Non-oil trade up 5 percent in the UAE

Non-oil trade up 5 percent in the UAE

Jump in exports to Dh171.7 billion in first quarter reflects strong growth, says Federal Customs Authority.

May 16, 2010 12:54 by Samuel Potter

A 23 percent jump in exports has resulted in the UAE’s non-oil trade growing 5 per cent to Dh171.7 billion in the first quarter, up from Dh164 billion in the first quarter of 2009, reports Gulf News.

Quoting data provided by the Federal Customs Authority (FCA), the paper says that imports dropped 2 percent from Dh113.6 billion to Dh113.4 billion, but exports jumped 23 percent from Dh14.1 billion to Dh17.4 billion.

The FCA also said that the UAE’s non-oil trade rose 13 percent to Dh63 billion in March from Dh55.6 billion in January, and imports in March rose 9 percent to Dh40.8 billion compared to Dh37.4 billion in January.

On an average, UAE ports and customs handled 24,000 tonnes of cargo daily and 3,000 tonnes per hour in the first quarter, says the paper.

“The continued upward trend in the UAE’s foreign trade in the first quarter is a good indication that the UAE has achieved targeted economic growth levels during the current year,” Khalid Ali Al Bustani, acting general manager of the Federal Customs Authority, told Gulf News. He said the growth in the UAE’s non-oil trade reflects a positive image of the UAE economy.