UAE’s non-oil foreign trade rises 27% in 2021

The UAE’s non-oil foreign trade in 2021 amounted to nearly Dhs1.9tn, reflecting a 27 per cent growth compared to 2020, and by 11 per cent compared to 2019.

The value of national non-oil exports amounted to about Dhs354bn, a growth of 33.3 per cent as compared to 2020 and 47.3 per cent as compared to 2019. The total value of re-exports amounted to Dhs521.3bn, achieving a growth of 27.7 per cent compared to 2020 and 1.6 per cent compared to 2019. Meanwhile, the total value of the country’s imports during 2021 amounted to about Dhs1tn, a growth of 23.8 per cent as compared to 2020, and about 7 per cent compared to 2019.

China ranked first as the country’s largest trading partner in 2021, accounting for 11.7 per cent of the UAE’s total foreign trade, and the value of non-oil trade exchange between the two countries amounted to Dhs212bn, a growth of 27 per cent from 2020 and 19.8 per cent from 2019.

ضمن تطورات الدولة الاقتصادية حققت تجارتنا الخارجية غير النفطية في ٢٠٢١ قفزة بنسبة ٢٧٪ عن السنة التي قبلها و١١٪ عن ٢٠١٩، حيث بلغت ١.٩ تريليون درهم .. انطلاقتنا بعد كوفيد قوية..ونمونا الاقتصادي تصاعدي..وابتعادنا عن الاعتماد على النفط يصل لمرحلة الاستدامة.. والقادم أجمل بإذن الله..

— HH Sheikh Mohammed (@HHShkMohd) February 27, 2022

India ranked second, accounting for 8.7 per cent of the country’s total non-oil trade, with a value of Dhs164.4bn, followed by Saudi Arabia with a contribution of 6.6 per cent and a value of Dhs125bn during 2021, achieving a growth of 20 per cent compared to 2020 and 10.1 per cent compared to 2019.

The US came in fourth, as its trade exchange with the UAE has grown by 8.1 per cent compared to 2020, while Iraq ranked fifth.  India emerged as the top importer, accounting for 13.8 per cent of the country’s total exports, receiving Dhs50bn worth of UAE exports, a growth of 150 per cent from 2020 and about 100 per cent from 2019.

Saudi Arabia became second largest recipient of UAE exports, with a contribution of 10.7 per cent, receiving Dhs38bn of the country’s exports, achieving a growth of 48 per cent compared to 2020 and by 22.4 per cent compared to 2019.

Abdulla Bin Touq Al Marri, Minister of Economy, said: “The UAE’s foreign trade has by far passed the stage of recovery from the Covid-19 fallout on a global scale and has entered an advanced stage of growth and prosperity, as it saw over 11 per cent growth compared to the pre-pandemic stage. The all-encompassing positive results seen across import, export and re-export activities in all the emirates indicate a systematic and integrated growth powered by flexible and highly efficient trade policies and foundations for sustainable development.”

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, noted “These results are driven by the launch of the Projects of the 50 and the continuous efforts being made to enhance the UAE’s position on the international trade map and ensure an attractive, vibrant trade environment that is open to the world and linked to a strong and diverse network of global supply chains. These efforts have laid solid foundations to sustain the growth of the country’s foreign trade over the coming years.”