Iraq, the third in the supply of gold bullion to the UAE valued at $ 1.27 billion

BAGHDAD / JD / .. solving Iraq ranked third in the supply of gold bullion to the UAE valued at $ 1.27 billion.
According to a study prepared by the Ministry of Foreign Trade Emirati newspaper (statement) UAE: The value of UAE foreign trade of gold bullion in the past five years (from 2007 to 2011) about 390.85 billion dirhams (equivalent to 106.5 billion U.S. dollars) while the value of the country's exports of these alloys During the same period 192.3 billion dirhams (52.4 billion dollars) and imports 196.71 billion dirhams (53.6 billion dollars). Thus comes the UAE among the top five in the world trade of gold bullion.
The study added that the value of imports of gold bullion amounted to $ 17.1 billion in the year 2011 with a growth rate of 47% compared to 2010, and that percentage is equal to the growth rate of world imports that have achieved a 47% growth rate in the same year.
Among the study, said Switzerland of the biggest suppliers of alloy gold for the UAE in 2011 worth 2.17 billion dollars and a contribution rate of 12.7% in the second came Sudan worth $ 1.97 billion and a contribution rate of 11.6% and then Iraq in third place worth $ 1.27 billion and the percentage of 7.5%.
The study also showed that the observation noteworthy is that the African market in general the percentage of their contribution to the share of imports Emirates of gold bullion 43%, and illustrates the importance of the African market in the coverage of imports by the UAE, which requires the support of UAE investments in expansion in exploration and production in those markets in particular and the world in general, and focus on the marketing of these investments through the posts and the establishment of specialized exhibitions and conferences so.
The study indicated that the value of imports of international gold bullion amounted to 158.7 billion dollars in 2011 with a growth rate of 47% compared to 2010 with the observation that the rate of growth in the value of import was due to two factors: first the amount that has been growing by 14% and Group II high price as the average value ounce price of gold 1571 dollars in 2011, up $ 347 price for the year 2010 an increase of 28%.