Friday 20 July 2018

UAE-China trade surges to top $141bn in 3 years

ABU DHABI, August 10, 2017

China continues to top the list of UAE's major trade partners for the third straight year, with total bilateral trade exchange amounting to Dh520.6 billion ($141.7 billion) from 2014 through 2016, according to Ministry of Economy statistics.

India came second followed by the US, while Saudi Arabia came fourth and then Germany fifth, reported Wam, the official Emirates news agency.

Despite the state of deceleration the world economy is going through, the UAE foreign trade continued to post fair growth, with trade exchange between UAE and China, for example, keeping proportional values over three years, edging down to Dh170.2 billion by end of 2016 from Dh174.6 in 2015 and Dh175.8 billion in 2014.

The UAE-India trade flows totalled around Dh386.4 billion over three years, with 2016 reporting the largest value of Dh131.8 billion against Dh125.8 billion in 2015 and Dh128.8 billion in 2014.

The total trade exchange between the UAE and USA amounted to Dh312.6 billion from 2014 through 2016, breaking a record last year of Dh111.1 billion against Dh102.2 billion in 2015 and Dh99.3 billion the preceding year.

Bilateral trade exchange with Saudi Arabia, which came fourth on the list of the country's top trade partners, amounted to Dh231 billion over three years, with 2015 reporting the height of trade flow value of Dh83.8 billion, from Dh75.6 billion in 2014 and Dh71.6 billion in 2016.

In the fifth position Germany came with a three-year total trade exchange of Dh171.8 billion, Dh9.1 billion of which was in 2016, Dh7.1 billion in 2015 and Dh5.6 billion in 2014.

Tags: China | foreign trade | UAE trade |

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