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FCA said its preliminary statistics show that imports, Dh166.1 billion, accounted for more than half of the UAE non-oil foreign trade during Q1 this year, while exports recorded Dh46.8 billion and exports Dh56.6 billion in the same period.
The FCA, in a press release, said the UAE non-oil foreign trade during Q1 showed remarkable stability compared with same period last year, despite slowing global economic growth rates and declining imports and exports in several UAE key strategic partner countries because of the global oil price crisis that hit global economy last year.
The UAE's wise policy of economic diversification and building sustainable national industries helped save the UAE status as a world trade hub, and the trade gateway to the near and middle east and north Africa, Commissioner Ali Al Kaabi, the FCA chairman said.
Trade and customs logistics offered at UAE ports and land, air and marine posts, outperforming many regional and world counterparts, helped attract trade and keep foreign trade stable, Al Kaabi added.
He also pointed out that the UAE rose to 13th international position and 1st ME position on 2016 Logistics Performance Index published recently in the World Bank report.
Thus, the UAE came among the world’s leading countries in logistics, ahead of Canada, Finland, France, Denmark, Australia, China, South Korea, and all MENA countries.
The FCA head also explained that local customs department implemented in recent years national strategies that aligned with the UAE 2021 Vision. This contributed to enhancing customs performance, boosting infrastructure at customs posts, and enhanced shipping timeliness and security. All this culminated in enhancing UAE position in the world trade scene.
In terms of weight, the UAE total non-oil trade in Q1 2016 recorded 48.4 million tonnes: 18 million tonnes of imports, 28.2 million tonnes of exports and 2.2 million tonnes of re-exports.
In its statement, the FCA indicated that the list of UAE non-oil trade partners remained stable, region-wise, during Q1 2016 as regions retained their respective shares of total trade despite slowing growth rates in several key countries.
Asia, Australia and the Pacific maintained top rank among UAE non-oil trade partners with a share of Dh108.3 billion or 42% of UAE non-oil trade for Q1 this year.
With a share of Dh66.7 billion (25%), Europe ranked second. Next, came the MENA region with a share of Dh42.7 billion (16%), America and the Caribbean with a share of Dh27.4 billion (10%), West and Central Africa with a share of Dh9.4 billion (4%), and, last, East and South Africa with a share of Dh7.4 billion or 3% of UAE non-oil trade during Q1 this year.
Region-wise, 43% of UAE non-oil imports in Q1 2016 came from Asia, Australia and the Pacific with a value of Dh70 billion. Europe came second with a share of Dh43.8 billion (27%).
With a share of Dh23.3.7 billion (14% of UAE non-oil imports), America and the Caribbean ranked third. Next, came MENA with a share of Dh13.9 billion (9%), West and Central Africa with a share of Dh7.9 billion (5%), while East and South Africa came last with a share of Dh4.4 billion or 3% of UAE non-oil imports during Q1 this year.
For UAE non-oil exports during Q1 2016, the FCA announced that countries in the Asia, Australia and the Pacific region make the largest market for UAE non-oil exports. The share amounts to 35% (Dh16 billion) of the UAE non-oil exports.
When it comes to re-exports, FCA statistics for Q1 2016 show that the Asia, Australia and the Pacific region was the UAE leading re-export trade partner with a share of 42% (Dh22.3 billion) of total re-exports, while MENA scored second with a share of 28% (Dh15 billion).
FCA's preliminary statistics also reveal that raw gold and manufactured gold ranked top among imports in Q1 2016 with a share of 15% (Dh24.5 billion) out of total non-oil imports.
With a share of Dh11.9 billion (7%), cars ranked second. Next, came imports of diamond, not mounted or set, with a share of DH 10.5 billion (6%), telephone handsets with a share of Dh9.1 billion (5%), and jewelry, and precious stones and metals with a share of Dh6.7 billion or 4% of total UAE non-oil imports.