UAE’s General Trade Volume in H1of 2012 grows 11.1% to AED 718.4 billion

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Aerial view of Abu Dhabi, the capital city of the UAE. Photo – Faisal Saeed Dama

Preliminary statistical data of FCA confirmed that the UAE’s general trade volume (total volume of UAE non-oil foreign trade and trade of free zones) in the first half of 2012 recorded a 11.1% increase by Dhs71.7bn from Dhs646.7bn to Dhs718.4bn year on year.

The Federal Customs Authority (FCA) said that imports accounted for Dhs449.4bn of UAE total trade, while exports and re-exports represented Dhs85.8bn and Dhs183.2bn, respectively.
The FCA said in a press statement yesterday that the total value of UAE non-oil foreign trade (the first contributor to the state’s general trade volume) rose to Dhs499bn in the first half of 2012, while the total FZ trade (the second contributor) increased to Dhs219.5bn in the same period.The total value of FZ trade increased by 21% year-on-year to Dhs219.5bn in the first half of 2012, from Dhs181.6bn.”FZ imports jumped by 19% from Dhs 108bn to Dhs 128bn in the first half of 2012. Exports hiked 74% from Dhs 5bn to Dhs 8.7bn. Re-exports for free zones climbed 21% from Dhs 68.6bn to Dhs 82.8bon,” FCA stated.

In terms of weight, the volume of markets and FZ trade in the first half of 2012 reached about 13 million tons, including 8.4 million tons of imports, 1.1 million tons of exports and 3.6 million tons of re-exports.

The Asia-Pacific countries came on top of the UAE‘s trade partners with respect to the FZ trade volume in the first half of 2012. This region contributed 44%, or Dhs90.3bn of the total FZ trade volume, FCA added.

“The MENA region ranked second, representing 26%, or Dhs52.9bn of the free zones’ volume, followed by Europe (18%, or Dhs36.6bn), the Caribbean region (8%, recording Dhs15.7bn), East and South Africa region (3%, representing Dhs6.3bn) and West and Central Africa region (2%, or Dhs3.4bn).

The total FZ trade volume with the GCC countries significantly increased in terms of re-exports, compared to imports, which in turn reflects that the GCC countries represent one of the major export destinations to the UAE‘s free zones.

The total FZ trade volume with the GCC countries in terms of value hit Dhs29.4bn in the first half of 2012 – with Dhs4.3nn imports, Dhs24.1bn re-exports and Dhs947m exports.

Saudi Arabia took the first spot among GCC region’s trading partners with a total value of Dhs18.2bn, or 62% of total trade. Kuwait came second (Dhs4.9bn, or 17%), followed by Qatar (Dhs3.2bn, or 11%), Oman (Dhs1.7bn, or 6%) and Bahrain (Dhs1.4bn, or 5%).

FCA also pointed out that the total foreign trade volume of the UAE with the Arab countries in terms of value rose remarkably in terms of re-exports, amounting to Dhs53.6bn in the first half of 2012 out of which Dhs5.1bn representing imports with Dhs3bn worth of exports, while re-exports from the free zones in the State to those countries amounted to Dhs45.6bn.

FCA confirmed that telephone sets took the first position among imports, with a value of Dhs17.9bn. It was followed by petroleum oils and processed mineral oils with Dhs12bn, then data processing devices, magnetic and optical readers (Dhs9,8bn), gold (Dhs7.7bn), cars (Dhs4.5bn), and diamond (Dhs3.5bn).

Petroleum oils and processed mineral oils also took the first rank in the exports list with Dhs1.5bn. Cigar and cigarettes ranked second with Dhs1.4bn. It was followed by Light-vessels, fire-floats, dredgers, floating cranes, and other vessels the navigability Dhs328.7m, diamond (Dhs280.7m), structures and parts of structures (bridges, parts of bridges, gates, dams, towers, etc.) Dhs264.4m, and cars (Dhs236.5m).

On the level of re-exports, telephone sets came first with a total value Dhs19.4bn, followed by petroleum oils and processed mineral oils with Dhs9.3bn, data processing devices, magnetic and optical readers (Dhs6.8bn), gold (Dhs4.8bn), diamond (Dhs2.7bn), and monitors and projectors (Dhs2.4bn).

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