(MENAFN - Qatar News Agency) According to a study released here on Saturday by the UAE Ministry of Foreign Trade, the total trade exchange between the UAE and Italy has reached around AED 18.475 Billion during the first eight months of 2012 , with the UAE being the 4th largest exporter of Aluminium to Italy .
Trade between the two countries witnessed steady growth with UAE non-oil exports to Italy increasing by 78%(AED 1.83 billion) from 2010 - 2011, re-exports increase by 23 % (AED 827 Million) and imports increasing by 33 % during the same period, putting the final figure of non-oil foreign trade between the two countries - in 2011 - at around AED 21.9 Billion, up by 33 % from 2010, the study revealed. According to the study, conducted by the aforesaid ministry Researcher Ahmad Ananbeh, and supervised by the Director of the ministry's Analysis and Trade Information Department, Dr. Mattar Al Ali, the Geographic Distribution ,the study also revealed that Italy was the UAE's 11th largest non-oil trading partner in 2011, coming in 19th in its imports from the UAE and 8th in its exports to the UAE during the same year.
Touching on free zones, the study showcased that the UAE Free Zones have witnessed a noticeable growth in overall trade with Italy (including non-oil trade), increasing from AED 210.5 Million in 2009 to AED 373.3 Million in 2011, achieving a growth of 77 % in comparison with 2009 and 22 % in comparison with 2010, and reaching AED 227 Million during the first half of 2012. UAE Free Zones imports from Italy also witnessed noticeable growth, increasing from AED 2.964 Billion in 2009 to AED 4.409 Billion in 2011 (achieving a growth of 49 % during that period), with imports during the first half of 2012 exceeding AED 2.397 Billion.
As regards exports,the study also revealed that there was an 86 % increase in the exports of the UAE's top ten non-oil commodities exported to Italy from January - August 2012. Aluminium was the most exported commodity to Italy from the UAE, the 4th largest manufactured Aluminium exporter to the south European country. The UAE was also the 4th largest exporter of ceramics to Italy in 2011, preceded by Spain, China and Portugal.