Al Bhatti
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20 August 2014
Khalifa Port in Abu Dhabi. The UAE’s non-oil trade in terms of weight reached around 40.7 million tonnes in the first quarter.
UAE's non-oil trade hits Dh256 billion
Momentum driven by strong performance across all economic sectors in UAE
The UAE’s non-oil trade reached Dh256 billion in the first quarter of 2014, reflecting the continuous momentum of the country’s non-oil foreign trade in 2013, driven by stronger performance in all economic sectors and the country’s more advanced position on many global indices, preliminary data of the Federal Customs Authority, or FCA, showed on Tuesday.
“The FCA’s statistics show that imports accounted for 65 per cent, or Dh166.4 billion, of the non-oil trade in the first quarter, while exports accounted for 11.8 per cent, or Dh30.2 billion, and re-exports that represented 23.2 per cent, or Dh59.4 billion of non-oil trade,” the FCA said in a Press release affirming that the UAE has continued to enhance its prime position on the world trade map and enhance the role it plays in facilitating trade across the world in the first quarter of this year.
The UAE’s non-oil trade in terms of weight reached approximately 40.7 million tonnes in the first quarter of 2014, of which imports accounted for 15.5 million tonnes, exports 22.7 million tonnes and re-exports 2.5 million tonnes.
The FCA said the first-quarter statistics represent a significant launchpad for the UAE’s trade balance with other countries, after the foreign trade indices returned last year to the normal levels of pre-global financial crisis era that hit the world hard in 2008. The country’s federal customs regulator added that the non-oil trade in 2013 saw relative steady growth rates throughout the year, which in turn mirrors the sound economic and trade policies of the UAE.
In the first quarter of 2014, the Asia-Pacific and Australia region maintained its leading position among the UAE’s trade partners in terms of non-oil trade, accounting for 43 per cent, or Dh106 billion of total direct trade volume.
The remaining regions maintained their relative weight in terms of total trade during the first quarter, as Europe took the second position contributing 27 per cent, or Dh67.2 billion, to total trade, followed by the Mena region with 14 per cent, or Dh35.1 billion.
The US and Caribbean ranked fourth with 10 per cent of the total non-oil trade, or Dh24.1 billion, followed by West and Central Africa (four per cent, or Dh9.4 billion) and East and South Africa (three per cent, or Dh7 billion).
Based on the FCA figures, the value of non-oil trade between UAE and the GCC reached Dh22.9 billion in the first quarter, of which GCC imports accounted for Dh7.4 billion, while exports and re-exports represented Dh7.7 billion each.
GCC countries maintained their relatively flat positions among trade partners of the UAE, with Saudi Arabia on top.
The total value of UAE-Saudi non-oil trade recorded Dh8.3 billion, accounting for 36.2 per cent of total trade with GCC countries. Oman came second with Dh6 billion (26.4 per cent), followed by Kuwait and Qatar with Dh3.2 billion (14 per cent) each, and Bahrain with Dh2.2 billion (9.4 per cent).
Non-oil trade with Arab countries hit Dh35.9 billion in the first quarter, to which imports contributed Dh11.9 billion, exports and re-exports Dh11.7 billion and Dh12.3 billion, respectively.
The FCA said gold, motor vehicles, diamond, jewels and jewellery, telephone sets, aerial and space vehicles, data processing devices, pure copper and copper mixes were on top of the UAE’s imports in the first quarter.
Gold, jewels and jewellery, ethylene polymers, crude aluminium, copper wires, petroleum oils and processed mineral oils, iron scrap, sugar cane or sugar beet came at the first place in the list of exports.
Top re-exports in the said period were diamonds, jewels and jewellery, motor vehicles, mobile sets, reciprocating engines, data processing devices, magnetic and optical readers and transport trucks.
“The UAE is keen on facilitating world trade and removing customs and non-customs hiccups before mutual trade with peers worldwide. This in turn would cement bilateral international relations, contribute to meeting national expectations and consumer growing demand while the UAE seeks to protect the society from illegal trade practices and maintain the economic interest of the business sector locally and overseas,” the FCA said.
