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Sat 12 Jun 2010 09:06 AM

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UAE trade surplus set to rise 15% in 2010 - official

Non-oil exports in 2010 set to jump 23% from 2009 - foreign trade ministry.

The UAE's trade surplus for 2010 is expected to rise 15 percent from 2009, a foreign trade official said on Friday.

The country's surplus stood at $16.1 billion last year.

Abdulla Al Saleh, director general at the Ministry of Foreign Trade, said non-oil exports in 2010 were set to jump 23 percent from 2009 and re-exports were forecast to rise 13 percent. UAE exports and re-exports totalled $209.6 billion last year.

"The exports include gold, diamonds, petrochemicals, aluminium and steel," he told Reuters on the sidelines of a Turkish-Arab economic forum in Istanbul.

Imports were set to rise between 7 percent and 10 percent, Saleh said, adding these included the import of machinery, agricultural products and cars.

UAE imports stood at $193.5 billion in 2009.

Saleh said the figures were based on first-quarter performance. The UAE's trade surplus in 2009 narrowed as imports and exports both fell from 2008 as a result of the global financial crisis. (Reuters)

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