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

Non-oil foreign trade between the UAE and Kuwait has grown 87 per cent over the past ten years to reach Dh43 billion by the end of 2022, compared to Dh23.3 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 Dh316.2 billion, of which re-exports constituted 53 per cent and valued at over Dh168 billion, non-oil exports represented 27 per cent and worth more than Dh85 billion, and imports were 20 per cent, to the tune of Dh62.8 billion.

Non-oil trade between the UAE and Kuwait grew 13 per cent, worth Dh5 billion last year, to reach Dh43.5 billion, compared to Dh38.5 billion in 2021.

Of the non-oil trade between the two countries during the previous year, re-exports were valued at Dh21.9 billion, non-oil exports Dh14.2 billion, and imports Dh7.3 billion.

Mineral oils topped the list of the top five commodities imported from Kuwait to the UAE during 2022, worth more than Dh6 billion; while raw gold topped the list of the top five commodities exported from the UAE to Kuwait, valued at Dh3.3 billion, followed by jewellery worth Dh3 billion. Communications equipment topped the list of top 5 commodities that were re-exported from the UAE to Kuwait during 2022, valued at Dh3.52 billion, followed by medicines and treatment drugs to the tune of Dh1.7 billion, and data processing machines worth Dh1.46 billion.

• Business