UAE, Saudi non-oil trade jumps 9% to over Dhs136b

Preliminary data from the Federal Center for Competitiveness and Statistics indicates that non-oil trade exchange between the UAE and Saudi Arabia in 2022 experienced a growth rate of 9%, reaching Dhs136.09 billion, compared to Dhs124.6 billion at the end of 2021.

Over the period of 2013-2022, non-oil trade between the two countries increased by 70%, with the total non-oil trade over the past ten years amounting to Dhs975.5 billion.

The volume of non-oil trade surpassed Dhs100 billion, with Dhs107.4 billion in 2018, approximately Dhs113 billion in 2019, and about Dhs104 billion in 2020.

In 2022, non-oil trade between the UAE and Saudi Arabia consisted of Dhs34 billion worth of imports from Saudi Arabia to the UAE, while non-oil exports from the UAE to Saudi Arabia amounted to Dhs35.6 billion, and re-exports totaled Dhs66.4 billion.

The top five commodities imported from Saudi Arabia in 2022 were mineral oils valued at Dhs10.8 billion, followed by ethylene polymers worth Dhs3.6 billion, raw gold worth Dhs1.7 billion, insulated wires and cables for electricity worth Dhs1.1 billion, and laundry products worth Dhs811 million.

Raw gold topped the list of the top five commodities exported from the UAE to Saudi Arabia in 2022, valued at Dhs8.7 billion, followed by ornaments and jewelry worth approximately Dhs2.5 billion, copper wires worth Dhs2.4 billion, flat products of iron or steel worth Dhs891 million, and mineral oils worth Dhs829 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 Dhs9.1 billion, followed by data processing machines worth Dhs6.6 billion, parts and accessories for vehicles worth Dhs2.2 billion, woven clothing worth Dhs2.3 billion, and jewelry worth Dhs1.9 billion.