UAE trade volumes increase by 0.1% in first nine months of 2016

According to preliminary statistical data from the Federal Customs Authority (FCA), the UAE’s general trade volumes went up by 0.1 per cent (Dh1.172 trillion) in the first nine months.

Commissioner Ali Al Kaabi, head of the FCA, said in a statement that direct non-oil foreign trade formed 69 per cent of the total, which is Dh813.7 billion.

Representing the UAE’s success in diversification was the growth in on-oil trade. This was at a time of trade among the world’s major economics.

It has also been stated that free zones accounted for 31 per cent of the non-oil trade.

Al Kaabi also reported that imports were up by a per cent, as well as exports which went up by 6 per cent. These figures reflected an increment in demand for UAE product abroad. Also, policies to support productive and industrial sectors were beginning to bear fruit.

Gold is said to be on top of the exports list (accounting for 29 per cent) of non-oil exports, followed by aluminium (9.5 per cent) and ornaments and jewellery (9 per cent).

Gold currently has a 12 per cent share then followed by mobile phones (9 per cent), and cars (5.3 per cent)

Re-export was also valued at Dh301.4 billion.

Asia, Australia and the Pacific remained the UAE’s primary trading region (accounting for 42 per cent of non-oil trade) then followed by Europe (23 per cent) and the Middle East and North Africa (19 per cent).

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