ABU DHABI, 26th September, 2022 (WAM) -- The total non-oil trade between the UAE and Oman from 2012 to 2021 amounted to more than AED362 billion, recording a growth rate of 98.9% to reach AED46.5 billion by the end of 2021, compared to AED23.4 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% of the total non-oil trade during the past ten years, recording a value of AED120 billion, while the share of re-exports was 45.5%, with a value of AED165 billion, while imports accounted for 21.5% of the total non-oil trade. Oil between the two countries during the same period recorded at nearly AED77 billion.
The volume of trade exchange between the two countries during the first half of this year amounted to AED24.2 billion, distributed as follows: AED8.8 billion for the re-exports, AED9.9 billion for non-oil exports, and AED5.4 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% to reach AED28.8 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 AED48 billion, while 2021 recorded a growth of 10% to reach AED46.5 billion, compared to AED42.3 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 AED1.49 billion, followed by iron ores concentrates with a value of AED1.45 billion, iron or steel bars with a value of AED1.36 billion, and semi-finished products from Iron or steel valued at AED830 million, and insulated wires and cables with a value of AED370 million.
Raw, semi-worked, or powdered gold topped the list of the top five commodities exported to Oman with a value of AED2.41 billion, copper wires with a value of AED1.31 billion, petroleum and mineral oils (not raw) with a value of AED916 million, and cigarettes with a value of AED889 million and steel products with a value of AED765 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 AED3.47 billion, mobile phones with a value of AED1.84 billion, car parts and supplies with a value of AED631 million, data processing machines with a value of AED625 million, and soap and laundry products worth AED584 million.