FINANCIAL NEWS

UAE non-oil trade grows 7% by April-end

30 Jun 2010

(MENAFN) Preliminary figures issued by the UAE Federal Customs Authority (FCA) showed that the country?s non-oil foreign trade grew by 7 percent by the end of April 2010 to $15.4 billion as compared to $14.2 billion a year earlier, Gulf News reported.

According to the report, non-oil exports saw a 42 percent rise to $1.76 billion in April 2010 from $1.24 billion in same month last year. Re-exports surged 12 percent to $3.35 billion from $2.98 billion while imports rose slightly by 1 percent to $10.2 billion from $10 billion for the same period under review.

As for the geographical distribution of the country?s non-oil foreign trade during the research period, the department said that India, USA, China, Japan, Germany, UK, Italy, Saudi Arabia, Turkey and South Korea respectively topped the list of exporting countries with 62 percent of the UAE’s total imports.

On the list of importers, the key players were India, Switzerland, Saudi Arabia, Oman, Iraq, Iran, Qatar, Kuwait, Iran and Yemen at a value of $1.3 billion representing 74 percent of the total for the same period.

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