These figures actually represented declines over their corresponding levels in the first quarter of 2004 when France exported goods worth EUR 699 million to the UAE and imported goods worth EUR 119 million.
Mineral fuels accounted for 64 per cent of France's imports from the UAE, valued at EUR 53.4 million. Other goods with substantial share in the total value of imports were articles of apparel and garments, EUR 11.1 million; machinery and mechanical appliances, EUR 6.5 million; ceramic products, EUR 1.6 million; electrical and electronic equipment, EUR 1.5 million; and coffee, tea, mate and spices, EUR 1.2 million.
On the other hand, the largest contributors to the total exports of France to UAE were electrical machinery and electronic equipment, valued at EUR 102.6 million; machinery and mechanical appliances and parts, EUR 97.3 million; essential oils and resinoids, perfumery, cosmetics and toilet preparations, EUR 52.1 million; aircraft and parts, EUR 47 million; precision instruments and apparatus, EUR 30 million; motor vehicles, EUR 21.4 million; glass and glassware, EUR 17.7 million; and articles of iron or steel, EUR 16.7 million. France is the UAE's major supplier of aeroplanes and other aircraft of unladen weight exceeding 15,000 kilograms.
During the last five years, France's export to the UAE has been generally increasing, except for a slight decline in 2002. On the other hand, import has relatively been stable; with a slight downturn in 2003. Since France's imports from UAE had been very low compared to exports, trade between the two countries had been favorable to former. Trade surplus climbed up from EUR 2B in 2000 to EUR 2.7 billion in 2004.
During the last five years, UAE ranked as the 23rd largest market for France's exports and the 59th largest supplier of imports. However, in terms of trade surplus, UAE ranked 7th among countries giving France the largest surplus. On top of the list were the Republic of Congo, UK, Spain, Cameron and USA.In 2004, France's total trade with GCC countries was valued at EUR 11.3 billion, with 41 per cent of which being with Saudi Arabia from where France imported goods valued at EUR 3.1 billion. Trade between France and Saudi Arabia during the year netted the latter about EUR 1.7 billion. Saudi Arabia ranked as the 20th largest supplier of France, and as the 36th largest export market. However, it was the 9th in the list of countries that gave France trade deficits, which included Germany, China, Netherlands, Belgium, Switzerland, Norway, Russian Federation and Ireland.
The study takes into account premium office rents of Dubai International Financial Centre (DIFC) and Abu Dhabi Global Markets (ADGM)
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