UAE's non-oil foreign trade reaches $133 bn in August 2010

Nov 15, 2010 12:00 AM

ABU DHABI: The UAE's non-oil foreign trade rose to 477.6 bn dirhams (about $130 bn) in the first 8 months of 2010, up by 9 %, compared to 436.4 bn dirhams in the corresponding period the previous year.
The preliminary data released by the Federal Customs Authority (FCA) shows the persistent economic growth of the UAE and reflects the extent of success achieved through policies pursued by the government in abating the negative effects of the global economic crisis, officials said.
The most notable observations that can be read from the data are the unprecedented rise in growth rates in exports and re-exports items compared to growth rates in imports items.

It confirms success of economic diversification policies pursued by UAE in recent years in reducing the country's trade balance deficit with the outside world. It also added that “preliminary statistical data for August 2010 revealed a 3 % total growth of imports during the said period, with a rising value of 311.5 bn dirhams at the end of August 2010 from 301.2 bn dirhams in the corresponding period the previous year.
“Whereas the exports item witnessed a considerable 38 % growth rate compared to growth in exports item in the corresponding period, due to the increase in exports value from 38.8 bn dirhams in the first 8 months of 2009 to 53.6 bn dirhams in the same period in 2010.
“Similarly, re-exports item witnessed 17 % growth rate during that period, with a rising value from 96.4 bn dirhams to 112.5 bn dirhams.

India, China, the US, Germany, Japan, Britain, Italy, South Korea, Malaysia, and France, respectively, topped the list of exporting countries to the UAE in August 2010 with a total export value of 25.5 bn dirhams, 62 % of the total value of UAE imports, the FCA said in a statement.
In non-oil exports, Norway, India, Switzerland, Saudi Arabia, Iran, Iraq, Qatar, Kuwait, Pakistan, and Hong Kong, respectively, topped the list of importing countries from the UAE, at a value of 4.7 bn dirhams during the same period -- 82 % of the total value of UAE exports.
In re-export, India, Iran, Iraq, Bahrain, Afghanistan, Saudi Arabia, Qatar, Pakistan, Belgium and Kuwait, respectively, topped the list, at a value of 11.7 bn dirhams, constituting 75 % of the total value of UAE export.

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