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A new study by the Ministry of Foreign Trade (MoFT) said the UAE's trade in 2010 grew 14.2% year-on-year and 23% in 2011. The value of the UAE's non-oil exports and re-exports in 2011 grew by 20.8% year-on-year while imports grew by 24.2% reflecting the growth of the country's sectors such as construction and manufacturing industries, according to MoFT's new study.
India, Switzerland and Saudi Arabia maintained their rankings in 2010 and 2011 as the UAE's top three markets of the UAE's non-oil exports with India having 31.9% or US$ 9.9 billion of the total UAE's exports, followed by Switzerland with 12.6% or 3.9% and Saudi Arabia with US$1.5 billion, the study showed. Iran advanced one place to become in 2011 the 4th largest importer of the UAE's non-oil commodities receiving 4.2% of the total UAE's exports, according to the study. In 2011, five new countries joined the list of the UAE's major trading partners with Canada advancing from the 62th place in 2010 to the 8th place in 2011, Singapore from 17th place to the 5th, Turkey from 20th place to 7th, Thailand from 33rd place to the 10th with its imports from the UAE growing 500% in 2011.
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