Who is the second largest trading partner of UAE? (2024)

Who is the second largest trading partner of UAE?

China is Dubai's largest trading partner, contributing US$29 billion to the economy in 2019, a 6% increase on the year before. India is the second-biggest trading partner, contributing over US$27 billion, a growth of 16% followed by the USA with US$15.5 billion and Switzerland US$12.7 billion.

Who is UAE largest trading partner?

China. Diplomatic ties between China and the UAE began in the 1980s. In 2021, bilateral trade exceeded AED279. 1 billion ($75.6 billion), making it perhaps the most significant trading partner of the UAE.

What are the top 3 exports of the UAE?

United Arab Emirates' economy is highly dependent on the exports of oil and natural gas (40 percent of total exports). Others exports include: pearls and other precious metals and stones (28 percent of total exports), machinery sound recorders and parts (9 percent) and transport vehicles (6 percent).

What are the top trades from UAE?

Among the top exports from UAE, crude and refined petroleum dominate, reflecting the country's rich oil reserves and advanced refining capabilities. However, the UAE's export landscape is remarkably diverse, featuring gold and diamonds, which underscore its status as a key trading hub for precious metals and gemstones.

Who are the partners of UAE oil trade?

At the same year, Crude Petroleum was the 1st most exported product in United Arab Emirates. The main destination of Crude Petroleum exports from United Arab Emirates are: Japan ($32.9B), China ($17.4B), India ($14.8B), Thailand ($12.9B), and Singapore ($8.22B).

Who are the top 5 trading partners of the UAE?

China remained the UAE's leading trading partner, followed by India, the US, Saudi Arabia, and Türkiye. The next five were Iraq, Switzerland, Hong Kong, Japan, and the Sultanate of Oman.

Who are the top 5 import and export partners of the UAE?

India was the second-largest recipient of UAE exports. China remained the UAE's leading trading partner, followed by India, the US, Saudi Arabia, and Türkiye. The next five were Iraq, Switzerland, Hong Kong, Japan, and the Sultanate of Oman.

What is the UAE's top 5 exports?

Yearly Trade

The most recent exports are led by Crude Petroleum ($105B), Refined Petroleum ($57.9B), Gold ($32.8B), Broadcasting Equipment ($17.7B), and Petroleum Gas ($16.2B).

What are the top 5 imports of the UAE?

The UAE's main imports are crude oil, refined petroleum products, machinery, vehicles, and food. The UAE's main exports are crude oil, natural gas, re-exports, and aluminum.

Where does UAE get its money?

All values, unless otherwise stated, are in US dollars. The UAE economy is heavily reliant on revenues from petroleum and natural gas, especially in Abu Dhabi.

Who is the largest trading partner of the Middle East?

China dominates as the top import supplier to MENA countries. The Asian country sent over $171 billion in goods to the region in 2022.

Who is Saudi Arabia's largest trading partner?

The most common destination for the exports of Saudi Arabia are China ($68B), India ($46.2B), Japan ($36.5B), South Korea ($36B), and United States ($23.9B).

Which industry is booming in UAE?

The UAE continues its path to sustained economic growth in 2024, and its diverse range of top industries will drive it. These include hospitality and tourism, logistics and transport, real estate, construction, banking and finance, retail, e-commerce, healthcare, consulting and oil and gas.

Who owns the oil in UAE?

The Abu Dhabi National Oil Company (Arabic: شركة بترول أبو ظبي الوطنية), known by its acronym ADNOC, is the state-owned oil company of the United Arab Emirates (UAE).

Who is the owner of Dubai oil?

Emirates National Oil Company Limited (ENOC) L.L.C. is a leading integrated global oil and gas player operating across the energy sector value chain. A wholly owned company of the Government of Dubai, ENOC was initially established in 1993.

Does US buy oil from UAE?

Iran - 4.7 million BPD. Iraq - 4.6 million BPD. United Arab Emirates (UAE) - 3.9 million BPD. Kuwait - 3.0 million BPD.

Is UAE the largest trade partner of India?

The bilateral trade between the UAE and India trade stands at USD 85 billion as of 2022. The UAE is India's third-largest trading partner for the year 2022-23. India is the UAE's second largest trading partner.

Who are the largest trading partners of Qatar?

On a country level, the main export partners were China (15.9%), India (11.6%), Japan (10.9%), and South Korea (9.6%). Qatar's leading suppliers were China (16.2%), the United States (14.6%), India (6.2%) Italy (5.7%), and Germany (5%). Qatar has very few trade barriers and relatively low customs duties.

What product is the UAE famous for?

Perfumes: The UAE is famous for its traditional Arabian perfumes, made with high-quality ingredients such as oud, rose, and musk. You can find a wide range of fragrances, from traditional to modern, in local souks and luxury perfume shops.

What does Dubai export the most?

Natural gas and crude oil are the main export commodities in the UAE. Dubai also, exports metals such as Gold, Diamond, aluminum, and copper, to Japan, South Korea, Thailand, India, and Iran including other western and European countries.

What is UAE largest producer of?

The United Arab Emirates (UAE) is among the world's ten largest oil producers. About 96% of the country's roughly 100 billion barrels of proven oil reserves are located in Abu Dhabi, ranking number six worldwide. The UAE produces an average of 3.2 million barrels of petroleum and liquids per day.

What does Dubai import from USA?

In 2021, of the $17.1 billion in U.S. exports to UAE, the top commodity sectors were, Machinery and Mechanical Appliances (33.7% of the total exports), Transportation Equipment (25.8%) and Stone, Glass, Metals and Pearls (9.9%).

What are all the exports of UAE?

What is the main food import of UAE?

Based on data from FCSC, in 2021 (Q1-Q3) the top 10 product groups accounted for around 76% of UAE's F&B imports from the world. Fruits and nuts took the largest share of 13%, followed by meat (11%), dairy (10%), oil seeds (7%), cereals (7%) and other edible food products (6%).

What is the best product to import in UAE?

The main imported products in Dubai are machinery, food, chemicals, and transport equipment. Dubai also imports textiles and metals from China and various primary products such as cotton, fabrics, machinery, and instruments or plastic products from India.