Recent economic and trade monitoring data indicated that value of non-oil foreign trade in the UAE reaching nearly Dh1.63 trillion in 2018, increasing slightly from the Dh1.61 trillion in 2017. Federal Customs Authority (FCA) figures suggest that within non-oil trade, the value of exports rose by 1.8 per cent to Dh212 billion while re-export reached Dh478.4 billion.

Although the overall value of imports into the UAE fell by 4.2 per cent to reach Dh 938 billion compared to Dh 979 billion the previous period. Dh 212b value of non-oil exports, registered a growth of 1.8 per cent as non-oil trade with Arab countries increased last year, accounting for 21 per cent of the UAE’s trade compared to 19 per cent.

FCA data also indicated that non-oil trade partners remained stable throughout the year, with the Asia and Pacific Ocean region maintaining the top lead of the trade partner list. They accounted for 39.3 per cent of the UAE’s total non-oil trade, with a value of Dh 603.2 billion, while Europe came in second place, with a share of 22.4 per cent (Dh 344.4 billion).

Not to be left behind, the share of trade with Middle Eastern and African countries increased to Dh 332.1 billion, while trade with America and the Caribbean amounted to Dh 136.5 billion (8.9 per cent of the total). 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).

The value of imports, fell by 4.2 per cent last year bu the trade with West and Central Africa amounted to Dh 54.8 billion (3.6 per cent). In terms of products imported, raw and half-finished gold was the most imported item, with Dh 111 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 (Dh 73.7 billion) and automobile imports (Dh 57 billion).