UAE’s non-oil trade reached Dh1.6tr in 2016

Abu Dhabi: The UAE’s non-oil trade increased by 1 per cent in 2016 to reach Dh1.6 trillion compared to a year earlier despite economic challenges, Federal Customs Authority (FCA) said on Sunday.

Non-oil general trade volume (direct trade and free zones) also went up from Dh1.556 billion in 2015 to Dh1.564 billion last year, FCA said.

Imports value grew by 2 per cent during 2016 to reach Dh969 billion against Dh952.3 billion in the previous year and exports grew by 5 per cent to Dh195 billion in 2016 against Dh185.4 billion in 2015. The re-exports stood at Dh400.4 billion.

In terms of trading partners, Asia & Pacific region topped the list with 42 per cent of the total trade volume amounting to Dh624.7 billion, FCA said. Europe region followed with Dh339.6 billion (23 per cent of the total trade), North Africa and Middle East with Dh275.5 billion (19 per cent), America & Caribbean with Dh147 billion (10 per cent).

The GCC (Gulf Cooperation Council) countries’ share in the total trade increased to 11 per cent of the total trade volume with figures touching Dh166.7 billion in 2016, according to FCA estimates. Saudi Arabia ranked first among GCC countries with trade volume of Dh71.6 billion followed by Oman with a value of Dh31.9 billion, Kuwait with Dh25.8 billion, Qatar’s trade reaching Dh21.3 billion, and Bahrain’s share equalling Dh16 billion.

FCA data also showed that trade with Arab countries reached Dh281.2 billion by the end of 2016, out of which Dh87.7 billion is imports and Dh63 billion is exports. Re-exports amounted to Dh130.5 billion.

Top of the list

With regard to commodities imported last year, manufactured and semi-manufactured gold dominated the list followed by phone cells, cars, diamond among others. In the non-oil exports, raw gold topped the list followed by jewellery, precious metals and raw aluminium. Phone cells came at the top of re-exported commodities during 2016.

Ali Al Kaabi, chairman of FCA said in a statement said that the primary statistics of the UAE general non-oil trade volumes are important economic indicators of the economy’s well-being and increase of competitiveness of national products in the world markets.

“UAE trade volume and the wide Patch of Trade Partners emphasises the importance of UAE as regional trade gateway. Exports growth with rate greater then Imports growth rate, reflects the gradual improvement in trade balance of UAE with the world.”