Non-oil trade between UAE and Oman crosses Dhs362bn in 10 years

 The total non-oil trade between the UAE and Oman from 2012 to 2021 amounted to more than Dhs362bn.

Non-oil trade grew at 98.9 per cent to reach Dhs46.5bn by the end of 2021, compared to Dhs23.4bn 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 ten years, recording a value of Dhs120bn, while the share of re-exports was 45.5 per cent, with a value of Dhs165bn, while imports accounted for 21.5 per cent of the total non-oil trade.

The volume of trade exchange between the two countries during the first half of 2022 amounted to Dhs24.2bn, including Dhs8.8bn worth of re-exports; Dhs9.9bn worth of non-oil exports and Dhs5.4bn for imports, official news agency WAM reported.

The year 2019 recorded the highest rate of trade exchange between the UAE and the sultanate during the past decade, value at Dhs48bn. It stood at Dhs42.3bn by the end of 2020 and increased 10 per cent to reach Dhs46.5bn in 2021.

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 Dhs1.49bn, followed by iron ores concentrates worth Dhs1.45bn; iron or steel bars with a value of Dhs1.36bn, and semi-finished products from iron or steel valued at Dhs830m, and insulated wires and cables with a value of Dhs370m.

Raw, semi-worked, or powdered gold topped the list of the top five commodities exported to Oman with a value of Dhs2.41bn, followed by copper wires worth Dhs1.31bn, petroleum and mineral oils (not raw) worth Dhs916m, cigarettes with a value of Dhs889m and steel products worth Dhs765m, the statement added.

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 Dhs3.47bn, followed by mobile phones worth Dhs1.84bn, car parts and supplies (Dhs631m); data processing machines (Dhs625m) and soap and laundry products (Dhs584m).