UAE’s non-oil trade reaches AED269.5bn in Q1

Abu Dhabi / WAM

The UAE’s direct non-oil trade recorded AED 269.5 billion during the first quarter of 2016, maintaining almost the same figures achieved in Q1 last year, said the Federal Customs Authority (FCA).
FCA said its preliminary statistics show that imports, AED 166.1 billion, accounted for more than half of the UAE non-oil foreign trade during Q1 this year, while exports recorded AED 46.8 billion and re-exports AED 56.6 billion in the same period.
The FCA, in a press release, said the UAE non-oil foreign trade during Q1 showed remarkable stability compared with same period last year, despite slowing global economic growth rates and declining imports and exports in several UAE key strategic partner countries because of the global oil price crisis that hit global economy last year.
The UAE’s wise policy of economic diversification and building sustainable national industries helped save the UAE status as a world trade hub, and the trade gateway to the near and middle east and north Africa, Commissioner Ali Al Kaabi, the FCA chairman said.
Trade and customs logistics offered at UAE ports and land, air and marine posts, outperforming many regional and world counterparts, helped attract trade and keep foreign trade stable, Al Kaabi added.
He also pointed out that the UAE rose to 13th international position and 1st ME position on 2016 Logistics Performance Index published recently in the World Bank report. Thus, the UAE came among the world’s leading countries in logistics, ahead of Canada, Finland, France, Denmark, Australia, China, South Korea, and all MENA countries.
The FCA head also explained that local customs department implemented in recent years national strategies that aligned with the UAE 2021 Vision. This contributed to enhancing customs performance, boosting infrastructure at customs posts, and enhanced shipping timeliness and security. All this culminated in enhancing UAE position in the world trade scene.
In terms of weight, the UAE total non-oil trade in Q1 2016 recorded 48.4 million tonnes: 18 million tonnes of imports, 28.2 million tonnes of exports and 2.2 million tonnes of
re-exports.
In its statement, the FCA indicated that the list of UAE non-oil trade partners remained stable, region-wise, during Q1 2016 as regions retained their respective shares of total trade despite slowing growth rates in several key countries.
Asia, Australia and the Pacific maintained top rank among UAE non-oil trade partners with a share of AED 108.3 billion or 42% of UAE non-oil trade for Q1 this year.
With a share of AED 66.7 billion (25%), Europe ranked second. Next, came the MENA region with a share of AED 42.7 billion (16%), America and the Caribbean with a share of AED 27.4 billion (10%), West and Central Africa with a share of AED 9.4 billion (4%), and, last, East and South Africa with a share of AED 7.4 billion or 3% of UAE non-oil trade during Q1 this year.
Region-wise, 43% of UAE non-oil imports in Q1 2016 came from Asia, Australia and the Pacific with a value of AED 70 billion. Europe came second with a share of AED 43.8 billion (27%).
With a share of AED 23.3.7 billion (14% of UAE non-oil imports), America and the Caribbean ranked third. Next, came MENA with a share of AED 13.9 billion (9%), West and Central Africa with a share of AED 7.9 billion (5%), while East and South Africa came last with a share of AED 4.4 billion or 3% of UAE non-oil imports during Q1 this year.
For UAE non-oil exports during Q1 2016, the FCA announced that countries in the Asia, Australia and the Pacific region make the largest market for UAE non-oil exports. The share amounts to 35% (AED 16 billion) of the UAE non-oil exports.
The second rank saw MENA with a share of 30% (AED 13.9 billion). Next, came Europe with a share of 26% (AED 12.2 billion), America and the Caribbean with a share of 5% (AED 2.2 billion), East and South Africa with a share of 3% (AED 1.2 billion), and West and Central Africa with a share of 1% (AED 484m) of UAE total non-oil exports.
When it comes to re-exports, FCA statistics for Q1 2016 show that the Asia, Australia and the Pacific region was the UAE leading re-export trade partner with a share of 42% (AED 22.3 billion) of total re-exports, while MENA scored second with a share of 28% (AED 15 billion).
With a share of 20% (AED 10.8 billion) of exports, Europe ranked third. Next, came America and the Caribbean with a share of 4% (AED 1.9 billion), East and South Africa with a share of 3% (AED 1.7 billion), and West and Central Africa with a share of 2% (AED 1.1 billion) of total re-export during the reporting quarter.
FCA’s preliminary statistics also reveal that raw gold and manufactured gold ranked top among imports in Q1 2016 with a share of 15% (AED 24.5 billion) out of total non-oil imports.
With a share of AED 11.9 billion (7%), cars ranked second. Next, came imports of diamond, not mounted or set, with a share of AED 10.5 billion (6%), telephone handsets with a share of AED 9.1 billion (5%), and jewelry, and precious stones and metals with a share of AED 6.7 billion or 4% of total UAE non-oil imports.
The UAE non-oil exports Q1 2016 data show that gold ranked first with a share of AED 12.6 billion, accounting for 27% of the UAE non-oil exports. With a share of AED 7.9 billion (17%), raw aluminum ranked second. Next, came jewelry and precious stones with a share of AED 4.8 billion (10.3%), polymers of ethylene in primary forms with a share of AED 4.5 billion (9.6%), and publications with a share of AED 1.3 billion or 3% of UAE total non-oil exports during Q1 this year.
Diamond, not mounted or set, ranked top among re-exports in Q1 2016 with a share of AED 11.5 billion (20% of re-exports). With a share of AED 7.8 billion (14%) jewelry, including jewelry made of precious stones, ranked second. Next, came cars with a share of AED 4.1 billion (7.3%), telephone handsets with a share of AED 3.9 billion (7%), aircraft parts with a share of AED 1.4 billion or 3% of total re-exports in Q1 2016.
The UAE non-oil trade with GCC countries during Q1 2016 accounted for 9% (AED 24.2 billion) of the UAE non-oil world trade.
The Kingdom of Saudi Arabia was the UAE top GCC non-oil trade partner with a share of AED 8.7 billion, representing 35.7% of non-oil trade with GCC countries. Next, came Oman with a share of AED 6.4 billion (26.3%), Qatar with a share of AED 4.2 billion (17.5%), Bahrain with a share of AED 2.5 billion (10.2%) and Kuwait with a share of AED 2.4 billion or 10.1% of the UAE-GCC non-oil trade.
At the Arab level, FCA preliminary data show that total UAE non-oil trade with Arab countries during Q1 2016 accounted for 16% of the UAE non-oil world trade with an estimated value of AED 43.7 billion.