UAE non-oil trade reaches Dhs658.3bn in H1 2020

The value of the UAE’s non-oil trade reached Dhs658.3bn in the first half of 2020, accounting for 41 per cent of the total value of the country’s trade in 2019, according to figures released by the Federal Competitiveness and Statistics Centre (FCSC).

Imports were recorded at Dhs378.8bn in H1 of 2020, while exports stood at Dhs116.7bn and re-exports at Dhs162.7bn. The UAE’s largest trading partner for non-oil products during the first half of the year was China.

Trade with the Asian country was reported to be valued at Dhs82.4bn. The UAE’s second largest trading partner was Saudi Arabia with Dhs46.6bn of trade.

The five biggest trading partners of the UAE – China, Saudi Arabia, India, the US and Switzerland – accounted for 37.1 per cent of the UAE’s total trade, worth Dhs244bn.

Gold topped the list of non-oil commodities traded in H1 2020, at Dhs104bn, comprising of 15.7 per cent of the total trade during the period.

Previous figures released by two major emirates in the UAE – Abu Dhabi and Dubai – showed a rapid recovery of trade following the onset and impact of the Covid-19 impact earlier this year.

The non-oil foreign merchandise trade through the ports of Abu Dhabi amounted to Dhs80.2bn in the period from January through May 2020.

Read: Abu Dhabi’s non-oil foreign trade valued Dhs80.2bn for Jan-May 2020

Dubai reported Dhs551bn worth of non-oil external trade in the first half of 2020, with China remaining Dubai’s largest trading partner with Dhs66.4bn worth of trade.

Read: Dubai records Dhs551bn non-oil external trade in H1 2020