UAE non-oil trade hits AED658.3 billion in H1 2020
The value of the UAE’s non-oil trade reached AED658.3 billion in the first half of 2020, accounting for 41 percent of the total value of the country’s trade in 2019, according to figures released by the Federal Competitiveness and Statistics, FCSC, Centre today.
This signals the continued activity of the economic sectors despite the slowdown in economic and commercial activities during the past months worldwide, as a result of temporary closures due to COVID-19, said the FCSC.
Gold topped the list of non-oil commodities trade at AED104 billion, making 15.7 percent of the total trade in H1 of the current year.
According to figures, imports stood at AED378.8 billion in H1 of 2020 against AED116.7 billion for exports and AED 162.7 billion for re-exports.
With regards to the trade partners, the FCSC’s figures showed that China emerged as the largest trading partner with a trade value of AED82.4 billion, followed by Kingdom of Saudi Arabia at AED46.6 billion.
The value of the trade with five major trading partners, China, Saudi Arabia, India, United States and Switzerland reached AED244 billion, constituting 37.1 percent of the UAE’s total trade in the reference period.