UAE, Kuwait non-oil trade grows 87% over decade

Non-oil foreign trade between the UAE and Kuwait has grown 87 per cent over the past ten years, according to preliminary data issued by the UAE’s Federal Competitiveness and Statistics Centre (FCSC).

Non-oil foreign trade rose from Dhs23.3bn recorded in 2013 to reach Dhs43bn by the end of 2022. It grew 13 per cent, compared to Dhs38.5bn in 2021.

Of the non-oil trade between the two countries during the previous year, re-exports were valued at Dhs21.9bn, non-oil exports stood at Dhs14.2bn, and imports equalled Dhs7.3bn.

Mineral oils topped the list of the top five commodities imported from Kuwait to the UAE during 2022, worth more than Dhs6bn; while raw gold topped the list of the top five commodities exported from the UAE to Kuwait, value at Dhs3.3bn, followed by jewellery worth Dhs3bn.

Communications equipment topped the list of top five commodities that were re-exported from the UAE to Kuwait during 2022, valued at Dhs3.52bn, followed by medicines and treatment drugs to the tune of Dhs1.7bn, and data processing machines worth Dhs1.46bn.

However, total trade between the two countries during 2013-2022 amounted to Dhs316.2bn, of which re-exports constituted 53 per cent and valued more than Dhs168bn; non-oil exports represented 27 per cent and was worth more than Dhs85bn; and imports totalled 20 per cent, equalling Dhs62.8bn.

The UAE and Kuwait also linked their traffic systems, it was announced earlier this month.

Read: UAE, Kuwait link traffic systems

The linkage of the traffic systems would be completed within an integrated Gulf project aimed at exchanging information, unifying procedures and facilitating services.