UAE non-oil foreign trade increased to AED 78.3 bn in January
Abu Dhabi: The total non-oil foreign trade of the UAE during the month of January 2012 was AED 78.3 billion as compared to AED 72.3 billion of the same period last year showing an increase of six billion dirhams and a growth rate of eight per cent.
The UAE non-oil exports increased by AED 2.7 billion from AED 7.8 billion in January 2011 to AED 10.1 billion in January 2012, growing by 30% in spite of the unfavorable political and economic circumstances in the region and the world, the primary statistics of the Federal Customs Agency (FCA) revealed.
In the same month, imports increased by 11pc only, raising the UAE non-oil imports from AED 46.8 billion in January 2011 to AED 52.1 billion in January 2012. The re-exports slightly declined by AED 1.4 billion to reach AED 16.2 billion in the same month last year.
The increasing growth of the UAE non-oil exports reflects better quality and more competitiveness in the UAE national product at the international markets. This growth is an indicator of increasing confidence in the UAE product in such markets. The application of modern technology systems in companies, the producers’ compliance with the world quality standards and specifications and the policies and incentives adopted by the good government enhanced quality and competitiveness of the UAE product, the FCA said.
The growth in the UAE non-oil exports at these rates in the light of declining rates of imports will improve the trade deficit between the UAE and the external world, optimizing the ability of the national economy.
The total foreign non-oil trade of the UAE climbed up to AED 78.3 billion in January 2012 compared to AED 72.3 billion in January 2011 AED 72.3 b in January 2011, with an increase of AED 6 billion by 8%.
In terms of weight, the FCA indicated, the total foreign trade of the UAE hit about 9 million tons, including 5 million tons of imports, 3.2 million tons of exports and 868 thousand tons of re-exports. The daily average weights of the customs consignments processed by the different customs outlets (exports, imports and re-exports) reached 38 thousand tons over the day on the basis of official working hours (8 hours, five days a week), with an average of 5 thousand tons per hour.
The region of Asia, Australia ‘&’ Pacific come on top of the array of UAE commercial partners in the area of non-oil foreign trade, as the volume of its trade with UAE reached AED 36.8 Billion, in percentage of 48% of total trade volume. Next come Europe Region with share of AED 18.2 Billion, in percentage of 24% of total trade. Then region of North Africa ‘&’ Middle East with share of AED 10.1 Billion, in Percentage of 13.15 of total trade. And the region of America ‘&’ Caribbean with share of AED 7.6 Billion, in percentage of 10%.
Then East ‘&’ South Africa Region with share of AED 2.2 Billion, in percentage of 3%. At Last come the region of West ‘&’ Middle Africa which shared by AED 2 Billion, in percentage of 3% of the total volume of Foreign Trade of the same month.
FCA said that the total foreign non-oil trade of the UAE with the Gulf Council Countries (GCC) hit AED 6.1 billion in January this year, including AED 2.2 billion in imports; AED 1.6 billion in exports and 2.3 billion in re-exports.
Kingdom of Saudi Arabia (KSA), maintained its top seat among the trade partners of the UAE in GCC during last January. The total UAE- KSA trade reached AED 2.3 billion. Oman came second with AED 1.6 billion, followed by Kuwait with AED 808 million; Bahrain with AED 681 billion and Qatar with AED 673 million.
“The total foreign trade between the UAE and Arab countries hit AED 10.4 in last January, including AED 4.5 billion in imports; AED 2.4 billion in exports and AED 3.4 billion in re-exports”, the Federal Customs Agency said.
The primary statistics in last January showed that the gold was at the top of imported goods with AED 7.8 billion, followed by diamonds with AED 3.1 billion; cars with AED 3 billion; aircraft with AED 1.7 billion and jewelry with AED 1.7 billion.
Gold comes at the top of the goods exported abroad in January 2012 at AED 5.1 billion, followed by polyethylene in elemental forms with AED 491 million; jewelry and its parts with AED 326 million; petroleum oils and others at AED 302 million and propylene polymer or polyolefins in its basic forms with AED 294 million, the FCA said.
Diamond came at the top of re-exported goods in January 2012 with AED 3.6 billion, followed by mobile phones AED 1.4 billion; then cars with AED 1.3 billion and jewelry and its parts with AED 816 million. The total trade of free markets and zones hit AED 1.3 billion during the month of January 2012.