The volume of non-oil foreign trade with the world amounted to $400 billion last year, the Federal Competitiveness and Statistics Center (FCSC) in the UAE stated.
The UAE said that its non-oil exports rose in 2020, by 10.1% compared to the previous year.
UAE’s non-oil national exports during the year 2020 rose to the equivalent of 23.4 billion dirhams ($6.81 billion), to reach 254.6 billion dirhams ($74.14 billion) compared to 2019, FCSC said.
The value of the country’s imports amounted to 785.1 billion dirhams ($228.61 billion), representing 56% of the total trade, and re-exports with a value of 363.4 billion dirhams ($105.82 billion), representing 26% of the total trade, FCSC said.
China topped the UAE’s most important trading partners, with merchandise trade with it reaching 174 billion dirhams ($50.67 billion), followed by Saudi Arabia with 104 billion dirhams ($30.28 billion).
India came in third place as one of the state’s most important strategic partners, with a value of 102.5 billion dirhams ($29.85 billion), followed by the United States of America with a value of 80.2 billion dirhams ($23.35 billion), and Iraq with a value of 53 billion dirhams ($15.43 billion).
The first five countries combined during 2020 accounted for 36.6% of the country’s total non-oil foreign trade, while in 2019 it represented 44.1%, which the UAE considered “a strengthening of the competitive position in the index of focus on exports from partners.”
At the level of the five most important markets for imports to the UAE, China topped the first place with a value of 144.4 billion dirhams ($42 million), followed by the United States of America with 60.5 billion dirhams ($17.62 billion).
It was followed by India with 60.5 billion dirhams ($17.62 billion), Japan with 34.7 billion dirhams ($10.10 billion) and Germany with 26.7 billion dirhams ($7.77 billion), with the first five countries contributing 41.6% of the total volume of imports to State, China alone accounted for 18.4%.
On the side of the country’s total non-oil trade of the most important commodities, it topped the trade of raw and semi-worked gold, with a value of 242.43 billion dirhams ($70.59 billion), and telephone equipment, including cellular and wireless network devices, with a value of 150.07 billion dirhams ($43.70 billion).