| MAJOR RE-EXPORTING COUNTRIES Value & Growth | ||
| Re-exports $ billion | Growth (2000 - 2001) | |
| Hong Kong | 170.8 | -5% |
| Singapore | 55.6 | -6% |
| U.A.E | 7.6 | 26% |
| Source: WTO & U.A.E Trade Statistics | ||
"If oil exports are to be excluded from the trade developments, trade in the Middle East region expanded in the face of decline in most of the rest of the world," said the report quoting WTO statistics.
"As international trade has expanded with globalisation, re-export trade has grown alongside. Imports of the entire region increased by four per cent, with the UAE and Saudi Arabia registering strong increases of 9 per cent and 22 per cent respectively according to WTO estimates for 2001.
"The UAE is the world's third largest re-export centre - after Hong Kong and Singapore - and developments in international trade are of considerable significance to this economy."
After almost two decades of uninterrupted growth, global merchandise trade registered its first negative growth in almost two decades in 2001 (the last year of negative trade growth was in 1982).
| WORLD MERCHANDISE TRADE (EXPORTS), 1990-2001 | |||||
| Value ($ billion) | Share % | Growth | |||
| (1990) | 2001 | 1990-2001 | 2001 | ||
| Food | 437 | (9.3) | 7.3 | 3 | 1 |
| Raw materials | 110 | (2.9) | 1.8 | 1 | -9 |
| Ores | 63 | (1.6) | 1.1 | 2 | -1 |
| Fuels | 616 | (10.7) | 10.3 | 5 | -8 |
| Non-ferrous metals | 111 | (2.1) | 1.9 | 4 | -9 |
| Iron & steel | 130 | (3.1) | 2.2 | 2 | -8 |
| Chemicals | 595 | (8.7) | 9.9 | 7 | 2 |
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