UAE’s non-oil trade reaches Dh534b in H1

Figure marks 2% increase over same period last year

30 November 2015

The UAE’s non-oil direct trade reached Dh534.1 billion in the first half of 2015, marking a two per cent year-on-year increase from the Dh521.8 billion recorded in the same six months in 2014.

According to a statement issued by the Federal Customs Authority (FCA) on Monday, non-oil imports reached Dh337.6 billion during the first half of this year — a one per cent drop from the Dh340.6 billion recorded in the same period last year.

However, non-oil exports from the UAE jumped 28 per cent, reaching Dh81.4 billion, with gold exports topping the list at a value of Dh28.7 billion — a 35 per cent increase.

Native gold and processed gold also topped the list of imported goods in H1 2015, recording Dh50.7 billion in trade value — representing 15 per cent of the total non-oil imports.

Vehicles came in second place with a value of Dh24.8 billion (7.3 per cent of all imports), followed by non-composite diamond, mobile phones, and ornaments and jewellery.

Revenues from re-exports dropped two per cent to reach Dh115.2 billion in H1 2015.

FCA said that the UAE’s direct non-oil trade remained considerably stable despite tougher economic conditions witnessed by many countries around the world.

Commissioner Ali Al Kaabi, head of FCA, said that such economic conditions include slower growth in various advanced and emerging economies especially China, which tops the list of UAE’s trade partners.

Trade partners

The geographical nature of the UAE’s trade partners in non-oil sectors was stable, as Asia, Australia, and the Pacific region remained on top of the list of partners with a share of Dh218.3 billion of the UAE’s total non-oil trade (equivalent to 42 per cent).

Europe came second in the list of the UAE’s trade partners with a share of Dh129.2 billion (25 per cent), followed by the Middle East and North Africa region with Dh88.9 billion (17 per cent). Meanwhile, the American and Caribbean region accounted for Dh49.5 billion worth of trade (10 per cent).

As for trade with GCC countries, FCA’s data showed that the share of the UAE’s non-oil trade with the GCC countries in the first half 2015 reached 10 per cent of the total non-oil trade with the world (equivalent to Dh53 billion).

Saudi Arabia topped the Gulf countries in terms of trade value with the UAE in non-oil fields, with a value of Dh21.2 billion (40 per cent of the total non-oil trade with GCC countries).

The kingdom was followed by Oman with a value of Dh12.3 billion (23 per cent), Qatar with Dh7.6 billion (14 per cent), Kuwait with Dh7 billion (13 per cent), and Bahrain with Dh5 billion (nine per cent of non-oil trade with GCC countries).