An analytical study released by the Ministry of Foreign Trade on Saturday has revealed that UAE exports of plastics grew by 127 per cent ($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 per cent in the first six months of 2012 in comparison with the same period in 2011, increasing from $ 2.9 billion to $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 $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 $13.3bn), most of which headed to China.
Read more: http://www.gulfbase.com/news/uae-ranked-3rd-globally-in-re-export-of-plastics/228789
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