DUBAI: Diversity was not something the United Arab Emirates had expected to come this quickly, but a recent statement by the Federal Customs Authority (FCA) revealed that non-oil foreign trade was up 9.45 percent through the first 8 months of this year. According to the FCA, trade in non-oil reached 477.6 billion dirhams compared to 436.4 billion in the first 8 months of last year. The FCA said in a media statement published by Gulf News that “persistent growth in non-oil foreign trade during the period assures evolution in the economic growth of the UAE in quantity and quality.” Recent statistics for August 2010 revealed a three percent growth in imports during the period, with the value rising from Dh301.2 billion at the end of August 2009 to Dh311.5 billion at the end of August this year, whereas exports witnessed a considerable 38 percent growth from Dh38.8 billion in the first 8 months of 2009 compared to Dh53.6 billion in the same period in 2010,” the data showed. Similarly, re-exports grew a 17 percent during that period from Dh96.4 billion to Dh112.5 billion this year. The volume of non-oil trade grew 20 percent last August to Dh65.6 billion compared to Dh54.8 billion in August last year. BM
