UAE non-oil foreign trade hits Dh401 billion in Q1 2017

By Rajive Singh

ABU DHABI 6 September 2017: The UAE’s total non-oil foreign trade in Q1 2017 reached approximately Dh401 billion against Dh388 billion during the same period last year, a growth of 3.2 perncent, according to statistics released by the Federal Customs Authority.

Direct foreign trade, which represents 68 per cent of the UAE’s total trade volume, was valued at Dh272 billion during the same period, while the Free Zone Trade represented 32 per cent of the UAE total trade volume at a value of Dh129 billion, said Wam.

Commissioner Ali Al Ka’abi, Head of the Federal Customs Authority (FCA), has said in a press statement, that the total non-oil trade of the state in the past period has seen a remarkable stability due to the economic diversification and declining oil sector’s contribution to GDP in favour of the productive and service sectors.

He said statistical data for non-oil trade shows a significant increase of 7.4 percent in re-exports to reach Dh110 billion during the same period against Dh102.4 billion in Q1 2016. with exports valued at Dh46 billion.

The trade figures indicated the UAE imported goods grew by 5.2 percent during Q1 to Dh245 billion during the first quarter against Dh233 billion during the same period last year, he noted.

“GCC states are the major trade partners of the UAE accounting for 11 per cent of the country’s total trade during Q1 2017,” he added, noting the total non-oil trade with Gulf nations amounted to Dh45 billion during the monitored period with imports claiming Dh13.7 billion thereof, exports Dh9.2 billion with the re-export volume standing at Dh22 billion.”

Kingdom of Saudi Arabia comes first on the list of UAE trade partners with Dh19.9 billion of non-oil trade followed by Kuwait with Dh7.3 billion, Oman with Dh7.1 billion, and Bahrain with an estimated Dh4.2 billion.

The UAE trade with other Arab countries reached Dh75.2 billion during the same period, Dh22.6 billion of which are imports and Dh17.2 billion are exports, with re-exports valued at Dh35.4 billion.

The native gold and semi-processed gold topped the list of imported goods during the first quarter with a value of Dh34.7 billion, accounting for 14 per cent of total imports. Mobile phones came in the second with a value of Dh24.2 billion while vehicle imports were valued at Dh14.5 billion.