Non-Oil UAE Trade Hits Dhs370.3bn In Five Months With Dhs71bn Increase
UAE non-oil foreign trade continued growth for 5 months of 2011 compared to the same period of the last year. Federal Customs Authority (FCA) preliminary statistics show that UAE non-oil foreign trade has grown for the staid period by 24 per cent compared to the same period of the last year as Total non-oil Foreign Trade has grown from Dhs299.2bn during the first 5 months of 2010 to Dhs370.3bn in the same period of 2011, i.e., an increase of Dhs71bn.
In a press release issued yesterday, FCA said that preliminary statistics for the first 5 months of 2011 show a 22 per cent growth in imports to increase from Dhs195bn during the first 5 months of 2010 to Dhs237.4bn for the same period in 2011. On the other hand, exports witnessed an astounding growth by 41per cent for the same period with an increase from Dhs31bn to Dhs43.5bn.
Re-exports, however, experienced a growth rate of 22 per cent to go up from Dhs73.3bn to Dhs89.4bn for the same period.
According to FCA, growth rates in non-oil foreign trade for the first 5 months of 2011 confirm the national economy’s course of recovery and restoration of the pre-world financial crisis growth rates. Statistics also feature skyrocketing growth rates in exports and re-exports; facts reflecting positive trends of the national economy in terms or productivity, exports, re-exports and higher competitiveness for national products in global markets.
For FCA, in terms of value, UAE total foreign trade in May, 2011 valued YoY Dhs73bn compared to Dhs61.6 with an increase of 18 per cent. May Imports, in turn, hit YoY Dhs47.8bn with an increase of 22 per cent. Exports achieved YoY Dhs8.7bn with an increase of 21 per cent. Yet, re-exports recorded a YoY increase of 7 per cent to hit Dhs16.4bn.
However, weight-wise UAE total foreign trade in May, 2011 has hit 7.1 m tons, of which 4.5 m tons in imports, 1.9 m tons in exports and 716 thousand tons in re-exports. Accordingly, daily average of consignments and shipments, in exports and imports and re-exports, handled at various custom ports reached 29 thousand tons against an official daily man-hours of 8 hours / 5 days a week, with an average of 4 thousand tons / hour.
According to the FCA press release, each of India, China, the US, Germany, South Korea, Japan, Italy, Switzerland, and the UK respectively, topped exporters’ list to the UAE in May, 2011 with a total value of Dhs28.7bn, or 60 per cent of the UAE total imports.
On the level of non-oil exports, India, Saudi Arabia, Switzerland, Kuwait, Iran, Turkey, France, Singapore, Iraq, Hong Kong, respectively, spearheaded importers from the UAE with Dhs5.9bn, accounting for 68 per cent of the UAE exports. Meanwhile, Iran, India, Iraq, Belgium, Hong Kong, Saudi Arabia, Afghanistan, Kuwait, Bahrain and Qatar topped the list in terms of re-exports with Dhs11.6bn, representing 70 per cent of the UAE total re-exports.
The total value of UAE-GCC non-oil foreign trade hit Dhs5.8bn in May, 2011, of which Dhs2.4bn in imports, Dhs1.4bn in exports and Dhs1.9bn in re-exports. Saudi Arabia maintained its first rank among GCC region’s trading partners with a total value of Dhs2.6bn in May, 2011. Kuwait came second with Dhs1bn, followed by Bahrain (Dhs769m), Oman (Dhs729m) and finally Qatar (Dhs620m).
Further, FCA press release read, "UAE total foreign trade with Arab countries in terms of value amounted to Dhs10.2bn in May, 2011, with Dhs4.6bn worth of imports, Dhs2bn worth of exports and Dhs3.6bn of re-exports. Saudi Arabia topped the list of Arab states in terms of non-oil trade with the UAE, followed by Sudan, Iraq, Oman, Bahrain, Morocco, and Egypt. Djibouti and Comoros tailed the list." The preliminary statistical data of May, 2011 showed that gold ranked first among imports with a value of Dhs7.9bn, followed by diamond with Dhs3.2bn, cars with Dhs2.1bn, ornaments and jewelry with Dhs1.9bn, and telephone sets Dhs911m.
Gold, according to FCA, also came first among exports in May, 2011 with Dhs4.6bn, followed by petroleum oils and other derivatives with Dhs297m, ethylene polymers with Dhs214m, then ornaments and jewelry and related parts with Dhs183m.
On the level of re-exports, diamond came first with a total value of Dhs4.5bn, cars (Dhs1.2bn), ornaments and jewelry and related parts with Dhs906m, followed by telephone sets (Dhs834m).
The total trade volume of UAE free zones and markets in March, 2011 amounted to Dhs1.3bn.
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