UAE non-oil foreign trade registers 23% growth in 2011

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A view of Dubai World port, one of the world's largest and busiest ports. Photo - Samantha Appleton/Noor/CNN

Figures released by the top UAE statistics bureau said non-oil foreign trade grew 23% to AED 927.6 billion ($252.55bn) from AED 754.4 billion ($205.39bn) in 2010.

The National Bureau of Statistics (NBS) report noted imports surged to AED 602.8bn ($164.12bn) in 2011 from AED 485.4bn ($132.5bn) in 2010, registering an increase of 24.2%. Exports, on the other hand, witnessed a growth of 37.2% from AED 83.1bn ($22.6bn) in 2010 to AED 114bn ($31.04bn) in 2011. Re-exports soared 13.4% to AED 210.8bn ($57.39bn) in 2011 from AED 185.9bn ($50.61bn) in 2010.

In terms of imports, India emerged as the top supplier with a share of 17.1%. China and US took the second and third position at 10.3% and 8.5% respectively, state-run WAM news agency reported.

India also stood as the first market of non-oil exports to the UAE, accounting for 33.7%, followed by Switzerland (16.2%) and Saudi Arabia (5.4%).

India also remained the top market for UAE’s re-exports taking 28.1% of total re-export goods and commodities. Iran and Iraq came second and third at 17% and 8.2% respectively.

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