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Emirates’ trade surplus with GCC hits AED 3bn in 9M

Emirates’ trade surplus with GCC hits AED 3bn in 9M
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Dubai – Mubasher: The UAE’s trade surplus with GCC countries amounted to AED 3 billion ($817 million) during the first nine months of 2020.

The achieved surplus excludes AED 35.601 billion worth of non-oil exports and AED 32.61 billion worth of imports during the January-September period of the last year, according to data from the Federal Competitiveness and Statistics Authority (FCSA).

Meanwhile, re-exportation totalled AED 85.49 billion ($23.3 billion), with the total trade between the UAE and GCC states hitting AED 153.7 billion ($42 billion), representing 14.88% of the UAE’s total trade.

Saudi Arabia was the UAE’s main trading partner with exports from the latter valued at AED 18.2 billion and imports of AED 17.22 billion. Oman took the second spot with exports of AED 9.94 billion and imports of AED 4.94 billion, followed by Kuwait with AED 4.99 billion worth of exports and imports of AED 3.53 billion.

Bahrain came next with exports and imports worth AED 2.46 billion and AED 6.89 billion, respectively.