UAE non-oil trade worth Dh34.9b

non-oil - CopyThe total value of non-oil foreign merchandise trade reached Dh34,899 million during the first quarter of 2014, marking an increase of Dh1,934 million (5.9 per cent) compared with Q1 2013, according to a report released by the Statistics Centre Abu Dhabi (Scad).

Imports increased by Dh763 million (3.1 per cent), and non-oil exports by Dh1,602 million (44.2 per cent), while the value of re-exports decreased by Dh431 million (9.9 per cent) during this period.

 

Imports contributed 73.8 per cent of total foreign trade during Q1 2014, while non-oil exports and re-exports contributed 15 per cent and 11.2 per cent respectively.

 

Additionally, the report said that ‘machinery and transport equipment’ was the largest contributor to imports in Q1 2014, representing 47.8 per cent of the total. Its value increased by Dh1,101 million (9.8 per cent) compared with Q1 2013. The main contributors to this increase were the sub-sections ‘road vehicles’ (up Dh793 million), and ‘transport vehicles excluding road vehicles’ (up Dh292 million).

 

The second largest section in Q1 2014 was ‘manufactured goods classified by material’ at Dh5,655 million — a decrease of Dh434 million (7.1 per cent) compared with Q1 2013. The third largest was ‘chemicals and related products’ representing 10.2 per cent of the total. Its value increased by Dh319 million (13.8 per cent) over the period.

 

These top three sections contributed 80 per cent of the total value of imports in Q1 2014 compared with 78.5 per cent in Q1 2013.

 

The Asia continent represented the leading source (43.9 per cent) of imports during the first quarter of the year. Imports from Europe and North America represented 31.5 per cent and 12.6 per cent of the total imports for the quarter.

 

The US came as the leading destination of imports with Dh3,025 million. There were increases in imports from France (up Dh501 million), Japan (up Dh366 million), China (up Dh323 million), and Germany (up Dh300 million). These were partially offset by decreases from Italy (down Dh498 million), and Saudi Arabia (down Dh438 million).

 

Source: Gulf News