UAE non-oil trade up 2.3% to $65bn in Q1

Gov't data shows gold was Gulf state's top exported good; biggest trading partner Asia-Pacific
UAE non-oil trade up 2.3% to $65bn in Q1
(AFP/Getty Images)
By Daniel Shane
Sun 30 Sep 2012 09:50 AM

The UAE’s non-oil foreign trade grew by 2.3 percent in the
first quarter of 2012, compared to the year-ago quarter, according to data
published by the Gulf state’s customs authority.

During the three-month period, non-oil trade with foreign
countries reached AED238.4bn (US$64.9bn), the Federal Customs Authority said.

Exports from the UAE increased 38 percent to AED34.3bn
compared to AED24.8bn in the same quarter in 2011, while imports to the Gulf
country were up 6 percent to AED156.3bn, from AED147bn in the year ago quarter.

Gold was the UAE’s top exported good, accounting for
AED17.6bn worth of trade, followed by polyethylene and propylene polymers in
crude forms at AED3.8bn.

Diamonds were the country’s top re-export at AED12bn in
value, followed by jewels at AED3.6bn and phones at AED3.4bn.

The Asia-Pacific region was the UAE’s biggest trade partner,
with imports and exports accounting for AED110.2bn, or 47 percent, of total
foreign trade.

This was followed by Europe, with AED58.8bn, or 25 percent
of total overseas trading; the Middle East and North Africa at AED31bn (13
percent); America and the Caribbean with AED21.3bn (9 percent); Central and
Western Africa with AED6.7bn (2.9 percent); and Eastern and Southern Africa
with AED6.3bn (2.7 percent).

Total non-oil trade with GCC countries was AED18.6bn during
the quarter, consisting of AED6.9bn in imports, AED4.8bn in exports and
AED6.9bn in re-exports.

Saudi Arabia remained the UAE’s top partner in terms of
intra-GCC trade at AED7.1bn, followed by Oman at AED4.7bn, Kuwait and Qatar at
AED2.4bn a piece and Bahrain, with AED2bn.

For all the latest industry news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.