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India ranks first in UAE's exports

business Updated: Oct 12, 2009 23:04 IST

IANS
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The United Arab Emirates' (UAE) non-oil foreign trade has risen by 42.4 percent in 2008, with India ranking first in the country's exports totaling $4.9 billion, of which 29.7 percent were non-oil exports, WAM news agency reported Monday.

The top 10 countries contributed 65.2 and 70.7 percent to the UAE's total non-oil exports in 2007 and 2008 respectively, while the rest contributed 34.8 and 29.3 percent.

Seven Arab countries occupied the top 10 spots in the non-oil foreign trade exports, five of which were GCC (Gulf Cooperation Council) countries.

Egypt, with a contribution of 3.7 percent in 2008, was in the sixth position. Kuwait was the only country among the top 10 countries that recorded a decline in the UAE exports.

In terms of re-export, the top 10 countries contributed 62.5 and 63.2 percent to UAE re-export volume in 2007 and 2008 respectively, with a total growth rate of 28 percent.

The rest contributed 37.5 and 36.8 percent during the same period, with a total growth rate of 24 percent.

India ranked first with a re-export value of $10.4 billion and a contribution of 23.5 percent, followed by Iran with $6.1 billion and a contribution of 13.8 percent.

Iraq retained third spot in 2008 despite recording a seven percent decline in re-export value.