UAE’s non-oil trade hit AED1.033 trillion during first nine months of 2020

Despite the global economic slowdown and COVID-triggered lockdowns, UAE’s non-oil trade amounted to AED1.033 trillion during the first nine months of 2020, statistics by the Federal Competitiveness and Statistics Centre showed today.

The figures cover the exchanges of non-oil commodities, including direct trade and that of free zones and warehousing arrangements, highlighting the healthier trade and remarkable leap in exports and re-exports during September, at a value of AED76.35 billion.

From January to September 2020, imports amounted to AED572.888 bn, while the value of exports reached AED191.322 bn and re-exports increased to AED269.104 bn, according to the FCSC’s statistics.

China is the country’s top trading partners with a total trade of AED124.45 bn, followed by Saudi Arabia, AED90.8 bn, India, AED70 bn, US, AED60 bn, and Switzerland, AED41 bn.

Gold topped the list at around AED182 bn, followed by phone and other cellular devices at AED105 bn.

According to Ministry of Economy’s statistics, the UAE ranks third globally, and leads Arab region in terms of re-exports, coming among top 20 import & export countries worldwide in 2019, during which non-oil trade grew 5 percent, contributing significantly to the country’s non-oil GDP.

WAM