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FINANCIAL NEWS
UAE free zone trade value hits USD73.38b
07 Jan 2015
(MENAFN) According to the United Arab Emirates’ Federal Customs Authority (FCA), the country’s total non-oil trade increased to USD216.20 billion during the January-June period of 2014, while the total direct non-oil trade has reached USD142.82 billion and the total free zone trade amounted to USD73.38 billion, Saudi Gazette reported.
The FCA data also showed that the total free zone trade in the UAE has increased in terms of value by 7 percent during the first half of 2014 in comparison with USD68.29 billion in the first half of 2013.
During the first six months of 2014, the share of imports of the total free zone trade reached USD41.37 billion compared to USD37.45 billion in the first half of the previous year, an increase of 10 percent, while the value of exports amounted to USD3.07 billion, and the value of re-exports amounted to USD28.93 billion, thus increasing by 5 percent from the same period in 2013.
The Kingdom of Saudi Arabia came in first place among the GCC countries in terms of the free zone trade value with USD5.71 billion, representing 60 percent of the total free zone trade with the GCC countries, followed by Kuwait which had 16 percent, then Qatar with with 13 percent, Bahrain 7 percent and, finally, the Sultanate of Oman with 4 percent of the total free zone trade with GCC countries.
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