The Economy: 36.3 billion dirhams of non-oil trade exchange in 9 months

Oman.. the UAE's second largest Gulf trade partner

Part of the meetings of the Emirati delegation headed by Al-Zeyoudi in the Sultanate of Oman.

From the source

Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al-Zeyoudi, affirmed the depth of the historical relations between the UAE and the Sultanate of Oman.

Al-Zeyoudi said during a visit in which he headed an Emirati delegation to the Sultanate: “Oman is the second largest Gulf trade partner of the UAE, as it accounts for 20% of the UAE's total trade with the GCC countries, while the volume of non-oil trade exchange between the two countries amounted to 36.3 billion dirhams during The first nine months of 2022, achieving a growth of 7% compared to the same period in 2021, and a growth rate of 20% compared to the same period in 2020, and trade exchange achieved a growth of 10% to reach 46.5 billion dirhams during 2021 compared to 42.3 billion. dirhams in 2020.

Non-oil foreign trade between the UAE and the Sultanate of Oman has doubled by 98.9% over the past 10 years.

The Ministry of Economy pointed out that the UAE is among the three most important countries around the world that invest in Oman, after the United Kingdom and the United States, with a contribution rate of more than 8.2% of the total balance of foreign investment incoming to the Sultanate. The UAE is also the first in the Arab world in this field.

In turn, the volume of direct investments between the two countries amounts to 15 billion dirhams, as the UAE's share of these investments reaches more than 85%.

The number of Omani companies in the UAE has reached 5,800, according to data at the end of October 2022.

The total non-oil UAE exports to the Omani markets amounted to 15.7 billion dirhams during the first nine months of 2022, a growth rate of 39.5% compared to the same period in 2021, while UAE re-exports to Oman amounted to 13.2 billion dirhams.

The Emirati non-oil exports accounted for 33% of the total foreign trade between the two countries during the past 10 years, recording a value of 120 billion dirhams, while the share of re-exports amounted to 45.5%, with a value of 165 billion dirhams.

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