Bilateral trade between UAE and Kuwait grows 87% in 10 years

ABU DHABI – Non-oil foreign trade between the UAE and Kuwait has grown by 87% over the past decade to reach AED43 billion by the end of 2022, compared to AED23.3 billion in 2013, according to preliminary data released by the Federation of the UAE Ram Competitiveness and Statistics Center (FCSC).

FCSC data shows that from 2013 to 2022, the total trade volume between the two countries reached 316.2 billion dirhams, of which re-exports accounted for 53%, with a value of more than 168 billion dirhams, non-oil exports accounted for 27%, with a value of more than 85 billion dirhams, and imports 20%, totaling AED 62.8 billion.

Non-oil trade between the UAE and Kuwait rose by 13 percent and was worth AED5 billion last year to AED43.5 billion, compared to AED38.5 billion in 2021.

In the non-oil trade between the two countries last year, the entrepot trade volume was 21.9 billion dirhams, the non-oil export value was 14.2 billion dirhams, and the import value was 7.3 billion dirhams.

Among the top five commodities imported from Kuwait to the UAE in 2022, mineral oil topped the list with a value of more than AED 6 billion; while raw gold ranked among the top five commodities exported from the UAE to Kuwait with a value of AED 3.3 billion, followed by It’s jewellery, worth Dh3 billion.

While communications equipment tops the list of top 5 goods re-exported from the UAE to Kuwait in 2022, worth AED 3.52 billion, followed by pharmaceuticals and therapeutics at AED 1.7 billion and data processing machines at AED 1.46 billion .