UAE, Ethiopia non-oil trade exchange surges 180%

Shutterstock [For illustration]

The UAE and Ethiopia have seen an 180 per cent increase in their non-oil trade over the past ten years with the total value exceeding AED 34 billion between 2013 and 2022.

In 2022 alone, the two countries recorded more than AED 5.1 billion in non-oil trade, more than double the figure in 2013.

Breakdown of UAE-Ethiopia trade in 2022

The UAE exported non-oil products worth AED 773 million to Ethiopia, with re-exports reaching AED 2.03 billion, and imports totalling AED 2.3 billion.

Ethiopia’s top imports from the UAE included mineral oils worth AED 183 million, raw gold (AED 58 million), pulses (AED 48 million), pre-fabricated buildings (AED 38 million), and iron and steel structures and parts worth AED 28 million.

The UAE also re-exported certain goods to Ethiopia, such as automobiles (AED 334 million), jewellery and ornaments (AED 225 million), vaccines (AED 199 million), self-processing information and communication machinery (AED 159 million), and communication devices and equipment (AED 125 million).

The UAE’s top three imports from the African nation in the previous year were raw gold, meat and coffee.

More from Business News

  • Spinneys makes Dubai stock exchange debut

    Spinneys 1961 Holding PLC, an operator of premium grocery retail supermarkets under the Spinneys, Waitrose and Al Fair brands in the UAE and Oman, started trading on Thursday on the Dubai Financial Market (DFM).

  • ADNOC reports 18% Q1 growth

    ADNOC Distribution released strong Q1 2024 financial results, showing an 18 per cent year-on-year increase in EBITDA to $248 million.

  • Dubai Duty Free boss to retire after 41 years

    After 55 years in the travel retail industry and 41 at the helm of Dubai Duty Free (DDF), Colm McLoughlin, Executive Vice Chairman & CEO has announced that he is stepping down from his role on May 31, 2024.

  • Sharjah airport welcomes over 4 million passengers

    More than 4.2 million passengers travelled through Sharjah Airport in the first quarter of 2024, marking a 10 per cent year-on-year increase.

  • 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.

News