Business - UAE's non-oil trade hits Dh256 billion
Khalifa Port in Abu Dhabi. The UAE’s non-oil trade in terms of weight reached around 40.7 million tonnes in the first quarter.
UAE's non-oil trade hits Dh256 billion
Momentum driven by strong performance across all economic sectors in UAE
The UAE’s non-oil trade reached Dh256 billion in the first quarter of 2014, reflecting the continuous momentum of the country’s non-oil foreign trade in 2013, driven by stronger performance in all economic sectors and the country’s more advanced position on many global indices, preliminary data of the Federal Customs Authority, or FCA, showed on Tuesday.
“The FCA’s statistics show that imports accounted for 65 per cent, or Dh166.4 billion, of the non-oil trade in the first quarter, while exports accounted for 11.8 per cent, or Dh30.2 billion, and re-exports that represented 23.2 per cent, or Dh59.4 billion of non-oil trade,” the FCA said in a Press release affirming that the UAE has continued to enhance its prime position on the world trade map and enhance the role it plays in facilitating trade across the world in the first quarter of this year.
The UAE’s non-oil trade in terms of weight reached approximately 40.7 million tonnes in the first quarter of 2014, of which imports accounted for 15.5 million tonnes, exports 22.7 million tonnes and re-exports 2.5 million tonnes.
The FCA said the first-quarter statistics represent a significant launchpad for the UAE’s trade balance with other countries, after the foreign trade indices returned last year to the normal levels of pre-global financial crisis era that hit the world hard in 2008. The country’s federal customs regulator added that the non-oil trade in 2013 saw relative steady growth rates throughout the year, which in turn mirrors the sound economic and trade policies of the UAE.
In the first quarter of 2014, the Asia-Pacific and Australia region maintained its leading position among the UAE’s trade partners in terms of non-oil trade, accounting for 43 per cent, or Dh106 billion of total direct trade volume.
The remaining regions maintained their relative weight in terms of total trade during the first quarter, as Europe took the second position contributing 27 per cent, or Dh67.2 billion, to total trade, followed by the Mena region with 14 per cent, or Dh35.1 billion.
The US and Caribbean ranked fourth with 10 per cent of the total non-oil trade, or Dh24.1 billion, followed by West and Central Africa (four per cent, or Dh9.4 billion) and East and South Africa (three per cent, or Dh7 billion).
Based on the FCA figures, the value of non-oil trade between UAE and the GCC reached Dh22.9 billion in the first quarter, of which GCC imports accounted for Dh7.4 billion, while exports and re-exports represented Dh7.7 billion each.
GCC countries maintained their relatively flat positions among trade partners of the UAE, with Saudi Arabia on top.
The total value of UAE-Saudi non-oil trade recorded Dh8.3 billion, accounting for 36.2 per cent of total trade with GCC countries. Oman came second with Dh6 billion (26.4 per cent), followed by Kuwait and Qatar with Dh3.2 billion (14 per cent) each, and Bahrain with Dh2.2 billion (9.4 per cent).
Non-oil trade with Arab countries hit Dh35.9 billion in the first quarter, to which imports contributed Dh11.9 billion, exports and re-exports Dh11.7 billion and Dh12.3 billion, respectively.
The FCA said gold, motor vehicles, diamond, jewels and jewellery, telephone sets, aerial and space vehicles, data processing devices, pure copper and copper mixes were on top of the UAE’s imports in the first quarter.
Gold, jewels and jewellery, ethylene polymers, crude aluminium, copper wires, petroleum oils and processed mineral oils, iron scrap, sugar cane or sugar beet came at the first place in the list of exports.
Top re-exports in the said period were diamonds, jewels and jewellery, motor vehicles, mobile sets, reciprocating engines, data processing devices, magnetic and optical readers and transport trucks.
“The UAE is keen on facilitating world trade and removing customs and non-customs hiccups before mutual trade with peers worldwide. This in turn would cement bilateral international relations, contribute to meeting national expectations and consumer growing demand while the UAE seeks to protect the society from illegal trade practices and maintain the economic interest of the business sector locally and overseas,” the FCA said.
Business - UAE's non-oil trade hits Dh256 billion
