UAE posts Dh134.7b trade surplus with GCC states for 2021

The UAE’s trade surplus with other GCC countries in 2021 was valued at Dh134.7 billion, according to data from the Federal Competitiveness and Statistics Centre.

The data shows a 26 per cent increase in trade between the UAE and GCC countries in 2021, with a value of Dh247.5 billion and weighing 68.7 million tonnes, compared to Dh196.5 billion in 2020 with a weight of 59.9 million tonnes.

In 2021, the total non-oil foreign trade was valued at nearly Dh1.9 trillion, reflecting a 27 per cent growth compared to 2020, and 11 per cent compared to 2019. In the first quarter of 2022, the non-oil foreign trade reached Dh499.7 billion, according to the Statistics Centre.

The UAE’s imports from the GCC countries in 2021 rose in value to Dh56.3 billion, weighing 27.9 million tonnes, compared to Dh3.8 billion with a weight of 26.5 million tonnes in 2020.

Non-oil exports to GCC countries at the end of 2021 stood at Dh71.9 billion, weighing 36.4 million tonnes, compared to Dh48.8 billion with a weight of 29.3 million tonnes at the end of 2020.

The value of re-exports at the end of 2021 amounted to Dh119.1 billion, weighing 4.3 million tonnes, compared to Dh103.8 billion with a weight of 4.08 million tonnes at the end of 2020.

In 2021, the value of UAE non-oil exports amounted to about Dh354 billion, a growth of 33.3 per cent as compared to 2020 and 47.3 per cent as compared to 2019. The total value of re-exports amounted to Dh521.3 billion, achieving a growth of 27.7 per cent compared to 2020 and 1.6 per cent compared to 2019. Meanwhile, the total value of the country’s imports during 2021 amounted to about Dhs1 trillion, a growth of 23.8 per cent as compared to 2020, and about 7.0 per cent compared to 2019.

The Q1 2022 figure of Dh499.7 billion marked a growth of 20.5 per cent over the Dh414.6 billion that the country reported in the same period in 2021. This figure is also up 26.3 per cent compared to the first quarter of 2019.

China was ranked first in the list of top 10 countries trading with the UAE in Q1 2022, valued at Dh57 billion, followed by India at Dh46.2 billion, and Saudi Arabia at Dh32.5 billion.

Gold topped the list of leading commodities included in the UAE’s non-oil foreign trade, with a value of Dh84.4 billion and accounted for 17 per cent of the country’s total non-oil foreign trade.

It was followed by diamonds at Dh40 billion, telephone and communication devices at a value of Dh37 billion, mineral oils with a value of Dh24.6 billion, ornaments and jewellery at Dh21 billion, and cars that were valued at Dh19.5 billion.

— issacjohn@khaleejtimes.com