UAE-UK trade at Dhs11.92b in Q1 - GulfToday

UAE-UK trade at Dhs11.92b in Q1

Dubai port

The UAE’s imports from the UK rose by around 9.5 per cent to Dhs8.58 billion in the first three months of this year.

Abeer Abu Shammaleh/WAM

The total commodity trade between the UAE and the UK grew by around 4 per cent to around £2.57 billion (Dhs11.92 billion) in the first quarter of this year, up from £2.47 billion (Dhs11.46 billion) in the corresponding period last year.

According to official commercial data from the UK, the UAE’s imports from the UK rose by around 9.5 per cent to £1.85 billion (Dhs8.58 billion) in the first three months of this year, compared with £1.69 billion (Dhs7.84 billion) in the same period last year. The UAE’s exports to the UK dropped by around 8.6 per cent from £784.38 million (Dhs3.64 billion) in the first quarter of this year to £716.23 million (Dhs3.32 billion) in the same period last year.

The surplus of the UAE balance of trade with the UK rose by around 25.6 per cent to £1.13 billion (Dhs5.24 billion).

 The UAE’s non-oil foreign trade, including direct and free zone trade, and customs warehouses, reached a total of Dhs1.628 trillion in 2018, announced the Federal Customs Authority recently.

In a statement, the Authority noted that direct non-oil foreign trade accounted for 63 per cent (Dhs1.025 trillion) of the total value, while free zone trade and customs warehouses amounted to 36 per cent (Dhs592.4 billion) and one per cent (Dhs11 billion) respectively.

UAE non-oil foreign trade with Arab states has seen significant developments, with an average increase of 21 percent compared to 19 percent from the previous year. Trade exchange with Arab countries increased to Dhs341.2 billion, and the value of imports an exports amounted to Dhs77.3 billion and Dhs93.8 billion respectively. The FCA noted that re-exports totalled Dhs170.1 billion between the UAE and Arab states, adding that this represents a significant surplus in trade balances.