UAE, Saudi Non-Oil Trade Jumps 9 Percent to Over AED136 Billion in 2022Source: www.export-egypt.com 2/22/2023, Location: Middle East |
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Preliminary data from the Federal Center for Competitiveness and Statistics indicates that non-oil trade exchange between the UAE and Saudi Arabia in 2022 experienced a growth rate of 9%, reaching AED136.09 billion, compared to AED124.6 billion at the end of 2021.
Over the period of 2013-2022, non-oil trade between the two countries increased by 70%, with the total non-oil trade over the past ten years amounting to AED975.5 billion. The volume of non-oil trade surpassed AED100 billion, with AED107.4 billion in 2018, approximately AED113 billion in 2019, and about AED104 billion in 2020. In 2022, non-oil trade between the UAE and Saudi Arabia consisted of AED34 billion worth of imports from Saudi Arabia to the UAE, while non-oil exports from the UAE to Saudi Arabia amounted to AED35.6 billion, and re-exports totaled AED66.4 billion. The top five commodities imported from Saudi Arabia in 2022 were mineral oils valued at AED10.8 billion, followed by ethylene polymers worth AED3.6 billion, raw gold worth AED1.7 billion, insulated wires and cables for electricity worth AED1.1 billion, and laundry products worth AED811 million. Raw gold topped the list of the top five commodities exported from the UAE to Saudi Arabia in 2022, valued at AED8.7 billion, followed by ornaments and jewelry worth approximately AED2.5 billion, copper wires worth AED2.4 billion, flat products of iron or steel worth AED891 million, and mineral oils worth AED829 million. Communication devices and equipment ranked first on the list of top five commodities re-exported from the UAE to Saudi Arabia in 2022, valued at AED9.1 billion, followed by data processing machines worth AED6.6 billion, parts and accessories for vehicles worth AED2.2 billion, woven clothing worth AED2.3 billion, and jewelry worth AED1.9 billion. |
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