UAE non-oil trade hits Dh370.3bn in five months with Dh71bn increase

Federal Customs Authority (FCA) preliminary statistics show that UAE non-oil foreign trade continues to increase for the five months of 2011 with an increase of Dh71bn. Trade increased 24 per cent as compared to the same period of the last year as Total non-oil Foreign Trade has grown from Dhs299.2bn.

Import surged 22 per cent during the first five months to Dh237.4bn. Similarly, export increased from Dh31bn to Dh43.5bn. Re-exports surged 22 per cent to go up from Dh73.3bn to Dh89.4bn for the same period.

The body said that the import export figures are good sign for the US economy and indicate that US economy is on course of recovery against the recessionary fears prevailing in the market. Import export growth also indicates productivity, exports, re-exports and higher competitiveness for national products on international level.

UAE total foreign trade in May surged 18 per cent and valued at YoY Dh73bn compared to Dh61.6 during the corresponding period last year. India, China, the US, Germany, South Korea, Japan, Italy, Switzerland, and the UK emerged as top exporter to the UAE in May 2011.