The value of UAE non-oil trade reached AED525 billion during first half of 2014

ABU DHABI: The preliminary statistics of the Federal Customs Authority, FCA, showed an increase in the UAE direct total foreign non-oil trade value, amounting to AED524.7 billion during the first half of 2014, of which imports amounted to AED340.1 billion, the exports to AED63.3 billion, and the re-exports to AED121.4 billion.

The FCA announced in a press statement yesterday that the UAE has continued to strengthen its pre-eminent position on the world trade map, and expand the role it plays in facilitating trade between countries during the first half of this year driven by the increase of activity in all economic sectors, and the improvement of the State’s competitiveness in many global indicators.

UAE direct total foreign non-oil trade reached 86.4 million tons during the first half of the year, 33.74 million tons of which were imports, 47.1 million tons were exports and 5.6 million tons were re-exports.

The FCA declared that the daily average of custom weight processed by the different customs ports in foreign non-oil trade items in terms of export, import and re-export amounted to about 360,000 tons per day, on the basis of official working hours (8 hours a day, five days a week), with an average of 45,000 tons per hour.

The FCA added that the State’s foreign non-oil trade was relatively growing more stable during the first half of the year.

The FCA confirmed that the UAE is keen to facilitate global trade and remove all the customs and non-customs obstacles facing the trade movement with other countries, contributing therefore to strengthening international bilateral relations, achieving the aspirations of the citizens and meeting the growing needs of consumers, while seeking to protect the community from unsound trade practices, and to maintain the economic interests of the business sector both locally and abroad.

The FCA stated that it adopts several initiatives aiming at achieving growth in the State’s foreign non-oil trade and facilitating trade, particularly developing customs procedures and policies, developing the electronic systems, reducing the customs clearance time, managing the customs clearance, providing statistical data and information, addressing the trade obstacles, conducting international studies about global best practices, providing customs training, and enhancing the competitiveness indicators in the customs’ work.

With regard to the UAE’s trading partners map in the field of direct foreign trade, the FCA noted in its press statement that the regional structure of the trading partners of the UAE in the field of non-oil trade was stable in terms of countries’ quotas, where Asia, Australia and the Pacific region maintained their position on the top of the list of the UAE’s non-oil trading partners with 42% of the total non-oil trade value, followed by the European region with 27%, the MENA region with 15%, America and the Caribbean with 9%, Central Africa with 4%, and finally East and South Africa with 3%.

Concerning imports at the regional level, the statistics showed that 42% of the UAE imports during the first half of 2014 came from Asia, Australia and the Pacific region, amounting to AED141.9 billion, followed by the European Region with 29% and a value of AED96.9 billion, America and the Caribbean region with 13% and a value of AED44.3 billion, the MENA region with 8% and a value of AED27.1 billion, the West and Central Africa region with 4% and a value of AED15 billion and finally the East and South Africa region with 3% and a value of AED9.3 billion of the total imports.

The FCA explained, in terms of the non-oil exports during the first half of this year, that the MENA region represents the first market for non-oil exports of the UAE, being at the top of the countries importing UAE goods with 37% and a value of AED23 billion of total UAE exports.

In second place come Asia, Australia and the Pacific region with 33% and a value of AED20.7 billion, followed by the European region with 23% and a value of AED14 billion, the East and South Africa region with 3% and a value of AED1.6 billion, then America and the Caribbean region with 2.3% and a value of AED1.5 billion, and finally West and Central Africa region with 1.7% and a value of AED1.1 billion of UAE total exports.

The FCA noted that concerning the re-export statistics for the first half of this year, Asia, Australia and the Pacific region came on top of the list of the most important trading partners in terms of re-export with 46% equivalent to AED53.4 billion of the UAE total non-oil re-exports, followed in second place by the European region with 23% and a value of AED26.6 billion, the MENA region with 22% and a value of AED25.3 billion, then the West and Central Africa region with 4% and a value of AED4.4 billion, the East and South Africa with 3% and a value of AED3.3 billion, and finally, America and the Caribbean region with 2% equivalent to AED2.7 billion of the UAE total non-oil re-exports.

