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UAE non-oil trade grows by 5% to Dhs1.6 trillion last year

: Sunday, June 22 - 2014 @ 10:15

The total non-oil trade of the United Arab Emirates (including the direct non-oil foreign trade and the free zone trade) continued to grow in the last year, compared to the preceding year. This put the UAE in an important place in the world trade map, enhancing its role in boosting and facilitating the trade exchange across the world.

The statistical data of the Federal Customs Authority (FCA) revealed that the total non-oil foreign trade grew by 5% in 2013 compared to the previous year.

The 2013 statistical data showed that the total non-oil trade rose by DHS100bn to reach DHS1.6 trillion in 2013 compared to DHS1.5 trillion in 2012, according to an FCA press statement issued yesterday. The FCA data indicated a 6% growth in the total foreign trade between 2012 and 2013, climbing up from DHS919.9 trillion in 2012 to DHS971.2bn in 2013. This indicates the growing role of the UAE as an open market for all goods from all over the world.

“The exports hit about DHS186.04bn in 2013 from the total trade, while the re-exports grow significantly by 11% from DHS399.7bn in 2012 to DHS443.4bn in the last year,” according to the FCA.

The FCA indicated that the data revealed the UAE significant role in the world re-export trade whether in the direct non-oil or free zone trade. The companies and factories established in the UAE are playing a critical role in facilitating trade, especially in Asia and Middle East region, the Arab Gulf, Europe and Africa, according to the FCA. In terms of weight, the UAE total foreign trade hit around 198.3m ton including 94.1m ton in imports, 86.9m ton in exports and 17.3m ton in re-exports. This means that the daily average of consignment weights handled at the different customs ports (exports, imports, re-exports) hit about 826 thousand ton a day based on the official working hours (8 hours a day 5 hours a week) with an average of 103 thousand ton per hour.

“As a component of the total trade, the UAE non-oil trade alone ht DHS1.1 trillion last year,” the FCA said. The non-oil imports hit DHS685.1bn while the exports hit DHS148.2bn and the re-exports hit DHS232.2bn of the total direct non-oil trade. In terms of value, the UAE free zone trade hit about Dhs520.3bn in the last year, including DHS286.1bn in imports, DHS23bn in exports and DHS211.2 in re-exports, according to the FCA.

The UAE general non-oil foreign trade had a diverse geography which included all customs regions across the world. Asia- Pacific retained its top place among the UAE trade partners in terms of the general total of the non-oil foreign trade with DHS657.7bn (43% of the total trade).

Other regions kept its proportional weight from the total trade last year. Europe came second wit DHS374bn (24%) and the Middle East and North Africa Region came third with DHS264bn by 17% of the total. Caribbean and South America came in the fourth place with DHS138.1bn (9%) of the UAE total non-oil trade, followed by West and Central Africa region in the fifth place with DHS50.3bn (3.3%) and COMESA in the last place with DHS44.5bn (2.9%). The total non-oil trade with the Gulf Cooperation Council (GCC) hit DHS163.5 during the last year including DHS39.4 in imports, DHS32.8bn in exports and DHS91.3bn in re-exports.

The GCC had a relatively fixed partnership structure in relation to the UAE total non-oil trade last year with the Kingdom of Saudi Arabia keeping its top place throughout the year. The UAE- KSA total non-oil trade hit DHS79.9 (%49) of the total trade with the GCC. Oman came second with DHS28.8bn (18%), followed by Kuwait with DHS23.3bn (14%), Qatar with DHS18.5bn (11%) and finally Bahrain with DHS12.9bn (18%). The UAE total non-oil foreign trade with the Arab countries hit around DHS270bn in the last year, including DHS59.3bn in imports, DHS51.7bn in exports and DHS159 in re-exports, according to the FCA.

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Sunday, June 22- 2014 @ 10:15 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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