Dubai: The UAE has been classified as the world’s 20th biggest exporter in merchandise trade surpassing countries such as Australia, Brazil, Switzerland and Sweden, according to the World Trade Organisation secretariat for 2011.
The UAE exported $285 billion (Dh1 trillion) in merchandise trade, next to India which took the position 19th with exports of $297 billion, according to the WTO.
Moreover, the UAE constituted 1.6 per cent of the world’s exports which stood at $18.215 trillion of merchandise trade in 2011.
These figures were released on the sidelines of the announcement of the 27th International Autumn Trade Fair, the region’s pioneer consumer goods show, which will be held from December 11-13, 2012 at the Dubai International Convention and Exhibition Centre.
Satish Khanna, general manager of Al Fajer Information and Services, organiser of the show, said: “The same report says that the UAE is the world’s 25th importer in merchandise trade, having imported merchandise worth $205 billion in 2011 which represent 1.1 per cent of the world’s imports of $18.38 trillion.
“United States of America tops the list of importers with $2.265 trillion of imports in 2011. The UAE was ahead of countries like Austria, Malaysia and Sweden in import value, which speaks volumes on the leading position of the country in the global trade in both imports and exports.”
According to latest report of the National Bureau of Statistics the total value of UAE’s foreign trade in the first half of 2012 touched Dh499 billion as the national exports amounted to Dh77 billion in the same period.
Irfan Al Hassani, UAE based economist remarked that this is the result of the sound trade policies and strong economic strategy that the UAE developed.
“The UAE has succeeded in making its market as a main business hub in the region and a gateway for several markets world wide.”
Following to the economic turmoil, the UAE is showing a remarkable growth and is expected to grow further.
Khanna added: “Considering the remarkable role played by the UAE in the global trade, we anticipate great success for the 27th International Autumn Trade Fair, which is regarded the leading regional buyer-seller meeting ground for the consumer goods segment in the Arab region.”
“The show will feature 400 exhibitors from 20 countries. Ranked as one of the more popular general trade fairs in the region, IATF 2012 will occupy 8,000 square meters of space.”