Value of UAE’s non-oil trade at Dh1.63t in 2018

Dubai: The value of non-oil foreign trade in the UAE reached nearly Dh1.63 trillion in 2018, up slightly from the Dh1.61 trillion in 2017.

Figures from the Federal Customs Authority (FCA) on Tuesday showed that within non-oil trade, the value of exports rose by 1.8 per cent to Dh212 billion. Re-export values reached Dh478.4 billion in 2018.

The value of imports into the UAE fell by 4.2 per cent to reach Dh938 billion compared to Dh979 billion a year earlier.

Non-oil trade with Arab countries increased last year, accounting for 21 per cent of the UAE’s trade compared to 19 per cent in 2017.

The FCA said that non-oil trade partners remained stable in the year, with the Asia and Pacific Ocean region coming at the top of the trade partners’ list. They accounted for 39.3 per cent of the UAE’s total non-oil trade, with a value of Dh603.2 billion, while Europe came in second place, with a share of 22.4 per cent (Dh344.4 billion).

The share of trade with Middle Eastern and North African countries increased to Dh332.1 billion, while trade with America and the Caribbean amounted to Dh136.5 billion (8.9 per cent of the total).

Trade with West and Central Africa amounted to Dh54.8 billion (3.6 per cent).

In terms of products imported, raw and half-finished gold was the most imported item, with Dh111 billion worth of goods coming in to the UAE, representing 12 per cent of the country’s total import values. It was followed by telephone equipment (Dh73.7 billion) and automobile imports (Dh57 billion).

Gold was also the most exported item, amounting to 25 per cent of the UAE’s non-oil exports in 2018. It was followed by raw aluminium (Dh18.6 billion) and cigarettes (Dh12 billion).