UAE non-oil foreign trade reaches 10.5%

The UAE non-oil foreign trade showed higher growth rate in the first half of this year, as it reached 10.5% compared to the same period in the last year. Initial statistics of the Federal Customs Authority (FCA) showed that the total non-oil foreign trade rose by AED47.4 billion to AED499 billion in the first half of this year compared to AED451.5 billion in the same period of last year, according to Emirates news agency (WAM). Exports achieved a significant growth by 40% in the first half of this year, the FCA said in a press release yesterday. The UAE non-oil exports increased by AED22 billion to hit AED77 billion compared to AED55 billion in the same period of the last year. The imports grew within the above period by 12%, raising the UAE non-oil imports by AED35.1 from AED286.3 billion to 321.4 billion in the period of comparison, while re-exports hit AED100.5 billion in the same period. The total of UAE non-oil foreign trade with the Gulf Council Countries (GCC) hit AED46 billion in the first half of this year, including AED19.3 billion in imports, AED11.8 billion in exports and AED14.8 billion in re-exports, the FCA said. The initial statistics in this period showed that gold came at the top of the imported goods with AED60 billion, followed by diamond with AED20.6 billion, jewelry with AED19.5 billion, cars with AED18.5 billion, and mobile phones with AED5 billion. Gold, was the top among exported goods in the period with AED41.4 billion. The total trade of markets and free zones, the FCA said, hit about AED8 billion for this period, including AED3.7 in imports, AED665 million in exports, and AED3.6 billion in re-exports.