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FINANCIAL NEWS
UAE Q1 non-oil trade grows to USD64.9b
30 Sep 2012
(MENAFN) The UAE’s Federal Customs Authority announced that in the first quarter, the country’s non-oil trade rose by 2.3 percent from a year ago, reaching USD64.9 billion, reported Arabian Business.
UAE exports jumped 38 percent to USD9.33 billion from USD6.75 billion in last year’s same quarter, whereas imports grew 6 percent from USD40 billion to USD42.54 billion.
The country’s main exports were gold, which contributed with USD4.79 billion to total trade, followed by polyethylene and propylene polymers in crude forms, accounting for USD1.03 billion.
The country’s re-exports consisted mainly of diamonds, at USD3.26 billion, followed by jewels at USD979 million and phones at USD925 million.
It is worth noting that the UAE’s biggest trade partner was the Asia-Pacific region, accounting for 47 percent of total foreign trade, followed by Europe, with 25 percent, the Middle East and North Africa with 13 percent; America and the Caribbean with 9 percent; Central and Western Africa with 2.9 percent; and Eastern and Southern Africa with 2.7 percent.
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