UAE ranks 20th in merchandise trade
UAE is the world’s 20th biggest exporter in merchandise trade, according to the most recent classification done by the World Trade Organisation (WTO) Secretariat for 2011, surpassing countries like Australia, Brazil, Switzerland and Sweden.
The UAE exported $285 billion in merchandise trade, next to India (19th position) with exports of $297 billion, according to the WTO report. The UAE constituted 1.6 per cent of the world’s exports which stood at $18.21 trillion of merchandise trade in 2011.
These figures were released on the sidelines of the announcement of the 27th International Autumn Trade Fair (IATF2012), the region’s pioneer consumer goods show, which will be held from December 11–13, 2012 at the Dubai International Convention and Exhibition Centre.
“The report also says that the UAE is the world’s 25th importer in merchandise trade, having imported merchandise worth $205 billion in 2011, 1.1 per cent of the world’s imports of $18.38 trillion. The USA tops the list of importers with $2.26 trillion of imports in 2011. The UAE was ahead of countries like Austria, Malaysia and Sweden in import value, which speaks volumes on the leading position of the country in the global trade in both imports and exports,” said Satish Khanna, general manager of Al Fajer Information and Services, organiser of the show.
“Considering the remarkable role played by the UAE in the global trade, we anticipate great success for IATF 2012, which is regarded the leading regional buyer-seller meeting ground for the consumer goods segment in the Arab region. The show will feature 400 exhibitors from 20 countries. Ranked as one of the more popular general trade fairs in the region, IATF 2012 will occupy 8000 square meters of space,” Khanna added.
The exhibition’s significance is being held at a time when global consumer goods manufacturers are shifting their focus to developing economies. Dubai is ideally poised to gain as a trading hub for consumer goods being surrounded by fast growing markets of the Sub Continent and Africa.
This year, the fair will host the official national pavilions of six countries, occupying 90 per cent of the 8,000-square metres of exhibition space. The national pavilions will include 225 exhibitors from China, 35 from Hong Kong, 15 from Korea, 30 from India, 20 from Taiwan and 10 from Pakistan. Other countries participating at IATF2012 at individual levels include UAE, Netherlands, Turkey, Indonesia, Malaysia and Iran.
Khanna added: “IATF12 will unveil an exciting mix of products comprising cosmetics, foodstuffs, electronics, household appliances, plastic household products, toys, stationery, electrical items, handicrafts, carpets, garments, textiles, house ware, kitchen ware, sanitary ware, novelties, machinery, machine tools, hardware accessories and dairy products.”