UAE, Saudi non-oil trade jumps 9% to over Dh136 billion in 2022

Preliminary data from the Federal Centre for Competitiveness and Statistics indicates that non-oil trade exchange between the UAE and Saudi Arabia in 2022 experienced a growth rate of nine per cent, reaching Dh136.09 billion compared to Dh124.6 billion at the end of 2021.

Over the period of 2013-2022, non-oil trade between the two countries increased by 70 per cent, with the total non-oil trade over the past ten years amounting to Dh975.5 billion.

The volume of non-oil trade surpassed Dh100 billion, with Dh107.4 billion in 2018, approximately Dh113 billion in 2019, and about Dh104 billion in 2020.

In 2022, non-oil trade between the UAE and Saudi Arabia consisted of Dh34 billion worth of imports from Saudi Arabia to the UAE, while non-oil exports from the UAE to Saudi Arabia amounted to Dh35.6 billion, and re-exports totalled Dh66.4 billion.

The top five commodities imported from Saudi Arabia in 2022 were mineral oils valued at Dh10.8 billion, followed by ethylene polymers worth Dh3.6 billion, raw gold worth Dh1.7 billion, insulated wires and cables for electricity worth Dh1.1 billion, and laundry products worth Dh811 million.

Raw gold topped the list of the top five commodities exported from the UAE to Saudi Arabia in 2022, valued at Dh8.7 billion, followed by ornaments and jewellery worth approximately Dh2.5 billion, copper wires worth Dh2.4 billion, flat products of iron or steel worth Dh891 million, and mineral oils worth Dh829 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 Dh9.1 billion, followed by data processing machines worth Dh6.6 billion, parts and accessories for vehicles worth Dh2.2 billion, woven clothing worth Dh2.3 billion, and jewellery worth Dh1.9 billion. — Wam

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