UAE’s non-oil trade increases to AED 63 bn

UAE’s non-oil trade increases to AED 63 bn

India top trade partner

Abu Dhabi, May 16: India has become the largest trade partner of United Arab Emirates which recorded non-oil foreign trade worth AED 63 billion (about $17 billion) last year. Between February 2009 and March 2010, the total volume of UAE’s non-oil trade reached AED 63 billion, up 18 percent from AED 53 billion a year ago. This includes AED 40.8 billion of imports, AED 6.8 billion of exports and AED 15.4 billion of re-exports, according to statistics released by the Federal Customs Authority.

India, China, USA, Japan, Germany, UK, Italy, Switzerland, France and Malaysia, respectively, topped the list of exporting counties to the UAE with a total export value of AED 24.6 billion - 60 per cent- of the total import of the country. On the list of importers, the first 10 were India, Switzerland, Saudi Arabia, Oman, Kuwait, Iraq, Qatar, Pakistan, Iran and Yemen with a total value of AED 5.2 billion, which is 76 per cent of the total for the same period.

In the field of re-export, India came on top followed by Iran, Iraq, Bahrain, Hong Kong, Saudi Arabia, Qatar, Belgium, Switzerland and Germany with AED 10.8 billion, 70 per cent of the total re-export value.