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Abu Dhabi / WAM
UAE General Trade volume keeps growing during first 9 months of 2017, despite the decline in growth rates of the global economy during the year 2017, according to the Federal Customs Authority (FCA).
The preliminary statistical data has revealed that UAE general trade volume during the period January to the end of September 2017 amounted to AED1.17 trillion, compared to AED1.16 trillion during the same period of 2016, with one percent growth.
In a press statement, Commissioner Ali Al Kaabi, Head of the FCA, said, that UAE non-oil foreign trade growth reflects the importance of the UAE’s position in the world trade exchange map, and its leadership as a regional trade centre. “The non-oil trade activity reflects an improvement in UAE trade balance with many world countries, and assure trader and investor confidence in the UAE economy,†he added.
UAE direct non-oil foreign trade formed 68 percent of total volume of general trade, at a value of AED800.6 billion. The share of free zone trade was 32 percent, AED371.5 billion. FCA data indicated that the share of imports of the UAE total non-oil general trade amounted to AED708.2 billion during the first nine months of 2017.
Native gold and semi-processed gold came on top of imported goods during the first nine months of 2017, recording AED98 billion with a share value of 14 percent of non-oil imports totals, followed by mobile phones with a value of AED66 billion at nine percent, and motor vehicles with AED37.5 billion or 5.3 percent during the said period.
The FCA stated that UAE exports reached AED139.1 billion, with gold exports coming in on top at a value of AED41.2 billion, representing 30 percent of total non-oil exports, followed by ornaments and jewelry with a value of AED13 billion or 9.3 percent, raw aluminum at AED12.8 billion (nine percent). Ethylene polymers – in primary forms – followed suit with a value of AED7 billion dirhams (five percent), and cigarettes and cigars with a value of AED6.5 billion, representing 4.7 percent of the UAE total non-oil exports during the period.