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Gold exports boost UAE trade

Gold exports from the UAE ave surged on the back of high prices, elevating its total non-oil trade by nearly 14 percent, official figures show.
Most of the increase in gold exports went to India and Switzerland.
The UAE's trade excluding oil and gas exports swelled to nearly Dh754.4 billion ($205.3 billion) in 2010 to allow the country to maintain its position as the second largest Arab economy and commercial centre after Saudi Arabia.
The UAE's total non-oil trade excluding gold and precious metal sales grew by only about 5 percent in 2010 Exports soared by around 27 percent to Dh83.1 billion last year as a result of a 37 percent leap in exports of gold and other precious metals.
The UAE's exports covered 198 markets around the world but nearly 77 percent of the exports were concentrated in 12 markets, including the country's traditional trade partners India, China , other Asian nations and Europe.

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