Bilateral trade between UAE and Kuwait grows 87% in 10 years

Bilateral trade between UAE and Kuwait grows 87% in 10 years

ABU DHABI, 24th February, 2023 (WAM) -- Non-oil foreign trade between the UAE and Kuwait has grown 87 percent over the past ten years to reach AED43 billion by the end of 2022, compared to AED23.3 billion in 2013, according to preliminary data issued by the UAE's Federal Competitiveness and Statistics Centre (FCSC).

The FCSC data showed that the total trade between the two countries during 2013-2022 amounted to AED316.2 billion, of which re-exports constituted 53 percent and valued at over AED168 billion, non-oil exports represented 27 percent and worth more than AED85 billion, and imports were 20 percent, to the tune of AED62.8 billion.

Non-oil trade between the UAE and Kuwait grew 13 percent, worth AED5 billion last year, to reach AED43.5 billion, compared to AED38.5 billion in 2021.

Of the non-oil trade between the two countries during the previous year, re-exports were valued at AED21.9 billion, non-oil exports AED14.2 billion, and imports AED7.3 billion.

Mineral oils topped the list of the top five commodities imported from Kuwait to the UAE during 2022, worth more than AED6 billion; while raw gold topped the list of the top five commodities exported from the UAE to Kuwait, value at AED3.3 billion, followed by jewellery worth