ABU DHABI: UAE General Trade volume keeps growing during the first 9 months of 2017, despite the decline in the growth rates of the global economy during the year 2017, according to the Federal Customs Authority, FCA.

The preliminary statistical data has revealed that UAE general trade volume during the period January to the end of September 2017 amounted to Dhs1.17 trillion, compared to Dhs1.16 trillion during the same period of 2016, with one per cent growth.

In a press statement, Commissioner Ali Al Kaabi, Head of the FCA, said, that UAE non-oil foreign trade growth reflects the importance of the UAE’s position in the world trade exchange map, and its leadership as a regional trade centre.

“The non-oil trade activity reflects an improvement in UAE trade balance with many world countries, and assure trader and investor confidence in the UAE economy,” he added.

UAE direct non-oil foreign trade formed 68 per cent of total volume of general trade, at a value of Dhs800.6 billion. The share of free zone trade was 32 per cent, Dhs371.5 billion.

FCA data indicated that the share of imports of the UAE total non-oil general trade amounted to Dhs708.2 billion during the first nine months of 2017.

Native gold and semi-processed gold came on top of imported goods during the first nine months of 2017, recording Dhs98 billion with a share value of 14 per cent of non-oil imports totals, followed by mobile phones with a value of Dhs66 billion at nine per cent, and motor vehicles with Dhs37.5 billion or 5.3 per cent during the said period.

The FCA stated that UAE exports reached Dhs139.1 billion, with gold exports coming in on top at a value of Dhs41.2 billion, representing 30 per cent of total non-oil exports, followed by ornaments and jewellery with a value of Dhs13 billion or 9.3 per cent, raw aluminium at Dhs12.8 billion (nine per cent). Ethylene polymers - in primary forms - followed suit with a value of Dhs7 billion (five per cent), and cigarettes and cigars with a value of Dhs6.5 billion, representing 4.7 per cent of the UAE total non-oil exports during the period.

FCA preliminary data indicated that re-exports value recorded Dhs325 billion during the first 9 months of 2017. Mobile Phones came first as the best re-exported commodity during the period at a value of Dhs56.6 billion representing 17 per cent of the total re-exports, then came non-composite diamond of Dhs38 billion (12 per cent), followed by motor vehicles with a value of Dhs28.6 billion (nine per cent), then, ornaments and jewellery with Dhs21.6 billion (seven per cent) of the total re-exports during the said period.

As for the UAE trading partners map, the FCA noted that the regional structure of the UAE trading partners in the field of non-oil general trade was stable in terms of regions shares during the first 9 months of 2017, so Asia, Australia and the Pacific region maintained the first rank on top of the non-oil trade partners with a share of Dhs470.4 billion equivalent to 42 per cent of the UAE’s total non-oil trade.

Europe came in second place with a share of Dhs244.3 billion representing 22 per cent of the total, followed by the Middle East and North Africa region with Dhs217 billion, or 20 per cent.

UAE non-oil trade with the GCC countries constituted 11 per cent of the total non-oil trade with the world, amounting to Dhs127 billion.

The Kingdom of Saudi Arabia came on top of the Gulf countries in terms of the value of the UAE non-oil trade with a value of Dhs58 billion (46 per cent) of the total non-oil trade with the GCC countries, followed by Oman at Dhs23.7 billion (19 per cent), and Kuwait with Dhs21.5 billion (17 per cent).

The FCA data showed that the UAE total non-oil trade with Arab states constitutes 19 per cent of total non-oil trade of the country with the world, with a value of Dhs221.2 billion.

WAM