Question

Discuss the UAE foreign trade with the GCC.

Course: Business Environment in UAE

Answer 1

UAE is part of the Gulf council of cooperation and is a significant trading partner for most gulf states. In last year it's trade with Arab countries which are part of GCC has reached to a value of around Dirham 340 billion with re-exports around 170 billion Dirham. UAE is the gateway for supply of materials to gulf nations and most of the trade is routed through it with Dubai port occupying a place of prominence. If we consider only exports and imports, it enjoys a trade surplus of around Dirham 20 billion with imports of around Dirham 90 billion and exports of Dirham 70 billion.

It has also progressively increased its non oil exports and have now positioned itself as a premier center for service exports which may lead to further trade growth in the future.