64131
UAE Says Non-Oil Trade Rose in 2016
UAE Says Non-Oil Trade Rose in 2016

UAE Says Non-Oil Trade Rose in 2016

UAE Says Non-Oil Trade Rose in 2016

The UAE’s non-oil trade increased by 1% in 2016 to reach Dh1.6 trillion ($44 billion) compared to a year earlier despite economic challenges, the federal customs authority said. Non-oil general trade volume (direct trade and free zones) also went up from Dh1.556 billion in 2015 to Dh1.564 billion last year, FCA said, Arabian Business reported. Imports value grew by 2% during 2016 to reach Dh969 billion against Dh952.3 billion in the previous year and exports grew by 5% to Dh195 billion in
2016 against Dh185.4 billion in 2015. The re-exports stood at Dh400.4 billion.

In terms of trading partners, Asia & Pacific region topped the list with 42% of the total trade volume amounting to Dh624.7 billion, FCA said. Europe region followed with Dh339.6 billion (23% of the total trade), North Africa and Middle East with Dh275.5 billion (19%), America & Caribbean with Dh147 billion (10%).

The six (Persian) Gulf Cooperation Council countries’ (Saudi Arabia, Kuwait, the UAE, Qatar, Bahrain and Oman) share in the total trade increased to 11% of the total trade volume with figures touching Dh166.7 billion in 2016. Saudi Arabia ranked first among (P)GCC countries with trade volume of Dh71.6 billion followed by Oman with a value of Dh31.9 billion, Kuwait with Dh25.8 billion, Qatar’s trade reaching Dh21.3 billion, and Bahrain’s share equaling Dh16 billion.

FCA data also showed that trade with Arab countries reached Dh281.2 billion by the end of 2016, out of which Dh87.7 billion is imports and Dh63 billion is exports. Re-exports amounted to Dh130.5 billion. With regard to commodities imported
last year, manufactured and semimanufactured gold dominated the list followed by phone cells, cars, diamond among others. In the non-oil exports, raw gold topped the list followed by jewelry, precious metals and raw aluminum. Cell phones came at the top of re-exported commodities during 2016.

Short URL : https://goo.gl/JchVMr
  1. https://goo.gl/cdOpgR
  • https://goo.gl/uNCZbx
  • https://goo.gl/3AhHDp
  • https://goo.gl/I0IBBE
  • https://goo.gl/Jst4Ve

You can also read ...

Fed Says Rate Hike Soon
US central bankers say it will “soon” be time to raise the key...
BNP Paribas Fined
New York state bank regulators fined BNP Paribas $350 million...
Greece Debt Talks Still Fraught
Critical talks on easing Greece’s massive debt burden remain...
As population growth slows, the number of workers paying for the pensions of those in retirement will fall from eight workers today to four per retiree in 2050, putting pressure on the public purse.
The world's biggest economies are sitting on a $70 trillion...
The Geneva-based WMO is working with organizations such as the World Bank to roll out the early warning systems, with Morocco among countries being used as a benchmark.
Opening a major United Nations conference on risk reduction in...
G7 Leaders Brace for Clash With Trump
World leaders braced for contentious talks Friday with President...
Strong Exports Show Spanish GDP Rosier
Spain’s economy picked up steam in the first three months of the...
Turkey Economic Confidence at 2-Year High
Economic confidence in Turkey is at its highest since the end of...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus