UAE’s trade with Arab nations hit with unrest down 32%
03 Oct 2011
(MENAFN) UAE’s Ministry of Foreign Trade said that in the year’s first quarter, the country’s trade with Arab country’s hit with political upheaval dropped 32 percent from 2010’s last quarter to USD353 million, reported Gulf News.
The ministry added that the country’s total exports to the Arab region accounted for 8 perent of the exports volume, whereas re-exports accounted for 13 percent.
It also said that trade with Libya fell USD253.7 million, while trade wit Tunisia dropped by USD33 million, with Yemen went down by USD27.7 million, with Egypt it slipped by USD22.5 million and with Syria by USD5 million.
It is worth noting that UAE trade with emerging markets expanded which compensated the retreat in trade with Arab markets. The country’s trade grew to over 202 markets with the main focus on Asia where exports represented 47 percent of UAE’s total trade and imports represented 58 percent whereas re-exports accounted for 48 percent.