UAE-Saudi trade soars to AED 417 billion in five years

Monday, 23 September 2019 09:12

Saudi Arabia remains one of the top trading partners of the UAE.

Non-oil trade exchange between the two countries reached AED 107.4 billion in 2018, to register a 37 per cent year-on-year increase.

Meanwhile, overall figures over the past five years have exceeded AED 417 billion.

The UAE's Ministry of Economy has released the stats to coincide with the 89th National Day of Saudi Arabia.

There are more than 4,000 Saudi trademarks registered in the Emirates, while AED 16 billion is the value of direct Saudi investments in the UAE.

Speaking to ARN News, Dr. Reeem Osman, the CEO of Saudi German Hospitals Group, hailed the close business ties between the countries.

More from Business News

DXB on track to surpass 90 million passengers in 2024

His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA), Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group, says he expects passenger traffic at Dubai International Airport to exceed 90 million by the end of this year.
Apple unveils AI-focused chip in upgraded iPad Pro

Apple on Tuesday introduced a new chip called the M4 that it said would outclass personal computers designed for artificial intelligence - but put the new chip in an iPad Pro model rather than a laptop.
Jumeirah unveils new brand identity

Jumeirah has unveiled a new brand identity as part of its growth strategy to double the size of its portfolio by 2030.
Tourism to make up 12% of UAE GDP in 2024

The UAE's tourism industry is projected to account for 12 per cent of the country's Gross Domestic Product (GDP) this year, while employment in the sector will increase to 833,000 from 809,000 in 2023.

Ride Home With Brent Black
2:00pm - 6:00pm

Brent Black has the biggest stories of the day and the stuff you might have missed.
The Kris Fade Show's Hour of Power
6:00pm - 7:00pm

An extra hour of the UAE's biggest radio show for your drive home.

Trending on Virgin Radio

Bassem Youssef
One of the most talked about comedians in the world takes over The Kris Fade Show. Watch the full interview here...
The Kris Fade Show Podcast
Not in the car so much while Kris, Priti and Rossi are on air? Check out the daily podcast here...
Mais Vault on the Kris Fade Show!
The boys tried their 'pick up' lines on Mais Vault and things did not go according to plan...
Untold Dubai
It arrived: The UAE's First Mega Music Festival at Expo City Dubai!