Trade between UAE and France up by 16.8% in 2022 to Dhs29.5b

The trade exchange between the UAE and France grew by 16.8 per cent in 2022, reaching Dhs29.44 billion ($8 billion), compared to Dhs25.2 billion ($6.8 billion) in 2021, according to data from the Federal Competitiveness and Statistics Centre.

In 2022, the bilateral trade between the two countries consisted of imports valued at Dhs25.2 billion, while exports and re-exports were valued at approximately Dhs4.2 billion.

A report on the trade between the UAE and France showed that their international trade rose by 49 per cent over the past three years, rising from Dhs19.7 billion in 2020 to Dhs29.4 billion at the end of last year.

The report included data on trade between the two countries from 2013 to 2022, showing that their trade increased in 2014 to Dhs27.4 billion, compared to Dhs24.58 billion in 2013.

In 2015, the exchange between the two sides reached Dhs26.4 billion, rising to Dhs27.1 billion in 2016, Dhs26.8 billion in 2017, and more than Dhs28 billion in 2018, and over Dhs27.6 billion in 2019.

According to the report’s data, jewellery and precious metal products topped the list of the five leading commodities imported from France in 2022, with a value of Dhs2.96 billion, followed by jet engines valued at Dhs2.58 billion, perfumes at Dhs2.1 billion, medicines at Dhs1.4 billion, and bags at Dhs1.3 billion.

In terms of re-exports, aircraft parts topped the list with a value of Dhs1.1 billion, followed by jewellery and precious metal products worth Dhs421 million, jet engines worth more than Dhs200 million, cars worth Dhs146 million, and perfumes worth Dhs128 million. Meanwhile, packaging bottles were the UAE’s leading export commodity valued at Dhs88 million.

From 2012 to 2021, the value of the non-oil trade between the UAE and France increased by 8 per cent, from Dhs23.2 billion in 2012 to over Dhs25.2 billion in 2021, according to data from Federal Competitiveness and Statistics Centre, which showed a growth of 28 per cent in trade exchange over the past year compared with 2020, amounting to Dhs19.7 million.

Their non-oil trade over the past decade amounted to over Dhs256.15 billion, with a total weight of 8.28 million tonnes. UAE’s non-oil exports valued at over Dhs5.16 billion, weighing 957,830 tonnes; and re-exports worth over Dhs22 billion, weighing 198,220 tonnes. Imports from France were valued at Dhs228.9 billion, with a total weight of 7.12 million tonnes.

Ornaments, jewellery and related products came in the first place on the list of five leading goods imported from France in 2021, with a value of Dhs2.46 billion, followed by hand-made paintings and pictures at Dhs2.33 billion, perfumes and cosmetic water at Dhs1.73 billion, jets, propellants and gas turbines at Dhs1.37 billion, at medicines at Dhs1.3 billion.

French investors: French investors have strengthened their investments in the UAE financial markets over the past years amid the growing relations and strategic partnership between the UAE and France covering all areas, including stock markets.

This financial report by the Emirates News Agency (WAM) based on official data from the Dubai and Abu Dhabi markets highlights the fact that the value of French trades, both buying and selling, in local markets in 2022 totalled Dhs726.2 million spread across 130.5 million shares traded through 5,703 deals in 2022.

ADXFrench trading, both buying and selling, in the Abu Dhabi Securities Exchange (ADX) reached a value of Dhs386.4 million, executed through 3,848 transactions involving more than 58.3 million shares over the past year.In the past year, French investors purchased, in the Abu Dhabi market, around 20.76 million shares valued at more than Dhs165.8 million through 1,672 transactions, compared to some 37.5 million shares worth Dhs220.5 million executed through 2,176 transactions.The French are among the top 20 nationalities who invested in the ADX, ranking 18th in 2022.French traders have actively traded in the ADX over many years, with their trading values, both buying and selling, comprising as follows: 36.2 million shares worth Dhs77.5 million traded in 2017, 10.77 million shares worth Dhs45.9 million traded in 2018, 45.19 million shares worth Dhs156.26 million traded in 2019, 20.9 million shares worth Dhs110.03 million traded in 2020, and 54.18 million shares worth Dhs373.8 million traded in 2021.

DFMIn the Dubai Financial Market (DFM), French trades, both buying and selling, in 2022 reached a value of around Dhs340 million through 72 million shares traded over 1,855 transactions.In the past year, French investors made purchases in the Dubai market worth Dhs257.3 million through 889 transactions involving around 56.5 million shares, compared to sales worth Dhs82.4 million for 15.6 million shares traded through 966 transactions.French purchases in the Dubai market were 83.1 million shares worth Dhs70.9 million in 2017, more than 17.5 million shares worth Dhs26.87 million in 2018, over 41.5 million shares worth some Dhs68.2 million in 2019, and around 12.7 million shares worth Dhs29.7 million in 2020.