UAE is 3rd globally in plastics re-export

Source：Khaleej Times Release Date：2013-02-11 251

Plastics & Rubber

UAE exports of plastics grew by 127 per cent, or $2.2 billion, from the first half of 2011 to the second half of 2012 — a figure that is eight times larger than the growth rate achieved during the entirety of 2011.

A study released by the Ministry of Foreign Trade (MoFT) showed that the United Arab Emirates (UAE) exports of plastics grew by 127 percent, or $2.2 billion, from the first half of 2011 to the second half of 2012 — a figure that is eight times larger than the growth rate achieved during the entirety 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 $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 third globally in the re-export of plastics in 2011, re-exporting a total of $444 million worth of the product — constituting a three per cent 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 $13.3 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, 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 tonnes of plastics in 2014 from the current capacity of just over two billion tonnes.

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 million each, with India coming in first place in this regard, receiving $195 million worth of the product from the UAE (11 per cent of the UAE’s overall plastics exports) followed by China, which received $149 million (eight per cent).

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