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Sat 20 Oct 2012 01:02 PM

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UAE's non-oil foreign trade hits $135bn in H1

Federal Customs Authority says total trade rises by 10% in first six months of 2012

UAE's non-oil foreign trade hits $135bn in H1
Dubai Creek full of cargo as trade comes in and out of the emirate.

The UAE's non-oil foreign trade totalled AED499bn ($135.9bn) in the first six months of 2012, an increase of more than 10 percent on the same period last year.

Initial statistics from the UAE's Federal Customs Authority showed that the total non-oil foreign trade rose by AED47.4bn in H1.

Exports grew by 40 percent in the first half of this year to reach AED77bn while imports grew by 12 percent to AED321.4bn.

The FCA said in a statement that re-exports hit AED100.5bn in the same period.

"This reflects the impressive growth seen in the national industry in different sectors, and the positive impacts of the policy of stimulus and encouragement of the national investments followed by the good leadership," the statement added.

The FCA said the Asia-Pacific region retained its place as the top non-oil foreign trade partner with a total trade of AED216bn - 44 percent of the total trade in the first half of this year.

Europe was the second largest trade partner with AED192.4bn followed by Middle East and North Africa with AED72.6bn.

The UAE's non-oil trade with other GCC countries hit AED46bn in the first half of 2012, with Saudi Arabia top of the list.

The statistics showed that gold was the biggest imported good with AED60bn, followed by diamonds (AED20.6bn), jewellery (AED19.5bn), cars (AED18.5bn) and mobile phones (AED5bn).

Gold was also the top among exported good, the FCA added.