UAE – Mubasher: The UAE's trade balance recorded around AED 5.37 billion ($1.46 billion) surplus with four Gulf countries during the first quarter (Q1) of 2020, according to the latest data by the Federal Competitiveness and Statistics Authority (FCSA).

The surplus in the UAE's trade balance is attributed to an increase in the country's exports to the four Gulf countries to AED 17.83 billion in the January-March period of 2020.

Meanwhile, the UAE's imports from Saudi Arabia, Bahrain, Kuwait, and Oman reached about AED 12.46 billion in Q1-20, while the total value of the re-exports between the UAE and four countries recorded AED 24.9 billion.

Hence, the trade exchange with these countries amounted to AED 55.2 billion.

Saudi Arabia topped the UAE's trade partners with AED 25.815 billion, followed by Oman with AED 11.931 billion, Kuwait with AED 11.218 billion, and Bahrain with AED 6.23 billion.