If the oil runs out, this country can very well sell other goods

ABU DHABI -- The non-oil direct trade of the UAE stood AED 534.1 billion in first half of 2015 compared to AED 521.8 billion years-on-year, achieving a growth of 2 percent, according to the preliminary statistical data of the Federal Customs Authority (FCA).

Commissioner Ali Al Kaabi, Head of the FCA said in a press statement yesterday, that the UAE total direct non-oil trade is considerably stable despite the economic crisis witnessed by many countries around the world, in addition to the slow growth in a number of advance and emerged economies, China in particular, which comes on top of the UAE trade partners. The stability and the growing trends of the foreign non-oil trade of the UAE establishes the strong position of the UAE economy, and reflects the successful economic diversification policy adopted by the UAE government, in addition to the capability of the UAE exports to strongly compete in the international markets.

The FCA preliminary data indicated that the share of imports of the UAE total direct non-oil trade amounted to AED 337.6 billion during the said period, compared to AED 340.6 billion year-on-year recording a drop of 1%.

The FCA preliminary statistics revealed that the native gold and processed gold come on top of the imported goods in the first half of current year, recording AED 50.7 billion with a share value of 15% of the total non-oil imports.

vehicles came in the second place on the list of imports with a value of AED 24.8 billion at 7.3%, non-composite diamond with a value of 22.1 AED billion, i.e. 6.5%, followed by mobile phones recording AED 16.1 billion with 5% then ornaments, jewelry and precious metals with a value of AED 14.1 billion with 4%, of the total non-oil imports.

On the other hand, UAE export tremendously grew by 28% as it reached AED 81.4 billion compared to AED 63.6 billion year-on-year with gold export came on top at a value of AED 28.7 billion, representing 35% of the UAE total non-oil exports, followed by the raw aluminum with a value of AED 8.9 billion with 11%, then ornaments and jewelry with a value of AED 7.7 billion, i.e. 9%, ethylene polymers in primary forms with a value of AED 3.5 billion forming 4%, and finally copper wire with a value of AED 1.7 billion representing 2% of the UAE total non-oil exports during the first half of current year.

"The UAE non-oil foreign trade has significantly grown over the last years in light of the increasing economic growth of the UAE supported by the flexible trade policy adopted by the government, the matter which shows the success of the UAE in eliminating all the trade obstacles with the foreign world, as well as simplifying and standardizing the customs regulations and procedures across all the entry ports of the UAE," stated Al Kaabi.

Revenues from re-exports dropped by 2% recording AED 115.2 billion compared to AED 117.6 billion years-on-year.

The FCA preliminary data indicated that the non-composite diamond came first as the best re-exported commodity in first half 2015 at a value of AED 24.1 billion representing 21% of the total re-exports, followed by ornaments and jewelry with a value of AED 11.4 billion at 9.9%, then cars with AED 11.3 billion with 9.8%, mobile phones with a value of AED 8.5 billion with 6%, and aerial vehicles parts with a value of AED 2.7 billion forming 2% of the total re-exports during the said period.

Head of FCA also pointed out that the progress of the state to the third rank at the global level in terms of customs efficiency, the reduction of the customs clearance time at the border ports and the improvement of the customs inspectors efficiency contributed to the transformation of the UAE to a regional mall linking between East and West, and to the facilitation of global trade and the capital movement for the establishment of major investment projects, taking advantage of the features and facilities provided by the state.

The UAE total non-oil trade volume reaches in terms of weight during first half 2015 approximately 86.4 million tons, 33.2 million tons of which were imports, and 48.6 million tons of exports, and 4.6 million tons of re-exports.

With regard to the UAE trading partners map in the field of non-oil trade, the FCA pointed out, in its statement, that the regional structure of the UAE trading partners in the field of non-oil trade was stable in terms of regions shares in the first half 2015, as Asia, Australia and the Pacific region maintained the first rank on top of the non-oil trade partners with a share of AED 218.3 billion equivalent to 42% of the UAE total non-oil trade.

The European region came second in the list of the UAE trading partners with a share of AED 129.2 billion representing 25% of the total, followed by the Middle East and North Africa Region with AED 88.9 billion with 17%, and the American and Caribbean Region with AED 49.5 billion with 10% of the total, and West and Central Africa with AED 19.7 billion at 4%, and finally the Eastern and Southern Africa with AED 14.9 billion, representing 3% of the UAE total non-oil trade during the said period.

With regard to the UAE non-oil trade with the GCC countries, the FCA stated that the share of the UAE non-oil trade with the GCC countries in the first half 2015 reached 10% of the total non-oil trade with the world, amounting to AED 53 billion.

Saudi Arabia came on top of the Gulf countries in terms of the value of the UAE non-oil trade with a value of AED 21.2 billion with 40% of the total non-oil trade with the GCC countries, followed by Oman with a value of AED 12.3 billion with 23%, Qatar with AED 7.6 billion at 14%, Kuwait with AED 7 billion with 13%, and finally the Kingdom of Bahrain with a value of AED 5 billion representing 9% of the total non-oil trade with the GCC countries.

In terms of trade with the Arab countries, the FCA preliminary data showed that the UAE total non-oil trade with the Arab states over the past year constitutes 17% of total non-oil trade of the country with the world, with a value of AED 90.9 billion.

According to the FCA, the non-oil imports to the UAE from the Arab countries amounted to AED 25.8 billion in the first half 2015, i.e. 8% of the total non-oil imports. Saudi Arabia came on top of five Arab countries exporting to UAE with a value of AED 7.5 billion with 28% of the UAE total non-oil trade with the Arab countries, followed by Sudan, with AED 3.1 billion with 12%, the Sultanate of Oman with AED 2.7 billion i.e. 10%, Libya with AED 2.4 billion, i.e. 9%, then Iraq with AED 2.2 billion with 8% of the UAE total non-oil trade with the Arab countries.

The UAE non-oil exports to the Arab markets in 2014 amounted to 39% of the UAE total exports recording approximately AED 32 billion. Saudi Arabia came on top of five Arab countries importing from the UAE with AED 8.9 billion, i.e. 28% of the UAE total non-exports to the Arab countries, followed by Oman, with a value of AED 5.2 billion with 16%, Iraq with AED 4.2 billion at 13%, Kuwait with AED 3.2 billion, i.e. 10%, and finally Qatar in 5th place with AED 2.8 billion constituting 9% of the total non-oil exports of the UAE to the Arab countries.

The FCA indicated that the non-oil re-exported goods from the UAE to the Arab countries during the first half 2015, reached 29% of the UAE total non-oil re-exports, i.e. a value of AED 33.1 billion. Iraq was ranked in the first place among the top five Arab countries to which the UAE has re-exported non-oil goods with a value of AED 9.3 billion forming 28% of the total re-exports to the Arab countries, followed by Saudi Arabia with AED 4.8 billion i.e. 14%, then Oman with a value of AED 4.4 billion, at 13%, Qatar with AED 3.4 billion with 10%, and finally Kuwait with AED 2.6 billion representing 8% of the total re-exports to the Arab countries.