Trade between the UAE and Saudi Arabia surged by 28% leading up to 2022, as per official data.
The trade volume between these nations reached AED 137.51B ($37.4B), up from AED 107.41B ($29.2B) in 2018. This results in a cumulative non-oil trade of AED 586.75B ($160B) over a five-year period.
UAE-Saudi trade
In 2022, data from the Ministry of Economy revealed that the bilateral trade was split into AED 34.31B ($9.3B) in imports, AED 36.01B ($9.8B) in non-oil exports, and AED 67.18B ($18.3B) in re-exports.
The statistics covered trade exchange between the two nations from 2018 to 2022, illustrating the growth in 2019 to AED 113.25B ($30.8B), compared to AED 107.41B ($29.2B) in 2018.
In 2021, trade reached AED 124.65B ($34B), compared to AED 103.91B ($28.3B) in 2020, according to Arabian Business.
In the past year, trade between these two nations reached AED 137.51B ($37.4B).
The strong bilateral connections between these countries have had a positive impact on comprehensive and sustainable development in multiple sectors, including trade, economic cooperation, and joint investments. This aids in advancing sustainable development and enhancing the well-being and prosperity of both countries.
Saudi Arabia Ranks Third in UAE’s Non-Oil Exports
During the first half of 2023, Saudi Arabia achieved the third position among the top five destinations for non-oil exports from the UAE.
Approximately a quarter of the UAE’s non-oil bilateral trade comprised imports from Saudi Arabia, while national exports and re-exports to Saudi Arabia accounted for 75% in 2022.
Saudi Arabia held the position of being the UAE’s third-largest trading partner for non-oil global trade in 2022.
In 2022, the UAE’s imports from Saudi Arabia increased to AED 34.49B ($9.4B), representing a 23% rise from 2018. The non-oil exports from the UAE to Saudi Arabia also expanded, reaching AED 35.96B ($9.8B) in 2022, a 14% increase from 2018.
The value of UAE re-exports to Saudi Arabia rose to AED 67.16B ($18.3B) in 2022, marking a 40% increase from 2018.
The UAE continues to be the second-largest re-export market for Saudi Arabia, the second-largest export destination, and the third-largest source of imports for Saudi Arabia.
Economic, investment, and trade relations between the UAE and Saudi Arabia are witnessing robust growth across various sectors. This contributes to the reinforcement, development, and prosperity of both nations and their populations.
