DOHA: The value of bilateral trade between Qatar and the United Arab Emirates (UAE) during the first quarter (Q1) of 2012 was about Dh2.4bn ($653m), equivalent to 7 percent of the UAE’s total trade with the GCC countries amounting to Dh34.3bn ($9.34bn).
According to a recently released statistics by the Federal Customs Authority (FCA) of the UAE, the value of its imports from Qatar during Q1 of 2012, was Dh591m ($160.90m), while the value of exports to Qatar remained at Dh270m ($73.5m), and the value of re-export trade at Dh1.20bn ($326.7).
The UAE’s non-oil foreign trade maintained an impressive growth in the recent years. Preliminary data showed that the growth rate of UAE exports hit 38 percent in the said quarter, raising the exports to Dh34.3bn compared to Dh24.8bn in the corresponding period last year with an increase of Dh9.5bn.
In the same period, the UAE imports rose to 6 percent, raising the UAE non-oil imports by Dh8.9bn from Dh147bn in the first quarter of 2011 to Dh156.3bn this year. The re-exports reached Dh47.8bn within this period.
“The growth rate of the UAE non-oil foreign trade hit 2.3 percent in the first quarter of this year”, the FCA said in a statement. The total of UAE’s non-oil foreign trade with the GCC states hit Dh18.6bn in the first quarter of this year. This total consisted of Dh6.9bn in imports, Dh4.8bn in exports and Dh6.9bn in re-exports.
Saudi Arabia kept its top place among the UAE trade partners from the GCC in the first quarter. The UAE’s total trade with the Saudi Arabia reached Dh7.1bn. Oman came in the second place with Dh4.7bn followed by Kuwait with Dh2.4bn, Qatar with Dh 2.4bn and finally Bahrain with Dh2bn.
The UAE’s total foreign trade with Arab countries hit about Dh31.8bn in the first quarter. This total comprised of Dh14.1bn in imports; Dh7bn in exports and Dh10.7bn in re-exports.
The Peninsula
