Media ININ Economy We Trust
Media In – Abu Dhabi – 27 January 2019
The UAE’s non-oil foreign trade achieved a remarkable 5% growth in re-exports during the first nine months of 2018 compared with the same period last year, reflecting the high competitive advantage of re-export activity in the UAE, In addition to enhancing its position as an incubator for investment and capital attraction, according to the preliminary statistical data of the Federal Customs Authority.
The volume of non-oil trade in the UAE (direct trade, trade in free zones and customs warehouses) reached AED 1.2 trillion during the first nine months of 2018. Non-oil foreign trade accounted for 62% Of the total non-oil foreign trade volume of 726.4 billion dirhams, while the non-oil foreign trade share of the free zones in the country amounted to 37% with a value of 439.2 billion dirhams, and the customs warehouses by 2%, equivalent to 8.4 billion dirhams.
“The country’s non-oil foreign trade continues to grow and stabilize despite the slowdown in many international markets as oil prices decline and growth rates are limited in major economies,” said Ali Saeed Al Niyadi, customs commissioner. Wise leadership in the field of economic diversification policy, building a strong national productive base, transforming the business environment into an attractive and stimulating environment for national and foreign capital, which contributed to the continued leadership of the UAE as a regional trading center.
The value of non-oil imports during the first nine months of 2018 amounted to 697.2 billion dirhams, noting that the imports of raw and semi-processed gold came at the forefront of the best imported goods worth 83.4 billion dirhams equivalent to 12% of the total value of imports Followed by AED 54.1 billion worth of mobile phones, followed by car imports valued at AED 42.3 billion (6%), gold jewelry and jewelery (AED 38 billion) equivalent to 5.5%, oil oils (36.4% Billion dirhams by 5.2% of the total imports of the state.
The value of UAE exports reached AED 134.7 billion during the first nine months of the year. Gold exports topped AED 30.2 billion, equivalent to 22% of the total UAE exports during the period, followed by raw aluminum worth 13 billion dirhams 10%, followed by cigarettes worth AED 8.6 billion (6.4%), jewelry and jewelery (AED 8 billion) at 6%, and ethylene polymers (6.2%).
