FINANCIAL NEWS

UAE- Non-oil trade grows 23% in 2011

03 Jul 2012

(MENAFN) The UAE’s National Bureau of Statistics (NBS) announced that the country’s non-oil foreign trade in 2011 jumped 23 percent from 2010’s USD205.33 billion to USD252.47 billion, reported Emirates 24/7.

During the period, exports surged 37.2 percent to USD31 billion from USD22.6 billion, whereas re-exports grew 13.4 percent from USD50.59 billion to USD57.37 billion, and imports increased 24.2 percent to USD164 billion, from USD132.11 billion.

The country’s non-oil exports went primarily to India, which accounted for 33.7 percent of the Gulf country’s exports, followed by Switzerland, with 16.2 percent and Saudi with 5.4 percent.

In terms of re-exports, India came also as the main destination, representing 28.1 percent of total re-exports, followed by Iran with 17 percent and Iraq with 8.2 percent.

It is worth noting that the UAE imported its goods mainly from Asian countries, with India ranking first, shipping 17.1 percent of UAE’s imports, followed by China with 10.3 percent and the US with 8.5 percent.

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