The food and beverage (F&B) trade in the UAE increased steadily to reach over $20 billion in the first nine months of 2021, according to a new analysis from the Dubai Chamber of Commerce.
The rise was said to have been supported by growing demand and expanded efforts to enhance food security and diversify food imports.
Imports, at $12.8 billion, accounted for the largest share of the UAE’s F&B trade during January-September 2021 period.
This was followed by exports at $4.1 billion and re-exports at $3.3 billion.
From 2011 to 2020, the UAE’s F&B imports, exports, and re-exports grew at a CAGR of 0.6 percent, 7.5 percent, and 6.0 percent, respectively.
The findings, based on data from the Federal Competitiveness and Statistical Center (FCSC) of the UAE, were released during a briefing hosted by Dubai Chamber of Commerce on the sidelines of Gulfood 2022 in Dubai.
The analysis identified India as the UAE’s top F&B trading partner in the first nine months of 2021.
The country apparently accounted for 12 percent of the Gulf country’s total F&B trade value.
It was followed by the US (7 percent), Brazil (6 percent), Australia (5 percent), Canada (5 percent), and Saudi Arabia (5 percent).
Imported fruits and nuts, at 13 percent, accounted for the largest proportion of the UAE’s imports.
This was followed by meat (11 percent), dairy products (10 percent), and oilseeds (7 percent).
A total of 10 markets accounted for about 66 percent of the UAE’s total exports of food and beverages during the first nine months of 2021.
Saudi Arabia ranked first in this category with a share of 17 percent, followed by Oman (9 percent), Kuwait (8 percent), and China (5 percent).
According to FCSC, 10 product groups accounted for around 76 percent of UAE’s F&B imports from the world in Q1-Q3 2021.
Fruits and nuts took the largest share of 13 percent, followed by meat (11 percent), dairy (10 percent), oil seeds (7 percent), cereals (7 percent), and other edible food products (6 percent).