The United Arab Emirates.

Not only did it achieve success locally, but the Emirati goods and products went further to enter the global markets to reach $ 316.9 billion (1.16 trillion dirhams) in 2018, with a growth rate of 1.1% compared to 2017.

 

According to the World Top Export site, Forbes, Foreign Trade, the US Bureau of Statistics, the World Trade Center, Investopedia, Wikipedia, and The World Factbook almost half of these exports 49.4%; are to countries such as Saudi Arabia, about 9.7%, India, 5.7%, Iraq, 5%, Oman, 4.6%, Switzerland 2.8%, China 2.3%, Belgium 2%, and Bahrain 2%.

 

With a population of about 9.7 million people, UAE exports at a size of $ 316.9 billion can translate to about $ 32.7 thousand (120,000 dirhams) for each individual residing and producing on the land of the Emirates. In 2018 and at a macro level, the UAE exports accounted for about 24% of the total GDP.

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While this report focuses on exported goods, it should also be noted that the UAE has provided about $ 71.8 billion (263.5 billion dirhams) in export-related services to global clients, adding 9.9% of GDP to purchasing power parity. These figures include an estimated volume of re-exports.

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Top Ten Export items

Ten commodities among the highest value in the country's exports during 2018:

1) Hydrocarbon products (Oil & Gas) at 92.5 billion dollars (339.4 billion dirhams) representing 29.2% of exports. 

2) Precious stones and precious metals 45.9 billion dollars (168.4 billion dirhams) about 14.5%. 

3) Electrical machinery and equipment $ 27.3 billion (100.19 billion dirhams)، or 8.6%.

4) Devices, including computers, are $ 17.6 billion (64.5 billion dirhams) about 5.6%.

5) Vehicles are 12.9 billion dollars (47.3 billion dirhams)، or 4.1%.

6) Aluminium, $ 6.4 billion (23.5 billion dirhams) with a rate of 2% 7) Plastic materials, $ 5.5 billion (20.18 billion dirhams) about 1.7%, 

8) Tobacco and alternative manufactured materials, $ 4.5 billion (16.5 billion dirhams) at 1.4%, 

9) Aircraft and space ships components 4.2 billion dollars (15.4 billion dirhams) 1.3%.

10) Perfumes and cosmetics, about 3.5 billion dollars (12.84 billion dirhams) 1.1%.

 

The top 10 exports account for more than two-thirds of the total value of these global exports at a rate of about 69.5%, as perfumes and cosmetics are the fastest growing with an increase of 48.4% since 2017. Mineral fuels that include oil are ranked second, which rose by 33.7% %, Thanks to raw and refined hydrocarbons.

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WTO

As a member of the World Trade Organization (WTO) since 1996, the UAE has been supporting an open economy, with strong commercial ties with many countries around the world. Thanks to its open economy, favourable trade environment, and sustained and sustainable economic growth, the UAE has emerged as a global trade hub linking East and West.

 

As part of its initiatives to create an open and diversified economy, the state has worked to prepare its youth to find innovative solutions in the face of major challenges in sectors including trade, science, and others.

 

In a survey of a group of young people in the Arab world in 2019, the UAE was chosen as the best country to live in, for the eighth year in a row, according to the website of the UAE embassy in Washington.

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Key Trade Partners

1) India: With regard to the top five largest exporting countries to the UAE market, India comes in the lead by about 17.5%, as it includes imported goods from it, cotton, accessories, gemstones, jewellery, factory yarn, textiles, marine products, machinery, tools, plastic, tea, and others.

 

2) China: With a 14% share of imports in the UAE, to include textile and clothing products, light industrial products, handicrafts, machinery, gold, copper, silver, iron and tin.

 

3) As for the share of the United States of America in the imports of the United Arab Emirates, it reaches 7.7% and includes transportation equipment, machinery, computers, electronics, chemicals, and the iron industry.

 

4) Germany includes the share of imports of the United Arab Emirates 5.6% and includes machinery, electronic devices, chemical products, measurement and control technology, iron and metals.

 

5) As for Japan, it is the fifth-largest exporting partner to the state, at a rate of 4.82%. UAE imports include transportation equipment, electrical machinery, public machinery, foodstuffs, ore and mineral fuel, according to the embassy website.

As for the top 5 partners for UAE exports, Japan is at the top with 17.1% to receive exports from the UAE, including crude oil and aluminium.

 

For India, it includes pearls, semi-precious stones, gold, pulp, sulfur, pyrite iron, ore, mineral scrap, organic and inorganic chemicals. And for South Korea, 6.1% include crude oil and petroleum products such as naphtha, liquefied natural gas, aluminium and copper.

 

As for the exports of the Emirates to Thailand, they constitute about 5.1% and include crude oil, scrap iron, gold and silver alloys, and chemicals.