ABU DHABI, UAE – The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022, reaching US$37.4 billion (AED 137.51 billion), compared to US$29 billion (AED 107.41 billion) in 2018.
The total non-oil trade between the UAE and Saudi Arabia rose to US$159 billion (AED 586.75 billion) over five years.
As per Ministry of Economy data, in 2022, the bilateral trade between the two countries was divided into US$9 billion (AED 34.31 billion) in imports, US$9.8 billion (AED 36.01 billion) in non-oil exports, and $18.2 billion (AED 67.18 billion) in re-exports.
The statistics included data on trade exchange between the two countries during the period from 2018 to 2022, indicating the growth of trade exchange between the two sides in 2019 to reach AED 113.25 billion, compared to AED 107.41 billion in 2018.
The year 2021 also recorded growth, reaching AED 124.65 billion, compared to AED 103.91 billion in 2020. The volume of trade exchange between the two sides reached AED 137.51 billion last year.
The fruitful relations between the two countries have had a positive impact on the comprehensive and sustainable development in both countries in various fields, including trade exchange, economic cooperation, and joint investment.
This serves the process of progress and sustainable development and is in the interest of improving the quality of life and the well-being and prosperity of the people of the two countries.
Saudi Arabia ranked third among the five largest destinations for non-oil UAE exports in the first half of 2023.
UAE imports from Saudi Arabia accounted for 25 percent of total non-oil bilateral trade, while national exports and re-exports to Saudi Arabia made up 75 percent in 2022.
Saudi Arabia was the third trading partner for the UAE’s non-oil trade with the world in 2022.
The UAE’s imports from Saudi Arabia grew to AED 34.49 billion in 2022, a 23 percent increase from 2018.
The UAE’s non-oil exports to Saudi Arabia grew to AED 35.96 billion in 2022, a 14 percent increase from 2018.
The value of UAE re-exports to Saudi Arabia increased to AED 67.16 billion in 2022, a 40 percent rise from 2018.
The UAE is the second-largest re-export market for Saudi Arabia. It is also the second-largest export destination and the third-largest import source for Saudi Arabia.