UAE's general trade rises to AED 346 billion in Q1-2012
Wednesday, 24 October 2012
ABU DHABI: The UAE's general trade volume (total volume of UAE non-oil foreign trade and trade of free zones) in the first quarter of 2012 recorded a 6.7% increase by AED 21,6 billion from AED 3.24.6 billion to AED 346,2 billion year on year, Preliminary statistical data released Tuesday by the Federal Customs Authority (FCA) showed.
The Federal Customs Authority (FCA), in a press release, said imports accounted for AED 219,9 billion of UAE total trade, while exports and re-exports represented AED 38 billion and AED 88,3 billion, respectively, according to Emirates news agency (WAM).
FCA said in a press statement that the total value of UAE non-oil foreign trade (the first contributor to the state's general trade volume) rose to AED 238,4 billion in Q1-12, while the total FZ trade (the second contributor) increased to AED 107,8 billion in the same period.
The total value of FZ trade increased by 18% year-on-year to AED 107,8 billion in Q1-12, from AED 91,6 billion.
"FZ imports jumped by 16% from AED 55 billion to AED 63,6 billion in Q1-12. Exports hiked 50% from AED 2,5 billion to AED 3,7 billion. Re-exports for free zones climbed 19% from AED 34 billion to AED 40,5 billion," FCA stated.
"The total FZ trade volume with the GCC countries significantly increased in terms of re-exports, compared to imports, which in turn reflects that the GCC countries represent one of the major export destinations to the UAE's free zones, FCA said.
The total FZ trade volume with the GCC countries in terms of value hit AED 13,8 billion in Q1-12 - with AED 2,4 billion imports, AED 11,1 billion re-exports and AED 259 million exports. (QNA)