UAE Non-Oil Total Foreign Trade volume Recorded AED 1.56 Trillion in 2015

The UAE non-oil total foreign trade volume of 2015 reached approximately AED 1.56 trillion, with the direct trade data, representing 68% of the UAE total trade volume with the value of AED 1.06 trillion and the Free Zone Trade data, representing 32% of the UAE total trade volume with the value of AED 497 billion.

Commissioner Ali Al Kaabi, Head of the Federal Customs Authority, FCA, said in a press statement today, that the total non-oil trade of the state in the past year has seen a remarkable stability due to the economic diversification and declining oil sector's contribution to GDP in favor of the productive and service sectors. He also confirmed that the statistics of the foreign non-oil trade of the state reflects the confidence of traders in the global markets and trading partners in the economic climate. This reaffirms the strength of the UAE economy and its ability to meet the challenges and implications of various financial and economic crises that are impacting the economies of other trading partners, such as China, which is experiencing a marked slowdown in growth rates.

He pointed that the statistical data for the non-oil trade of the state revealed a significant increase in terms of exports to the outside world. Reaching an increase of 17% over the past year which reflects the quality of the industry and its local products. Consequently, changing the preference of many traders and investors to local products instead of import products (in terms of products), in addition to, increasing international confidence in UAE local products and proving it to have high competitive advantage in many global markets.

The FCA data indicated that the share of imports of the UAE total foreign trade amounted to AED 952.3 billion during 2015.

The native gold and semi-processed gold come on top of the imported goods during the previous year, recording AED 96 billion with a share value of 10% of the total imports.

Mobile phones came in the second place on the list of imports with a value of AED 94 billion at 9.8%, Vehicles with a value of AED 58 billion, i.e. 6%, followed by non-composite diamond recording AED 45.5 billion with 5% then ornaments, jewelry and precious metals with a value of AED 32 billion with 3%, of the total non-oil imports during 2015.

The FCA stated that the UAE export reached AED 185.4; billion Gold export came on top at a value of AED 55.4 billion, representing 30% of the UAE total non-oil exports, followed by ornaments and jewelry with a value of AED 19 billion, i.e. 10%, the raw aluminum with a value of AED 17 billion with 9%, then Cigarettes with a value of AED 7 billion forming 4%, and finally ethylene polymers in primary forms with a value of AED 6.4 billion representing 3% of the UAE total exports during 2015.

For The UAE Re-export the value reached AED 418.7 billion; The FCA data indicated that the mobile phones came first as the best re-exported commodity during the previous year at a value of AED 76.3 billion representing 18% of the total re-exports, followed by non-composite diamond with AED 48.5 billion with 12%, Vehicles with a value of AED 30 billion at 7%, then ornaments and jewelry with a value of AED 25.4 billion with 6%, and Automatic data processing machines with a value of AED 19.3 billion forming 5% of the total re-exports during the said period.

The UAE total non-oil trade volume reaches in terms of weight during 2015 approximately 213 million tons, 93.7 million tons of which were imports, and 101.8 million tons of exports, and 17.6 million tons of re-exports.

With regard to the UAE trading partners map in the field of non-oil trade, the FCA pointed out, in its statement, that the regional structure of the UAE trading partners in the field of non-oil trade was stable in terms of regions shares during 2015, as Asia, Australia and the Pacific region maintained the first rank on top of the non-oil trade partners with a share of AED 646 billion equivalent to 44% of the UAE total non-oil trade.

The European region came second in the list of the UAE trading partners with a share of AED 328 billion representing 22% of the total, followed by the Middle East and North Africa Region with AED 289 billion with 19%, and the American and Caribbean Region with AED 134 billion with 9% of the total, and Eastern and Southern Africa with AED 43.5 billion at 2.9%, and finally the West and Central Africa with AED 42.5 billion, representing 2.8% of the UAE total non-oil trade during the said period.

With regard to the UAE non-oil trade with the GCC countries, the FCA stated that the share of the UAE non-oil trade with the GCC countries during 2015 reached 11% of the total non-oil trade with the world, amounting to AED 179 billion.

The Kingdom of Saudi Arabia came on top of the Gulf countries in terms of the value of the UAE non-oil trade with a value of AED 84 billion with 47% of the total non-oil trade with the GCC countries, followed by Sultanate of Oman with a value of AED 30 billion with 17%, Kuwait with AED 26 billion at 15%, Qatar with AED 23 billion with 13 %, and finally the Kingdom of Bahrain with a value of AED 16 billion representing 9% of the total non-oil trade with the GCC countries.

In terms of trade with the Arab countries during 2015, the FCA data showed that the UAE total non-oil trade with the Arab states constitutes 19% of total non-oil trade of the country with the world, with a value of AED 294.2 billion.

According to the FCA, the total imports to the UAE from the Arab countries amounted to AED 64.3 billion during 2015, i.e. 7% of the total of imports. The Kingdom of Saudi Arabia came on top of five Arab countries exporting to UAE with a value of AED 19.5 billion with 30% of the UAE total Import trade with the Arab countries, followed by Sultanate of Oman, with AED 7 billion with 10%, Sudan the with AED 5.2 billion i.e. 8%, Kuwait with AED 5.1 billion, i.e. 8%, then Libya with AED 5 billion with 7.8% of the UAE total Import trade with the Arab countries.

The UAE non-oil exports to the Arab markets during 2015 amounted to 38% of the UAE total exports recording approximately AED 70.5 billion. The Kingdom of Saudi Arabia came on top of five Arab countries importing from the UAE with AED 17 billion dirhams, i.e. 24% of the UAE total non-exports to the Arab countries, followed by Sultanate of Oman, with a value of AED 11 billion with 16%, Iraq with AED 10.7 billion at 15%, Kuwait with AED 6.8 billion, i.e. 10%, and finally Qatar in 5th place with AED 5.9 billion constituting 9% of the total non-oil exports of the UAE to the Arab countries.

The FCA indicated that the re-exported goods from the UAE to the Arab countries during 2015, reached 38% of the UAE total re-exports, i.e. a value of AED 159.4 billion. Kingdom of Saudi Arabia was ranked in the first place among the top five Arab countries to which the UAE has re-exported goods with a value of AED 47.4 billion forming 30% of the total re-exports to the Arab countries, followed by Iraq with AED 34.3 billion i.e. 22%, then Kuwait with a value of AED 14 billion, at 9%, Qatar with AED 12.8 billion with 8%, and finally Sultanate of Oman with AED 12.3 billion representing 8% of the total re-exports to the Arab countries.

Source:WAM