Monday 2 January 2012

WAM: Non-oil UAE trade grew 23% to AED 524 bln in 7 months, says FCA

UAE non-oil foreign trade has been on the go for 7 months of 2011 compared to the same period of the previous year. The preliminary statistics released by the Federal Customs Authority (FCA) show that UAE non-oil foreign trade has grown for the staid period by 23% compared to the same period of the previous year as Total non-oil Foreign Trade has grown from AED 426 billion during the first 7 months of 2010 to AED 524 billion in the same period of 2011, i.e., an increase of AED 98 billion.

The preliminary statistics for the first 7 months of 2011 show a 22% growth in imports to increase from AED 276.3 billion during the first 7 months of 2010 to AED 337.1 billion for the same period in 2011, FCA said in an emailed press release.

On the other hand, exports witnessed an astounding growth by 45% for the same period with an increase from AED 44.5 billion to AED 64.7 billion. Re-exports, however, experienced a growth rate of 16% to go up from AED 105.2 billion to AED 122.1 billion for the same period.

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