Gold propels UAE exports up 61%

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Non-oil exports from the UAE grew 61 percent to AED135.7bn (US$36.9bn) in the first nine months of 2012, driven by large foreign sales of gold, according to the Federal Customs Authority (FCA).

Total foreign non-oil trade, minus free zones, in the Gulf state was up AED99bn to AED783.5bn from January to September during the year.

According to statistics published by the FCA, Gold was the top UAE non-oil export with AED79.8bn, or more than half of all exports. Exports of jewellery and jewels reached AED4.9bn, while foreign crude aluminium sales were worth AED3.3bn.

Imports into the UAE during the same period in 2012 rose 13 percent to AED495bn compared to the same period a year prior. Again, gold was top among imported goods, worth AED106.4bn, followed by diamonds at AED29.7bn. AED28.1bn of cars were imported into the Gulf state, followed by AED27.2bn of jewellery and jewels and jet propeller turbines at AED10.6bn.

Re-exports from the UAE fell 5 percent to AED152.7bn, with diamonds the top re-exported commodity with volumes worth AED26.4bn, followed by jewellery and jewels at AED20.3bn.

Countries in Asia-Pacific were the GCC member’s top trading partners, at AED326.1bn accounting for 42 percent of total trade. Nations in Europe came second at AED222.2bn with 29 percent of total trade, followed by MENA with AED110.6bn or 14 percent, and Americas and the Caribbean with AED64.9bn or 8 percent.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Dubai gold dealers shun Turkish bars on fear of links to Iran

Dubai gold dealers shun Turkish bars on fear of links to Iran

Trade in Turkish gold bars to Iran via Dubai is drying up as...

Glitter, glamour and gold

Glitter, glamour and gold

Gold has long been seen by experts as a hedge against rising...

Turkish gold trade booms to Iran, via Dubai

Turkish gold trade booms to Iran, via Dubai

Couriers carrying millions of dollars worth of gold bullion in...

Most Discussed