The UAE’s non-oil trade volume reached AED 784 billion ($213 billion) between January and June 2017, according to preliminary data compiled by the Federal Customs Authority (FCA).

“The non-oil trade activity reflects an improvement in the UAE trade balance with many world countries and assures the confidence of traders and investors in the UAE economy,” said FCA head Ali Al Kaabi.

According to the statistics, direct non-oil foreign trade formed 68 percent of the total volume of general trade, valued at AED 535.5 billion ($145 billion). Free-zone trade accounted for 32 percent of the total, valued at AED 248.6 billion ($67 billion).

The FCA data also shows that the share of imports of the UAE’s total non-oil general trade amounted to AED 477.8 billion ($129 billion) in the first six months of 2017.

Native and semi-processed gold accounted for 14 percent of the total imported goods, representing a total value of AED 68 million, which was followed by mobile phones (9 percent), motor vehicles (6 percent), and non-composite diamonds (5 percent).

Additionally, the FCA stated that exports reached AED 89.1 billion during the first six months of 2017, with gold constituting 29 percent of the total. Re-exports amounted to AED 217.2 billion, of which mobile phones made up 16 percent and non-composite diamonds 12 percent.

Asia, Australia and the Pacific region made up 43 percent of the UAE’s total non-oil trade, followed by the Middle East (19 percent). More

Arabian Business

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