Saudi Arabia tops 2020 list of UAE export markets

Saudi Arabia tops 2020 list of UAE export markets

DUBAI: Saudi Arabia was the UAE's top export market last year, with exports and re-exports from the emirates to the Kingdom amounting to 73.58 billion UAE dirhams ($20.04 billion) during the first nine months of 2020.

The latest figures from the UAE's Federal Competitiveness and Statistics Centre reported that the Emirates exported to 230 countries in 2020, up from 200 in 2019.

While Saudi Arabia took the top spot as the biggest export destination for the UAE, second was Iraq with 36.5 billion dirhams followed by Switzerland (33.47 billion), India (24.78 billion), Oman (24 billion), China (22 billion), Hong Kong (20.4 billion), Kuwait (16.1 billion), the US (13.1 billion) and Italy (12.75 billion).

In total, the UAE earned 460 billion dirhams from foreign trade in the first nine months of 2020, despite the slowdown as a result of the coronavirus pandemic.