Thursday , June 27 2019

UAE-Saudi non-oil trade surges to $196bn in H1

Abu Dhabi / WAM

The UAE-Saudi non-oil trade has grown 1230 percent since the establishment of the GCC Customs Union in 2003 until H1 2018, according the statistics of the UAE Federal Customs Authority (FCA).
The total non-oil intra-trade between the two countries amounted to AED720 billion ($196 billion) during the monitored period, with total UAE imports from the Kingdom hitting AED244.2 billion ($67 billion) and exports to AED144.8 billion ($39.7 billion), said an FCA report. UAE re-exports totalled AED330.9 billion ($90.6 billion) during the same period.
“Saudi Arabia is a strategic partner of the UAE which in the same time constitutes a major trade gateway for the Kingdom, a country that continues to be among the key partners of the UAE across the Arab world and Middle East region,” said Ali bin Sobeih Al Kaabi, Chairman of the FCA.

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