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Gulf Industry Magazine helps you catch up with the numbers behind economic and industrial developments in the region.

August 2018

Abu Dhabi-China non-oil trade hits $3.59bn

The value of non-oil trade between Abu Dhabi and China reached Dh13.2 billion ($3.59 billion) in 2017, constituting around 8.2 percent of the emirate’s registered trade that totalled Dh160 billion during the same year, according to data from the Statistics Centre-Abu Dhabi (SCAD).

The value of Abu Dhabi’s exports to China reached around Dh4.2 billion ($1.14 billion) in 2017, according to SCAD, while the value of imports reached around Dh5.5 billion, and the value of re-exports between both sides reached Dh3.5 billion, said the Wam news agency report.

Statistics on Abu Dhabi’s non-oil trade also show that China is among the top five countries with key trade relations with the emirate.

The growing interest of Chinese companies and investors in Emirati markets is due to the UAE’s attractive business environment, which is reflected by the considerable presence of Chinese companies that operate in both Abu Dhabi and the UAE, especially through the country’s free zones, the report said.

Many major Chinese companies are helping to implement infrastructure projects related to the transportation sector, as well as other development projects in other sectors, it said.

 

UAE-Vietnam trade touches $9bn in 2017

The value of foreign trade between the UAE and Vietnam, including free zones trade, totalled nearly $9 billion in 2017, with exports accounting for around $324 million, re-exports for around $282 million, and imports for around $8.4 billion, a media report said.

The value of Vietnam’s global exports in 2016 reached $219.8 billion, compared to $162 billion in 2015, an increase of 35.7 per cent, reported Emirates news agency Wam, citing a study issued by the Ministry of Economy.

The study, titled “The Reality of the Foreign Trade between the UAE and the Socialist Republic of Vietnam,” highlighted the advancing economic and trade cooperation between the two countries and the opportunities to develop them in the future. It also addressed key aspects of the Vietnamese economy.

The UAE is in the first place internationally in terms of importing phones from Vietnam in 2016, third in importing information self-processing machines, 15th in importing parts and supplies except for covers, 18th in importing shoes made from synthetic materials, and 21st in importing leather shoes.

The UAE is also in the 18th place internationally in terms of exporting non-crude petroleum oils to Vietnam and 24th internationally in exporting electronic circuits to Vietnam in 2016.

The UAE is eighth in the list of countries that import products from Vietnam and 32nd internationally in terms of exports in 2016.

 

UAE-S Africa non-oil trade surges 23pc to $3.2bn

Non-oil foreign trade between the UAE and South Africa saw an increase of 23 per cent last year to $3.2 billion from $2.6 billion in 2016, Sultan bin Saeed Al Mansouri, Minister of Economy was quoted as saying in a media report.

Al Mansouri was delivering the keynote address at the UAE-South Africa Business Forum, held at the Emirates Palace recently, in the presence of Cyril Ramaphosa, President of South Africa, and an audience of Emirati and South African businessmen and investors, reported Emirates news agency Wam.

During the first five months of 2018, he said, non-oil trade between the two friendly countries rose slightly to $1.2 billion from $1.1 billion for the corresponding period last year.

“We expect further improvement and growth in the non-oil trade for the rest of the year,” Al Mansouri noted.

Highlighting promising prospects for dynamic trade relations, Al Mansouri noted to tremendous opportunities to increase trade exchange in jewellery and precious metals, petrochemicals and other premium products of regional and international reputation. The UAE minister called on South African business community to harness the UAE’s economic strengths and attractions as a key export gateway to Middle East and Asia.

 

Saudi to import 1.74m tonnes of fodder barley

Saudi Grains Organization has completed steps for its fifth tender for this year to import 1.74 million tonnes of fodder barley during September-October 2018 on board 29 ships through the kingdom’s ports on the Gulf and the Red Sea, said a report.

  The organisation’s Governor Engineer Ahmed bin Abdulaziz Al-Faris pointed out that this batch comes as an extension of the kingdom’s plan to cover the local demand for fodder barley and preserve its strategic stocks, added the Saudi Press Agency report.

  The official noted that the organisation has contracted so far 6.2 million tonnes of fodder barley, it added

 

Bahrain-origin exports surge 10pc in Q2

The value of Bahrain-origin exports reached BD561 million ($1.47 billion) during second quarter (Q2) of the year versus BD510 million for Q2 2017, marking a 10 per cent increase, said the Information & eGovernment Authority (iGA).

The top ten countries account for 82 per cent of the exported national origin value and 18 per cent for other countries, added the iGA in its foreign trade report of the second quarter of 2018 which encompasses balance of trade, imports, exports (National Origin) and re-exports.

  Saudi Arabia was ranked as the first country importing from Bahrain with BD144 million, Oman second with BD68 million and UAE comes third place with BD66 million.

As for national exported products, agglomerated iron ores and concentrates emerged as the top products exported in the second quarter of 2018 with BD89 million; aluminium wires were positioned second products imported with a value of BD71 million; and unwrought aluminium stood third place for exported products with BD49 million.

  As for re-exported field, the value of re-exports decreased by 8 per cent as it reached BD114 million during second quarter of 2018 versus BD124 million for the same quarter of the previous year. The top 10 countries account for 87 per cent of the re-exported value and 13 per cent for other countries.

Saudi Arabia was ranked as the first country to re-export from Bahrain with BD46 million, UAE ranked as the second with BD19 million, and China as the third with BD13 million.

Four-wheel drive cars emerged as the top product re-exported from Bahrain with BD17 million, cigarettes containing tobacco came as second products with BD10 million, and parts for other gas turbines as third with BD3 million.

  Aluminium oxide emerged as the top product imported to Bahrain with BD67 million, while the non-agglomerated iron ores and concentrates as the second with BD62 million. Four-wheel drive cars came as third products with BD50 million during second quarter of 2018.




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