The value of Abu Dhabi’s non-oil exports to Saudi Arabia jumped to Dhs196.17 billion over the decade.
The value of non-oil trade in goods between the Emirate of Abu Dhabi and Saudi Arabia amounted to Dhs493.8 billion over the past 10 years, in yet a new testament to the robust strategic partnership between the two sides.
Last year saw Dhs55.3 billion of total trade exchanges, a growth of 83.9 per cent over 2010 when the total trade volume between the two sides stood at Dhs30.05 billion, according to figures released by Abu Dhabi Customs.
The value of Abu Dhabi’s non-oil exports to Saudi Arabia jumped to Dhs196.17 billion over the decade, while re-exports stood at Dhs180.09 billion, and imports to Dhs117.50 billion.
Last year, the emirate’s exports to Saudi Arabia grew 156.7 per cent to Dhs25.76 billion from Dhs10.03 billion in 2010. Re-exports increased as well 67.9 per cent to Dhs17.35 billion during the same reference period, with the Kingdom remaining the emirate’s top trading partner over the decade.
Rashid Bin Lahij Al Mansouri, Director General of General Administration for Customs in Abu Dhabi, said the Kingdom of Saudi Arabia is a key strategic partner of the UAE thanks to the common views and robust cooperation ties maintained by the leadership of the two nations and their continual exchange of expertise and transfer of knowledge, which, he said, has reflected in streamlining traffic between their ports.
Ahmed Mahboob Musabih, Director-General of Dubai Customs said recently that the non-oil trade between Dubai and Saudi Arabia amounted to Dhs500 billion ($136 billion) in the last ten years (2010-2020), which makes the kingdom Dubai’s biggest Arab trade partner and fifth globally. The great economic relationship that Saudi has with the UAE reflects the strong ties between the two states, and the close work and cooperation between them in different aspects, Musabih added.