Ras Al Khaimah’s manufacturing sector exports grew 58% in 2019

Ras Al Khaimah’s manufacturing exports increased by 32 per cent between 2017 and 2019, hitting Dhs3.803bn in 2019, Ras Al Khaimah Chamber of Commerce and Industry revealed in a study issued by the Department of Studies and Commercial Cooperation.

“The share of manufactured exports in the emirate’s total exports increased from 41 per cent in 2017 to 58 per cent in 2019, which underscores the key role of the manufacturing sector in the economy of the emirate of Ras Al Khaimah,” said Mohamed Hassan Al Sabab, acting director general of RAK Chamber of Commerce and Industry.

“The manufacturing sector represents the safety valve that protects the economy against any repercussions, with the sector’s capacity to maintain its sustainability, generate income and continue to offer job opportunities. The steadiness of these productive industrial sectors is that they are closely associated to the basic essential consumer needs, despite the decline which may occur under the economic crisis, such as the current one,” he added.

Eman Al Hayyas, assistant director general of the Commercial Services and Business Development Sector in Ras Al Khaimah Chamber of Commerce and Industry said that the local exports memberships represented 56 per cent of the total industrial exports of RAK, reported official news agency WAM.

Of these, the industrial zone represented 41 per cent. The qualified industrial zones which include Al Jazeerah Al Hamra, Al Ghail and Khor Kuwair contributed 87.7 per cent of the total exports. These exports strengthened the trade relations with the emirate’s international partners, led by GCC countries, which contributed with 51 per cent of the emirate’s total industrial exports.

The number of exporting industrial companies reached 370, across business in five main production categories, including metal products, transport equipment, normal metals, video and audio recording systems, products of stone, gypsum or cement, which contributed 75 per cent of the total industrial exports.

On the other hand, the industrial exports represented 81 per cent of the total of 19,886 certificates of origin, which represented the number of deals concluded by the companies.

There are a total of 137 countries that imported products from Ras Al Khaimah.

Saudi Arabia was the biggest importer from Ras Al Khaimah receiving goods worth Dhs994m representing 26 per cent of the total industrial exports of the emirate, followed by Kuwait at Dhs384m representing 10 per cent of the emirate’s exports; India at Dhs343m with a share of 9 per cent; followed by the US (Dhs176m, 5 per cent); Oman (Dhs140m, 4 per cent) and Iraq (Dhs134m, 3.5 per cent).

Bangladesh, Egypt, Russia, Bahrain, Pakistan, Singapore, Ethiopia, Sudan and Algeria, respectively along with the rest of the 137 countries accounted for the rest.

“The export industries and the industrial exports in Ras Al Khaimah have a great role in maintaining the economic stability, with the diversity of the production sectors continue to lead Ras Al Khaimah economy scene as a key player and an effective engine that strengthen the emirate’s competitiveness,” said Al Sabab.