UAE non-oil trade reached 553.4 billion AED in first half of 2016
The exhibition has seen the presence of officials and decision makers from the public and private sectors, from different parts of the world. Representatives from international companies operating in the lifestyle, fashion, electronics and home equipment, beauty and cosmetics, and health and fitness and other basic and luxury goods as well as contractors, consultants and suppliers, are present.
“The International Autumn Trade Fair is an international exhibition for consumer goods and appliances. The 31st edition comes at the time when the UAE’s non-oil trade reached AED 553.4 billion during the first half of 2016,” said Satish Khanna, General Manager, Al Fajer Information and Services, the organiser of the event. He added that the UAE is considered a central business hub of the Gulf countries, Iran, South Asia and East Africa, and is among the world’s most dynamic markets in terms of foreign trade. Specialised trade fairs such as IATF help to promote trade and foreign trade growth in the coming years.
Industrial products exported from the UAE were broken down as 9.6 per cent to India, 5.6 per cent to Iran, 2.2 per cent to the European Union, 1.9 per cent to Switzerland, 1.3 per cent to Iraq, and 26 per cent for the remainder of the world. The imports came from the EU amounted to 16.3 per cent, 13.6 per cent from India, 7.1 per cent from China, 6.9 per cent from the US, 3.9 per cent from Japan, and 23.9 per cent from the rest of the world, according to the World Trade organisation (WTO) report of 2015.
Exhibition Manager, Rupashree Singh said the surge in commercial trade of industrial products has helped us to attract more than 250 exhibitors from all over the world.
The organisers quoted latest figures of the Federal Customs Authority (FCA), and revealed the UAE non-oil trade reached AED 553.4 billion during the first half of 2016, compared with AED 535.7 billion in the same period last year. This increase of AED 17.7 billion equates to a growth of three per cent, while the value of exports grew by nine per cent to reach AED 88.8 billion.