CAIRO/MOSCOW: The non-oil commerce surplus of the UAE with the Gulf Cooperation Council widened by a yearly charge of 353 p.c in the primary 9 months of 2021, information from the nation’s Federal Competitiveness and Statistics Center confirmed.
The commerce surplus reached 13.5 billion dirhams ($3.7 billion) through the interval. Non-oil exports to the area expanded by 51.4 p.c to hit 53.9 billion dirhams, whereas imports went up by a decrease 23.7 p.c to face at 40.4 billion dirhams.
Some 21.7 p.c of the UAE’s outgoing non-oil shipments have been directed at GCC nations in the nine-month interval ending in September this 12 months.
In 2020, the highest non-oil gadgets exported to Saudi Arabia have been base metals; pearls, stones; valuable metals, and chemical substances and associated merchandise.
The subsequent hottest exports have been foodstuffs, drinks, spirits and tobacco and byproducts, adopted by plastics, rubber and associated gadgets.
In the primary 9 months of 2021, the UAE’s exports to Saudi Arabia grew by an annual charge of 60.5 p.c to hit 29.2 billion dirhams.
They accounted for 54.2 p.c of whole non-oil exports to GCC nations, in response to official information. The UAE recorded a non-oil commerce surplus of 9.7 billion dirhams with the Kingdom, in contrast with a a lot decrease surplus of 0.97 billion dirhams recorded throughout the identical interval final 12 months.
Oman got here second because the Emirates offered merchandise price 11.4 billion dirhams to the nation. This mirrored a 21.2 p.c share of whole non-oil exports to the GCC. Kuwait adopted with a share of 17.7 p.c.
On a worldwide degree, the Kingdom was the second largest recipient of Emirati non-oil items, with a share of 11.2 p.c, behind India’s 14.7 p.c. Saudi Arabia additionally acquired the best worth of re-exports from the UAE.
Re-exports are commodities that have been beforehand imported by the nation and are then exported once more with out including any worth.
The UAE’s whole commerce — which incorporates re-exports — with the bloc was valued at 178.8 billion dirhams in this 12 months’s first three quarters. This represented 13.9 p.c of the nation’s world commerce.
Last 12 months, the nation’s commerce with the GCC was decrease, at 153.7 billion dirhams, but it had a barely larger 14.9 p.c of the UAE’s whole worldwide commerce.
Non-oil commerce figures for the UAE embody mineral fuels, mineral oils and merchandise of their distillation, in addition to bituminous substances and mineral waxes. This group often makes up between 4 and 7 p.c of whole non-oil commerce.