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Mon 24 Oct 2016 04:56 PM

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UAE's non-oil foreign trade exceeds $150bn in H1, up 3%

Saudi Arabia is named the UAE's top GCC trading partner while raw gold dominates both imports and exports

UAE's non-oil foreign trade exceeds $150bn in H1, up 3%
(Getty Images)

The UAE's non-oil direct trade increased by 3 percent in the first half of 2016, reaching AED553.4 billion ($150.6 billion), according to official figures.

The AED17.7 billion increase was registered as Asia, Australia, and the Pacific regions retained their place as top trading partners with a share of AED211.3 billion accounting for 39 percent of the total non-oil trade.

Europe ranked second, with a share of AED139.9 billion (26 percent), and the Middle East and North Africa region came next with a share of AED92.9 billion (17 percent), news agency WAM reported.

America and the Caribbean contributed a share of AED55.1 billion (10 percent), while East and South Africa made up AED16.8 billion (3 percent), according to the latest figures of the Federal Customs Authority (FCA).

Saudi Arabia was the UAE top GCC non-oil trade partner with a share of AED18.4 billion, representing 36 percent of the UAE non-oil trade with GCC countries, followed by Oman, Qatar, Kuwait and Bahrain.

Ali Al Kaabi, FCA chairman, said the rate of trade exchange between the UAE and countries around the world grew during the first half of the year despite a global slowdown.

The statistics showed that raw gold was ranked top in imported goods valued at AED55.6 billion, followed by unmounted diamonds and cars.

Exports were also topped by raw gold followed by raw aluminium and precious stones jewellery during the first half of 2016.

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