First quarter data shows Saudi Arabia is the UAE's top trading partner during Q1
The UAE's total non-oil foreign trade reached about AED401 billion ($109.1 billion) in the first quarter of 2017, up 3.2 percent on the same period last year, it was revealed on Tuesday.
Trade volumes rose from AED388 billion during Q1 2016, according to statistics released by the Federal Customs Authority.
Direct foreign trade, which represents 68 percent of the UAE’s total trade volume, was valued at AED272 billion during the same period, while the Free Zone trade represented 32 percent at AED129 billion, reported state news agency WAM.
Ali Al Ka’abi, head of the Federal Customs Authority, hailed the "remarkable stability" due to the economic diversification.
He said the data also showed a significant increase of 7.4 percent in re-exports to reach AED110 billion in Q1 with exports valued at AED46 billion.
Imported goods grew by 5.2 percent during Q1 to AED245 billion, he added.
GCC states were the major trade partners of the UAE accounting for 11 percent of the country's total trade during Q1, with Saudi Arabia top with AED19.9 billion of non-oil trade.
Gold topped the list of imported goods during the first quarter with a value of AED34.7 billion, accounting for 14 percent of total imports. Mobile phones were second with a value of AED24.2 billion while vehicle imports were valued at AED14.5 billion.