Abu Dhabi - Mubasher: In the first half of 2018, the UAE's non-oil foreign trade reached AED 784 billion, including direct trade, free zones, of which about AED 463 billion were imports, AED 232 billion were re-exports and nearly AED 90 billion were exports.
Total exports and re-exports in the first half of 2018 grew by 4% compared to the same period in 2017, while the trade balance deficit declined by 23% during the same period.
In 2017, the value of non-oil foreign trade, including free zone trade, amounted to AED 1.612 trillion, of which AED 979 billion were imports and AED 443 billion were re-exports.
In 2017, the country witnessed exports in more than 100 regional and global markets.
Today, the UAE is the largest Arab trading partner for Asia, Europe, Africa and the Americas.
It accounts for 44% of total non-oil trade between Arab and Asian countries, 27% from total trade with Europe and 37% with North and South America, according to the ministry of economy’s annual report.
The UAE ranked 15th globally in commodity exports, 18th globally in commodity imports, 21st globally in services exports, 17th globally in services exports according to World Trade Organization (WTO).
A recent report by the World Economic Forum predicted that by 2020, the UAE’s e-commerce market will reach about $27 billion, growing by 100%, compared with about $69 billion in the total e-commerce market for Arab countries in the same year.
