Live Currency Rates
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE Ranked 3rd Globally in the Re-export of Plastics  Join our daily free Newsletter

MENAFN - Emirates News Agency (WAM) - 10/02/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Emirates News Agency (WAM)) An analytical study released by the Ministry of Foreign Trade today has revealed that UAE exports of plastics grew by 127 percent (USD 2.2 billion) from H1 2011 to H1 2012 - a figure that is 8 times larger than the growth rate achieved during the whole of 2011.

The study added that the UAE's foreign trade of plastics grew by 48 percent in the first six months of 2012 in comparison with the same period in 2011, increasing from USD 2.9 billion to USD 4.4 billion respectively - with plastics exports being the main driver of growth during that period.

The study, which was conducted by MoFT Economic Advisor Dr. Abdel Hamid Radwan under the supervision of Dr. Mattar Ahmad, Director of the Analysis and Trade Information Department at the Ministry, pointed out that the UAE came 3rd globally in the re-export of plastics in 2011, re-exporting a total of USD 444 million worth of the product - constituting a 3 percent share of the world's re-exports of plastics.

During the same year, Hong Kong came in first place globally in this regard, re-exporting 81 percent of the world's plastics (worth USD 13.3 billion), most of which headed to China.

Regionally, the study stated that the UAE produces 25 percent of all plastics produced within the Gulf Cooperation Council (GCC), pointing out that it has over 600 plastics factories spread out across the country's seven Emirates, with "Borouge" being the largest and most advanced plastics company in the country - expected to be able to solely produce 2.5 million tons of plastics in 2014 from the current capacity of just over 2 billion tons.

According to the study's findings, the UAE enjoys an evenly spread out plastics export structure that doesn't suffer the risks usually associated with exporting to specific geographic concentrations. It pointed out that 41 countries receive UAE exports of plastics worth over 10 USD million each, with India coming in first place in this regard, receiving USD 195 million worth of the product from the UAE (11 percent of the UAE's overall plastics exports) followed by China, which received USD 149 million (8 percent).

The study also pointed out that the UAE's imports of plastics reached USD 3.4 billion in 2011, up by 17.2 percent from 2010. The growth in imports increased in 2011 in continuation of the growth rate attained in 2010 (16.9 percent), recuperating from the negative ramifications of 2009. Saudi Arabia was the UAE's number one supplier of plastics (USD 682 million/20 percent of the country's total plastics imports) in 2011, followed by China in second place supplying USD 419 million and constituting a 12 percent share.

With regards to re-exports, the study revealed that the UAE's re-exports of plastics grew by 8 percent from 2010 - 2011 (USD 444 million) and that it is continuing to witness more growth. It pointed out that three countries received a third of the UAE's re-exports of plastics, with Iran coming in first place (USD 106 million - 24 percent of the UAE's total plastics re-exports), followed by Tanzania (USD 21 million - 5 percent) and Afghanistan (USD 19 million - 4 percent).

The study also pointed out that the value of the UAE's re-exports to China was only USD 7 million, which is small amount when compared with the South East Asian country's total imports of the product, around USD 70 billion last year, which calls for more efforts to be exerted through fairs and during bilateral meetings to increase the country's plastics re-exports and exports.

It also revealed that the global trade of plastics exceeded the USD 1 trillion mark in 2011, reaching a total of USD 1.11 trillion, with imports and exports owning around a 50 percent share each.

China alone owns a 10.4 percent share (USD 115.6 billion) of the world's plastics trade, followed by Germany (USD 105.6 billion) and the United States of America (USD 100 billion), with all three combined being responsible for a third of the world's plastics trade.

 






  MENA News Headlines
Apr 23 2014Omantel launches service package for youth ,MENAFN
(MENAFN) Omantel announced launching 'Ozone' plan, a new package designed especially for the youth. This comes with the company"s constant efforts to enhance the communication needs of its customers, ...

Apr 23 2014Dh154 billion for Arabtec projects ,Khaleej Times
(MENAFN - Khaleej Times) Arabtec will spend dh140 billion on building one million low-cost houses in egypt and dh14 billion on five mixed-use residential projects in abu dhabi and dubai its chief ...

Apr 23 2014?Titli? makers excited about Cannes selection ,Khaleej Times
(MENAFN - Khaleej Times) The movie about the badlands of delhi?s dystopic underbelly will be in competition as part of the un certain regard section of the 67th cannes film gala to be held may ...

