Media ININ Economy We Trust
Abu Dhabi on September 22
The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by 28% during 2022, recording 137.51 billion dirhams, compared to 107.41 billion dirhams in 2018, bringing the total non-oil trade between the two countries to 586.75 billion dirhams over five years at the end of last year, according to statistics from the Ministry of Economy.
Foreign trade between the two countries during the past year was distributed between 34.31 billion dirhams, the value of imports, 36.01 billion dirhams, the value of non-oil exports, and 67.18 billion dirhams in re-exports.
The statistics included data on trade exchange between the two countries during the period from 2018-2022, indicating the growth of trade exchange between the two sides in the year 2019 to reach 113.25 billion dirhams compared to 107.41 billion dirhams in the year 2018, and the year 2021 recorded growth to reach 124.65 billion dirhams compared to 103.91 in the year. 2020. The volume of trade exchange between the two sides last year reached 137.51 billion dirhams.
The fruitful relations between the two countries have reflected positively on the reality of comprehensive and sustainable development in the two countries in various fields, including the areas of trade exchange, economic cooperation and joint investment, in a way that serves the process of progress and sustainable development and is in the interest of improving the quality of life and the good and prosperity of the two brotherly peoples.
The Kingdom of Saudi Arabia ranked third on the list of the five largest countries receiving non-oil UAE exports during the first half of the year 2023, while UAE imports from Saudi Arabia constituted 25% of the total non-oil bilateral trade, while national exports and the return of UAE exports to Saudi Arabia constituted 75% during the year 2022.
Saudi Arabia was the third trading partner for the UAE’s non-oil trade with the world during the year 2022, while the UAE’s imports from Saudi Arabia grew during the year 2022 to reach 34.49 billion dirhams, a growth of 23% compared to the year 2018, while the UAE’s non-oil exports to Saudi Arabia grew during the year 2022 to reach 35.96. One billion dirhams, a growth of 14% compared to 2018.
The volume of UAE re-exports to Saudi Arabia grew during the year 2022 to reach 67.16 billion dirhams, a growth of 40% compared to 2018, while the UAE ranks second in the world in terms of the volume of Saudi foreign trade. The UAE is also the second trading partner in the world in terms of Saudi exports to the world, while the UAE comes in second place in the world in terms of the volume of Saudi foreign trade. The third trading partner in the world for Saudi Arabia’s imports from the world.
The economic, investment and trade cooperation relations between the UAE and Saudi Arabia are witnessing increasing growth in various fields, which contributes to the strengthening, development and prosperity of the two brotherly countries and peoples.