In the field of non-oil trade with the Gulf Cooperation Council, GCC, countries, the FCA stated that the UAE direct foreign trade rate with the GCC countries during the first half of 2014 amounted to AED48.5 billion, i.e. 9% of the UAE’s total trade with the world. The Kingdom of Saudi Arabia came on top of the list of the Gulf states in terms of two-way trade value with the UAE, with 36% of the UAE non-oil trading with the GCC counties, i.e. AED17.4 billion, followed by the Sultanate of Oman, with 27% and a value of AED13.2 billion, then Kuwait with 15% i.e. AED7.2 billion, Qatar with 13% and a value of AED6.4 billion, and finally Bahrain with a value of AED4.3 billion, representing 9% of the total UAE non-oil trade with the GCC countries.

In terms of direct foreign trade with Arab countries, the FCA preliminary data showed that the State’s trade with Arab countries during the first half of the year accounted for 15% of the UAE’s total foreign non-oil trade with the world, valued at AED77.1 billion.

According to the FCA, the non-oil imports from Arab countries in the first half of 2014, amounted to 8% of the UAE total non-oil imports, equivalent to a value of AED27.4 billion. The Kingdom of Saudi Arabia came first among the top five Arab countries, exporting 27% of the total UAE trade with Arab countries, i.e. a value of AED7.5 billion, followed by Sudan, with15% and a value of AED4.1 billion, the Sultanate of Oman with 14% and a value of AED3.8 billion, Iraq with 8% and a value of AED2.1 billion, and finally Kuwait with a value of AED1.9 billion dirhams, representing 7% of the total UAE trade with Arab countries.

The UAE non-oil exports to the Arab markets in the first half of 2014 reached about 37% of the UAE’s total non-oil exports abroad, i.e. AED23.4 billion. The Kingdom of Saudi Arabia again came in first place among the top five Arab countries, importing national non-oil goods of a value of AED6.1 billion, i.e. 26% of the UAE’s total non-oil exports to the Arab countries, In the second place came Oman with a value of AED4.4 billion, equivalent to 19%, Kuwait with a value of AED2.9 billion, equivalent to 12%, Egypt with AED2 billion, i.e. 9%, and finally Iraq with a value of AED1.7 billion, representing 7% of the UAE’s total non-oil exports to the Arab countries.

The FCA indicated that goods re-exported from the UAE to Arab countries during the first half of this year represent 22% of the total re-exports of the UAE, amounting to AED26.4 billion. The Sultanate of Oman came in the first place among the top five Arab countries to which the UAE re-exports goods, with a value of AED5 billion, i.e. 19% of the UAE total re-exports to Arab countries. In second place came Iraq, with a value of AED4.9 billion, equivalent to 18%, KSA with a value of AED3.8 billion, i.e. 14%, Qatar with a value of AED3.2 billion, equivalent to 12%, and finally Kuwait with a value of AED2.5 billion, equivalent to 9% of the UAE total re-exports to the Arab countries.

Concerning the best goods handled during the first half of 2014, the FCA preliminary statistics revealed that native gold and semi-processed gold come on top of the best goods imported by the UAE with a percentage of 15%, equivalent to a value of AED51.3 billion of the UAE total imports, followed by vehicles with a value of AED24.6 billion, i.e. 7%, non-composite diamonds with a value of AED20.7 billion, i.e. 6%, ornaments and jewelry of precious metals with a value of AED16.3 billion, i.e. 5%, and mobile phones with a value of AED12.4 billion, representing 4% of the total imports.

According to the FCA data related to non-oil exports, native gold and semi-processed gold came in first place with a value of exports of AED19.9 billion, representing 32% of the total exports, followed by raw aluminum with a value of AED4.8 billion, equivalent to 8%, ornaments and jewelry made of precious metals with a value of AED3.2 billion, i.e. 5%, and ethylene polymers in primary forms with a percentage of 4.6% equivalent to AED2.9 billion. Exports of copper wire reached AED2.6 billion equivalent to 4% of UAE total non-oil exports during the first half of 2014.

Non-composite diamonds came on top of the best goods re-exported during the first half of 2014, with a value of AED24.1 billion, representing 20% of the total re-exports, followed by ornaments and jewelry made of precious metals with the value of AED19.7 billion, i.e. 16%, vehicles with a value of AED10.4 billion, i.e. 9%, mobile phones with a value of AED8.1 billion, i.e. 7%, and turbojet, propelled and gas turbines with a value of AED3.3 billion, representing 3% of the UAE’s total re-exports.

SOURCE: WAM