The UAE’s trade in 2010 grew 14.2 per cent year-on-year and 23 per cent in 2011, according to a new study by the Ministry of Foreign Trade.
The value of the UAE’s non-oil exports and re-exports in 2011 grew 20.8 per cent year-on-year while imports grew 24.2 per cent reflecting the growth of the country’s sectors such as construction and manufacturing industries.
India, Switzerland and Saudi Arabia maintained their rankings in 2010 and 2011 as the UAE’s top three non-oil export markets with India having 31.9% or $9.9 billion of the total UAE’s exports, followed by Switzerland with 12.6% or $3.9 billion and Saudi Arabia with $1.5 billion. Iran advanced one place to become in 2011 the fourth largest importer of the UAE’s non-oil commodities receiving 4.2% of the total UAE’s exports, according to the study.
In 2011, five new countries joined the list of the UAE’s major trading partners with Canada advancing from the 62nd place in 2010 to 8th place in 2011, Singapore from 17th place to 5th, Turkey from 20th place to 7th and Thailand from 33rd place to 10th with its imports from the UAE growing 500% in 2011.
Source: Khaleej Times