Apr 23 2014Saudi- Yaroub Bashraheel: In search of peace ... underwater ,Arab News
(MENAFN - Arab News) You've heard of diving snorkeling and other water activities but rarely has anyone heard of free-diving. it's a form of diving underwater without the aid of any breathing ...

Apr 23 2014Saudi- Schneider highlights intelligent health care solutions at forum ,Arab News
(MENAFN - Arab News) Schneider electric a global specialist in energy management is set to showcase its leadership in intelligent health care solutions at the second saudi forum for planning and ...

Apr 23 2014Saudi- Divorcees can seek housing ,Arab News
(MENAFN - Arab News) The kingdom will accept applications from saudi divorced women and widows for financial and housing support said justice minister muhammad al-issa.al-issa called on applicants ...

Apr 23 2014Saudi- New passport office opens at Red Sea Mall ,Arab News
(MENAFN - Arab News) The passport department has opened a new office for citizens and residents at the red sea mall.gen. abdul rahman bin abdullah al-tuwairki deputy director general of the ...

Apr 23 2014Kowait- Police deportation powers curbed ,Arab Times
(MENAFN - Arab Times) Kuwait city april 3 (afp): kuwaiti police will no longer be able to deport expatriates without interior ministry approval under new rules published thursday after officers ...

Apr 23 2014Kowait- Amiri Diwan urges all off tape case ,Arab Times
(MENAFN - Arab Times)  kuwait city april 9 (agencies): the amiri diwan has called on everybody to steer clear of the controversial tape issue and let the public prosecution take the necessary ...

Apr 23 2014Saudi Savola Group revenue up 43 pct in Q1 ,MENAFN
(MENAFN) Saudi Arabia's Savola Group registered a 43 percent increase in profits in the first quarter, well over expectations of analysts, Arabian Business reported. According to a statement to ...

Apr 23 2014Dewa and GE explore collaboration opportunities ,Khaleej Times
(MENAFN - Khaleej Times) Saeed mohammed al tayer managing director and chief executive officer of the dubai electricity and water authority (dewa) recently received a ge delegation to explore ...

Apr 23 2014Local international companies come out in force ,Khaleej Times
(MENAFN - Khaleej Times) Cityscape abu dhabi has started showing stronger interest from property developers who have showcased their upcoming projects. the three-day realty show was opened by ...

Apr 23 2014Tamouh steps up activity on projects ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi-based real-estate developer tamouh has scaled up construction activity on all of its announced reem island projects to meet the rising demand for prime spaces in ...

Apr 23 2014Kowait- New hospital to be ready by 2014 end ,Arab Times
(MENAFN - Arab Times) Kuwait city jan 14 (kuna): director of the 'mega projects 3' group at kuwait oil company (koc) yaqoub dashti said on tuesday that the new ahmadi hospital would be ready to ...

Apr 23 2014Seven tied for the lead in chess championships ,Khaleej Times
(MENAFN - Khaleej Times) Former champion sukandar grabs lead of asian continental women?s chess. former asian women’s champion wgm irene sukandar of indonesia (left) beat wim ni shiqun ...

Apr 23 2014ADCB NIC in Dh950 million deal ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi commercial bank or adcb this week inked a dh950 million term facility to provide national investment corporation or nic the developer of the breakwater area in ...

Apr 23 2014Gitex Shopper Spring 2014 to open doors today ,Khaleej Times
(MENAFN - Khaleej Times) Gitex shopper spring 2014 is set to open doors today with best bargains on latest tech products along with millions of dirhams worth of prizes during the four-day ...

Apr 23 2014Here?s your chance to share screen space with SRK ,Khaleej Times
(MENAFN - Khaleej Times) Groupon india has joined hands with srk?s red chillies entertainment to give fans a chance to feature with the superstar in his upcoming film ?happy new year?. if you ...

Apr 23 2014Lebanon sends trapped citizens aid ,Arab News
(MENAFN - Arab News) Ras al-harf: lebanese authorities on tuesday sent a rare aid convoy to the town of tufeil an island of lebanese territory inside syria where thousands have become trapped in ...

Apr 23 2014Two suspects held for robbing pedestrians in Sharjah ,Khaleej Times
(MENAFN - Khaleej Times) The sharjah police on tuesday arrested two stateless citizens for allegedly robbing many persons posing as criminal investigation department (cid) officers. the suspects ...

more...


 
Live Currency Rates






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help