UAE non-oil trade grows to AED 412.5 b in 5 months

UAE non-oil foreign trade maintained positive growth rates in the first five months of this year. The FCA initial statistics showed that the growth rate in the UAE non-oil foreign trade reached 10% in this period compared to the same period in the last year. The total non-oil foreign trade rose by AED 35.9 billion to AED 412.5 billion compared to AED 376.6 billion in the period of comparison. The imports increased by 13% from early January to late May this year, raising the UAE non-oil exports by AED 31.3 billion from AED 238.4 billion in 2011 to AED 269.7 billion in the same period of this year, the FCA said in a press release. The Authority highlighted that the exports grew within the above period by 38% from AED 43.8 billion to AED 60.5 billion, while re-exports hit AED 82.4 billion in this period. In terms of weight, the UAE total foreign trade hit about 44.8 million tons in 2012 January- May, including 23.1 million tons in imports, 17.7 million tons in exports and 3.9 million tons in re-exports. The daily average weight of consignments (exported, imported and re-exported) processed by different customs outlets hit about 187 thousand tons per day (23 thousand tons per hour). In May alone, the UAE foreign trade hit about AED 92.2 billion, including AED 60.7 billion in imports, AED 13.7 billion in exports and AED 17.8 billion in re-exports. Asia-Pacific region, retained its first place among the UAE top non-oil foreign trade partners with a total trade of AED 181 billion with the UAE - 45% of the total trade in the first five months. Europe came in the second place with AED 104 billion (26%) of the total trade followed by Middle East and North Africa with AED 60.6 billion (15%), America and the Caribbean with AED 37.2 billion (9%), Western and Central Africa region with AED 11.9 billion (2.9%) and COMESA with AED 10.8 billion (2.7%). The total of UAE non-oil foreign trade with the Gulf Council Countries (GCC) hit AED 38.6 billion in the first five months of this year. This total consisted of AED 16.9 billion in imports, AED 9.4 billion in exports and AED 12.3 billion in re-exports. The Kingdom of Saudi Arabia (KSA), kept its top place among the UAE trade partners from the GCC in the first five months of this year. The UAE total trade with the KSA reached AED 12.5 billion (32%). Kuwait came in the second place with AED 9.1 billion (23%) followed by, Oman with AED 8.6 billion (22%), Bahrain with AED 4.4 billion (12%) and finally Qatar with AED 4 billion (10%). “The UAE total foreign trade with Arab countries hit about AED 62.1 billion in 2012 January- May. This total is divided into AED 29.6 billion in imports; AED 13.4 billion in exports and AED 19.1 billion in re-exports”, the Authority added. The initial statistics in this period showed that gold came at the top of the imported goods with AED 47.3 billion, followed by diamond with AED 18.4 billion, jewelry with AED 17.2 billion and cars with AED 15.7 billion. Gold, was the top among exported goods with AED 31.5 billion, followed by polyethylene and propylene polymers in crude forms with AED 5.4 billion, jewels and pieces of jewelry with AED 2.3 billion and petroleum and other oils with AED 1.3 billion. Diamond, came first in re-exports in 2012 January- May with AED 18.5 billion, followed by jewels and pieces of jewelry with AED 9.4 billion, cars with AED 6.7 billion and mobile phones with AED 5.2 billion. The total trade of markets and free zones, the FCA said, hit AED 6.5 billion for this period.