Al Bhatti
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August 25, 2012
UAE non-oil foreign trade reaches Dh1.3tr in 2011
Export growth rate reflects competitiveness of national products, report says
The value of the UAEs non-oil foreign trade sector surged Dh1.3 trillion in 2011 compared to Dh1.1 trillion in the previous year, up by Dh200 billion at a growth rate of 18.2 per cent, according to an initial statistical report released by the Federal Customs Authority (FCA).
It added in a statement issued on Saturday that the total of UAE non-oil foreign trade increased to Dh927.7 billion during the year, while the value of free zones trade increased to Dh367.7 billion, of which Dh212.5 billion was value of imports and Dh145.2 billion was the value of exports and re-exports.
The FCA declared in a press release that the primary statistical database for 2011 is an important economic standard, indicating national economic recovery and the increase of competitiveness of national products in world markets. Moreover, such data shows the success of state policies following the world financial crisis and represents how far the leadership has turned the economic diversification policy into reality.
It added that imports have restored the growth ratio as prior to the world crisis. The value of imports have been raised from Dh485.4 billion in 2010 to Dh602.8 billion in 2011, achieving an increase of 24 per cent.
It added that the export growth rate reflects the high competitiveness of national products. Also, the increase of exports versus the decrease of imports means that the former contributed to minimise the financial deficit. This results in a series of positives such as having more foreign currency invested.
The FCA declared that ten countries dominated almost 67 per cent of the UAEs total imports. The total value of UAE imports was about Dh369.6 billion in 2011.
UAE non-oil foreign trade reaches Dh1.3tr in 2011 | GulfNews.com
UAE non-oil foreign trade reaches Dh1.3tr in 2011
Export growth rate reflects competitiveness of national products, report says
The value of the UAEs non-oil foreign trade sector surged Dh1.3 trillion in 2011 compared to Dh1.1 trillion in the previous year, up by Dh200 billion at a growth rate of 18.2 per cent, according to an initial statistical report released by the Federal Customs Authority (FCA).
It added in a statement issued on Saturday that the total of UAE non-oil foreign trade increased to Dh927.7 billion during the year, while the value of free zones trade increased to Dh367.7 billion, of which Dh212.5 billion was value of imports and Dh145.2 billion was the value of exports and re-exports.
The FCA declared in a press release that the primary statistical database for 2011 is an important economic standard, indicating national economic recovery and the increase of competitiveness of national products in world markets. Moreover, such data shows the success of state policies following the world financial crisis and represents how far the leadership has turned the economic diversification policy into reality.
It added that imports have restored the growth ratio as prior to the world crisis. The value of imports have been raised from Dh485.4 billion in 2010 to Dh602.8 billion in 2011, achieving an increase of 24 per cent.
It added that the export growth rate reflects the high competitiveness of national products. Also, the increase of exports versus the decrease of imports means that the former contributed to minimise the financial deficit. This results in a series of positives such as having more foreign currency invested.
The FCA declared that ten countries dominated almost 67 per cent of the UAEs total imports. The total value of UAE imports was about Dh369.6 billion in 2011.
UAE non-oil foreign trade reaches Dh1.3tr in 2011 | GulfNews.com
