The UAE’s non-oil foreign trade grew 27% year-on-year in the first half of 2021 and also 6% from pre-pandemic levels in 2019.

According to preliminary data released by the Ministry of the Economy, the total value of the country’s non-oil foreign trade amounted to nearly Dh900 billion in the first half of 2021.

The value of non-oil exports alone stood at MAD 170 billion during this period, an increase of 44% compared to the first half of 2020 and 41% compared to the first half of 2019.

The contribution of non-oil exports to the country’s total non-oil foreign trade in the first half of 2021 increased to 19%, from 16.6% in 2020 and 14.2% in 2019.

Data from the Ministry of Economy showed that the value of UAE’s gold exports exceeded Dh70 billion in the first half of 2021. It showed a 48% growth compared to the first half of 2020, while the rest of non-oil exports, with the exception of gold, totaled 98 billion Dhs with a growth of 42. percent compared to the first half of 2020 and 20 percent compared to the first half of 2019. In addition, 87 percent of the country’s non-oil exports are made locally and 13 percent come from free zones and customs warehouses.

Gold, ornaments and jewelry; aluminum; plastics, copper and related articles; articles of iron and steel; were the country’s top five non-oil exports. Their total value grew by 50% in the first half of 2021 compared to the first half of 2020 and by 47.4% compared to the first half of 2019.

Re-exports, which totaled 238 billion Dhs in the first half of 2021, increased by 22% compared to the first half of 2020. In addition, 46% of re-exports come from the local market and 54% from free zones.

The total value of imports in the first half of 2021 exceeded 482 billion Dhs, indicating a growth of 24% compared to the first half of 2020 and of 3% compared to the first half of 2019. Up to 66% of imports have gone to the local market and 34% to free zones and customs warehouses.

The ministry said of the country’s total non-oil trade, 65% was with the local market, while free zones and customs warehouses made up the remaining 35%. In addition, 46% of this trade was carried out by air, 35% by sea and 20% by land.

The country’s non-oil trade increased dramatically with the five fastest growing economies in the first half of 2021. These were China, Saudi Arabia, Iraq, Turkey and Turkey. Italy. Meanwhile, the country’s top five export destinations from H1 2021 to H1 2020 were India, Saudi Arabia, Hong Kong, Kuwait, and China. The main re-export partners of the United Arab Emirates are Saudi Arabia, Iraq and Egypt.

Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said the country’s promising foreign trade figures coincide with the launch of the “50 Projects”, which was recently announced by the UAE government. . It includes strategic initiatives such as Comprehensive Economic Agreements with a number of targeted global markets and the 10 × 10 Export Development Program designed to provide an additional incentive to strengthen the UAE’s comprehensive economic and trade partnerships with countries of the whole world.