The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022, reaching Dh137.51 billion, compared to Dh107.41 billion in 2018. This brings the total non-oil trade between the two countries to Dh586.75 billion over five years.
As per Ministry of Economy data, in 2022, the bilateral trade between the two countries was divided into Dh34.31 billion in imports, Dh36.01 billion in non-oil exports, and Dh67.18 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 Dh113.25 billion, compared to Dh107.41 billion in 2018.
The year 2021 also recorded growth, reaching Dh124.65 billion, compared to Dh103.91 billion in 2020. The volume of trade exchange between the two sides reached Dh137.51 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 two brotherly peoples.
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 Dh34.49 billion in 2022, a 23 percent increase from 2018.
The UAE's non-oil exports to Saudi Arabia grew to Dh35.96 billion in 2022, a 14 percent increase from 2018.
The value of UAE re-exports to Saudi Arabia increased to Dh67.16 billion in 2022, a 40 percent rise from 2018. The UAE is the second-largest re-export market for Saudi Arabia, and is also the second-largest export destination and the third-largest import source for Saudi Arabia.
The economic, investment, and trade cooperation relations between the UAE and Saudi Arabia are witnessing increasing growth in various fields, which contributes to the strengthening, development, and prosperity of the two brotherly countries and peoples.