Thursday 22 October 2020

Abu Dhabi-Saudi non-oil trade tops $134bn in 10 years

ABU DHABI, 28 days ago

The value of non-oil trade in goods between the Emirate of Abu Dhabi and Saudi Arabia amounted to AED493.8 billion ($134.4 billion) over the past 10 years, a media report said.

Last year saw AED55.3 billion of total trade exchanges, a growth of 83.9 percent over 2010 when the total trade volume between the two sides stood at AED30.05 billion, reported state news agency Wam, citing figures released by Abu Dhabi Customs.

The value of Abu Dhabi’s non-oil exports to Saudi Arabia jumped to AED196.17 billion over the decade, while re-exports stood at AED180.09 billion, and imports to AED117.50 billion.

Last year, the emirate's exports to Saudi Arabia grew 156.7 pct to AED25.76 billion from AED10.03 billion in 2010. Re-exports increased as well 67.9 percent to AED17.35 billion during the same reference period, with the Kingdom remaining the emirate's top trading partner over the decade.

Speaking to the Emirates News Agency, Rashid bin Lahij Al Mansouri, Director General of General Administration for Customs in Abu Dhabi, said the Kingdom of Saudi Arabia is a key strategic partner of the UAE thanks to the common views and robust cooperation ties maintained by the leadership of the two nations and their continual exchange of expertise and transfer of knowledge, which, he said, has reflected in streamlining traffic between their ports.


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