UAE-Saudi Arabia non-oil foreign trade up by 92.5%

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UAE
  • Date: 23-Sep-2022
  • Source: Gulf Today
  • Sector: Oil & Gas
  • Country: UAE
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UAE-Saudi Arabia non-oil foreign trade up by 92.5%

The non-oil foreign trade between the UAE and Saudi Arabia grew by 92.5 per cent over the past decade to Dhs124.69 billion by the end of 2021, compared with Dhs64.79 billion by end of 2012, according to statistics from the Federal Competitiveness and Statistics Centre (FCSC). The trade exchange between the two countries in the first half of 2022 totalled Dhs65.7 billion, the statistics also showed. The total value of non-oil exports from the UAE to Saudi Arabia over the past ten years was around Dhs205.5 billion, while re-exports were valued at Dhs471.7 billion, and imports at Dhs227 billion. From 2012 to 2021, Saudi Arabia was the UAE’s fourth leading trading partner, with their trade exchange amounting to Dhs904.3 billion, or 5.6 per cent of the UAE’s total international trade. Saudi Arabia was ranked first in the list of countries that received re-exports from the UAE over the past 10 years, valued at nearly Dhs423 billion. It was also ranked second in the list of countries receiving Emirati non-oil exports, with a value of Dhs206 billion, constituting 9.5 per cent of the UAE’s total non-oil exports. According to the FCSC’s figures, the trade exchange between the two countries in 2013