Non-oil trade between UAE and Oman reaches $98.63 billion in 10 years

ABU DHABI – Total non-oil trade between the UAE and Oman exceeded AED362 billion between 2012 and 2021, a growth rate of 98.9% to reach AED46.5 billion by the end of 2021, compared to AED23.4 billion according to Data from the Federal Competitiveness and Statistics Centre (FCSC) as of end 2012.

Data shows that non-oil exports over the past decade accounted for 33% of total non-oil trade worth AED120 billion, while re-exports accounted for 45.5% worth AED165 billion, while imports accounted for 21.5% of total non-oil trade. The price of oil between the two countries was close to Dh77 billion during the same period.

In the first half of this year, trade between the two countries amounted to AED 24.2 billion, which is distributed as follows: AED 8.8 billion for re-exports, AED 9.9 billion for non-oil exports, and AED 5. 4 billion for imports.

Non-oil trade in 2013 increased by 23% compared to 2012, reaching AED 28.8 billion, according to data from the two countries’ foreign trade report.

2019 recorded the highest trade exchange rate between the UAE and the Sultanate of Oman in the past decade at AED 48 billion, while in 2021 it increased by 10% to AED 46.5 billion, compared to AED 42.3 billion by the end of 2020 year.

Petroleum and mineral oil (non-crude oil) topped the top five most important commodities imported by Oman last year with a value of AED 1.49 billion, followed by iron ore concentrates worth AED 145 million, the report showed. Iron or steel rods worth AED 1.36 billion, semi-finished steel products worth AED 830 million, insulated wires and cables worth AED 370 million.

Of the top five commodities exported to Oman, unprocessed, semi-processed or gold dust topped the list at AED 2.41 billion, copper wire at AED 1.31 billion, petroleum and mineral oils (non-raw materials). ) at AED 916 million, cigarettes at AED 889 million and steel products at AED 765 million.

Among the top five goods re-exported to Oman in 2021, automobiles top the list with AED 3.47 billion, mobile phones with AED 1.84 billion, and auto parts and supplies with AED 1.84 billion ranked first. valued at AED 631 million, data processing machines at AED 625 million and soap and laundry products at AED 584 million.