Abu Dhabi, March 30th, 2011 (WAM) -- A new study by the Ministry of Foreign Trade (MoFT) has revealed that the UAEs steel exports in 2009 accounted for 6.2 per cent of the countrys non-oil exports, ranking third in the harmonized commodity system, compared with 1.5 per cent for steel re-exports. Steel also accounted for 3.8 per cent of the UAEs total imports.
The study prepared by Ahmed Al-Ananba, a researcher at MoFT's Analysis and Trade Information Department, is a part of the ministrys efforts to contribute to trade policy and decision planning to achieve the goals of the United Arab Emirates and raise the awareness of the countrys business and investment community. The UAE ranked as the worlds 29th biggest steel exporter and came only after Turkey in the Middle East, meaning it is the largest Arab exporter of steel products which accounted for 0.8 per cent of the worlds total steel products in 2009. The UAE ranked 14th as the worlds largest importer of steel products and 2nd, after Turkey, in the Middle East and also 2nd, after Algeria, among Arab countries with the countrys share reaching 2 per cent of the total worlds steel imports in 2009. The study noted that the UAEs accounted for 66.8 per cent of the total steel exports of the Gulf Cooperation Council (GCC) which reached US$ 2.6 billion and also for 41.8 per cent of the blocs total steel imports which reached US$ 11.2 billion, according to data of the World Trade Organization of 2009. The study also noted that processing industries are among the most important ingredients of the UAEs non-oil sector and accounted for 16.2 per cent of the countrys GDP in 2009, ranking only second after mining industries, according to data from the UAEs National Statistics Center. Steel trade: The UAEs total steel trade in the first ten months of 2010 reached US$ 3.257 billion compared to US$ 6.385 billion in the whole year of 2009 and US$6.624 billion in 2008 despite a decrease of 24.4 per cent in qualities. In 2009, the countrys steel re-exports decreased by 8.2 per cent to US$ 613 million, compared with figures of 2008, while imports decreased by 17.2 per cent over 2008 to reach US$ 4.7 billion in 2009.Figures on the year 2009 show that 91.7 per cent of the UAEs steel products go to ten countries, with Qatar receiving as much as 77.7 per cent of them, followed by the U.S (3.6 per cent ), Oman (3.2 per cent ) and Singapore (2 per cent ), i.e. the four said countries receive 86.5 per cent of the UAEs total steel exports.
These top ten importers received US$ 79 million in steel from the UAE, accounting for 4.6 per cent of the total UAEs exports (exports and re-exports) in 2009. Five Arab countries were among the major destination of UAEs steel exports while the U.S , who was among the top ten importers in 2008 and 2009, was also the second largest importer during these two years. The UK and Singapore joined the list in 2009. The study shows that Iran imported 24.5 per cent of the UAEs total steel re-exports in 2009, followed by Qatar (19.5 per cent ), Iraq (6 per cent ), Saudi Arabia 3.4 per cent ), Tanzania (3.1 per cent ), Oman (2.9 per cent ), India (2.7 per cent ). Regarding imports, Saudi Arabia joined the list of the top UAEs steel importers in 2008 and 2009 replacing Turkey. South Korea was the top steel exporter to UAE (18.7 per cent ) followed by China (15.8 per cent ), India (8.3 per cent ), Japan (7.3 per cent ), Germany (6.5 per cent ), Saudi Arabia (4.8 per cent ), Italy (4.6 per cent ), France (4.2 per cent ), U.S (3.2 per cent ), UK (2.6 per cent ). These ten countries collectively accounted for 76.1 per cent of the UAEs steel imports in 2009. Global steel trade: Global crude steel output rose 15 percent in 2010 to 1.4 billion metric tones (mmt), a new record, according to the World Steel Association (WSA) in a report last January. World crude steel production reached 1,414 million metric tons for the year of 2010. This is an increase of 15 per cent compared to 2009 and is a new record for global crude steel production. All the major steel-producing countries and regions showed double-digit growth in 2010. The EU and North America had higher growth rates due to the lower base effect from 2009 while Asia and the CIS recorded relatively lower growth. In December 2010, world crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 116.2 mmt, an increase of 7.8 per cent compared to December 2009. The crude steel capacity utilization ratio of the 66 countries in December 2010 declined slightly to 73.8 per cent compared to 75.2 per cent in November 2010. Compared to December 2009, the utilization ratio in December 2010 is 1.1 percentage point higher. Global steel imports decreased by 24 per cent in 2009 to US$ 235 billion, down to US$ 312 billion in 2008 in the wake of the global financial crisis. Ten countries imported US$ 98 billion in steel products in 2009, accounting for 42 per cent of the global steel trade, with the U.S on the top of the list followed by Germany, France and China. The four countries accounted for 27 per cent of the total steel imports. Global steel exports, in 2009, totaled US$ 227 billion, down from US$ 307 in 2008. The average growth rate of steel exports between 2005-2009 was 9 per cent . The value of steel exports of the top ten countries totaled US$ 138 billion, accounting for as mush as 61 per cent of the global steel exports in 2009.Copyright Emirates News Agency (WAM) 2011.
