During the first quarter of 2020

5.37 billion dirhams, the surplus of the UAE trade balance with 4 Gulf countries

UAE trade accounted for 25% of the total trade in the region.

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The surplus of the UAE's trade balance with four Gulf states amounted to about 5.37 billion dirhams during the first quarter of 2020.

The surplus recorded in the trade balance came as a result of the increase in the UAE's exports (not including re-export trade) to the four countries, to the level of 17.83 billion dirhams, during the period from January to March of this year, while the value of its imports from these countries amounted to approximately 12.46 billion dirhams, according to the figures Issued by the Federal Center for Competitiveness and Statistics.

These figures enhance the position of the country as a major gateway for trade, not only in the Gulf region, but also in the Middle East, as witnessed by many specialized international institutions.

The UAE trade accounted for about 25% of the total trade in the Middle East region during 2018, according to the International Trade Center, and it is also classified as one of the most countries that have commercial partnership relations with the major economies in the world.

The value of trade exchange between the UAE on the one hand, and Saudi Arabia, Bahrain, Kuwait and the Sultanate of Oman on the other hand, amounted to 55.2 billion dirhams, during the first quarter of this year.

Saudi Arabia topped the first place in the list of the largest trading partners of the state, as the value of trade exchange between the two countries, during the first three months of this year, amounted to 25.81 billion dirhams, which constitutes about 47% of the total trade, followed by the Sultanate of Oman 11.93 billion dirhams, and Kuwait 11.21 billion dirhams Then Bahrain 6.23 billion dirhams.

The value of re-export trade between the UAE and the four countries amounted to 24.9 billion dirhams during the first quarter of this year, of which nearly 13 billion dirhams were with Saudi Arabia.

At the level of state exports, they amounted to 17.83 billion dirhams, of which almost 39% is with Saudi Arabia, with a value of about seven billion dirhams.

Regarding the state’s imports from these countries, their value during the same monitoring period amounted to 12.463 billion dirhams, the largest part of which was also recorded in the interest of Saudi Arabia.

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