousand tons of re-exports, which means that the daily average weight messages dealt with by the different customs ports, imported, exported and re-exported, during the month amounted to about 26 thousand tons during the day on the basis of official working hours (8 hours for 5 days a week), making an average of 3.23 thousand tons per hour.

On the other hand, the FCA pointed out in the press statement that each of India, China, the United States of America, Germany, Japan, the United Kingdom, Italy, South Korea, Malaysia, and France, respectively, topped the list of exporting countries to the UAE in August 2010 with a total export value of Dhs 25.5 bn; making a rate of 62 % of the total value of UAE imports. In the field of non-oil exports, Norway, India, Switzerland, Saudi Arabia, Iran, Iraq, Qatar, Kuwait, Pakistan, and Hong Kong, respectively, topped the list of importing countries from the UAE, at a value of Dhs 4.7 bn during the same period; 82 % of the total value of UAE exports.

Regarding re-export, each of India, Iran, Iraq, Bahrain, Afghanistan, Saudi Arabia, Qatar, Pakistan, Belgium and Kuwait, respectively, topped the list, at a value of Dhs 11.7 bn, constituting 75 % of the total UAE export value.

The FCA further mentioned that the total non-oil foreign trade volume of UAE with the GCC countries in terms of value reached Dhs 4.6 bn in August 2010 - with Dhs 1.6 bn as the value of imports, Dhs 948 bn as the value of exports and Dhs 2 bn as the value of re-export -, indicating that Saudi Arabia maintained its position at the top of the order of trading partners of the GCC countries with the UAE in last August, with a total value of trade between Saudi Arabia and the UAE reaching Dhs 1.795 bn during that period. Here, Saudi Arabia is seconded in the list by Bahrain, with a share of Dhs 904 bn; followed by Oman, with a share of Dhs 638 bn, then Qatar, with a share of Dhs 631 bn, and finally Kuwait, with a share of Dhs 592 bn.

The FCA also added that "The total foreign trade volume of the UAE with the Arab countries in terms of value amounted to Dhs 8.9 bn in August 2010; of which Dhs 3.6 bn was the value of imports, Dhs 1.5 bn the value of exports and Dhs 3.8 bn the value of re-exports. Again, Saudi Arabia came on top of the list of Arab states in terms of non-oil trading with the UAE in last August, followed by Sudan, Iraq, Egypt, the Sultanate of Oman, Libya, Bahrain, Yemen, Kuwait, Lebanon, Morocco, Jordan, Qatar, Syria, Algeria, Tunisia, Somalia, Djibouti, Palestine, Comoros, and Mauritania, respectively".

The FCA further indicated that preliminary statistical data of August 2010 showed that gold, (including gold plated with platinum) in unwrought, semi-wrought or powder forms, topped the list of imported goods, with a value of Dhs 5.4 bn, followed by diamond, including wrought - but not mounted or set -; with a value of Dhs 3.8 bn, then cars and other motor vehicles basically designed to transport persons (with the exception of vehicles designed to transport more than ten or more persons), including station wagons and racing cars; with a value of Dhs 2.3 bn, then ornaments, jewelry and parts thereof, of precious metal or ordinary metals clad with precious metals; with a value of Dhs 1.8 bn, then telephone sets, including cellular or other wireless networks sets, and other appliances for sending and receiving voice, images, or other data; with a value of Dhs910m, then aerial vehicles; with a value of Dhs903m, and then parts and accessories of tractors, vehicles for special uses, passenger vehicles and goods vehicles; with a value of Dhs589m.

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