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UAE-Oman bilateral trade climbs to Dh362 billion in 10 years

The volume of trade exchange between the two countries during the first half of this year amounted to Dh24.2 billion

The bilateral non-oil trade between the UAE and Oman from 2012 to 2021 amounted to more than Dh362 billion, recording a growth rate of 98.9 per cent to reach Dh46.5 billion by the end of 2021 compared to Dh23.4 billion by the end of 2012, according to data from the Federal Competitiveness and Statistics Centre (FCSC).

The data showed that non-oil exports accounted for 33 per cent of the total non-oil trade during the past 10 years, recording a value of Dh120 billion, while the share of re-exports was 45.5 per cent, with a value of Dh165 billion, while imports accounted for 21.5 per cent of the total non-oil trade. Oil between the two countries during the same period recorded at nearly Dh77 billion.

The volume of trade exchange between the two countries during the first half of this year amounted to Dh24.2 billion, distributed as follows – Dh8.8 billion for the re-exports, Dh9.9 billion for non-oil exports, and Dh5.4 billion for imports.

According to the data of the report on the volume of foreign trade between the two countries, 2013 recorded an increase in non-oil trade exchange by 23 per cent to reach Dh28.8 billion, compared to the volume of trade in 2012.

The year 2019 recorded the highest rate of trade exchange between the UAE and the Sultanate of Oman during the past decade at Dh48 billion, while 2021 recorded a growth of 10 per cent to reach Dh46.5 billion compared to Dh42.3 billion by the end of 2020.

The report showed that petroleum oils and mineral oils (non-crude) topped the list of the top five most important commodities imported from Oman last year with a value of Dh1.49 billion, followed by iron ores concentrates with a value of Dh1.45 billion, iron or steel bars with a value of Dh1.36 billion, and semi-finished products from Iron or steel valued at Dh830 million, and insulated wires and cables with a value of Dh370 million.

Raw, semi-worked, or powdered gold topped the list of the top five commodities exported to Oman with a value of Dh2.41 billion, copper wires with a value of Dh1.31 billion, petroleum and mineral oils (not raw) with a value of Dh916 million, and cigarettes with a value of Dh889 million and steel products with a value of Dh765 million.

In the list of the top five commodities that were re-exported to Oman during 2021, cars came in the first place with a value of Dh3.47 billion, mobile phones with a value of Dh1.84 billion, car parts and supplies with a value of Dh631 million, data processing machines with a value of Dh625 million, and soap and laundry products worth Dh584 million. — Wam