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

Monday, 23 September 2019 at 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

Nakheel unveils new sustainable community beside Palm Jebel Ali

Nakheel, a member of Dubai Holding Real Estate, has unveiled Palm Springs, a 3.8 million sq m residential masterplan adjacent to Palm Jebel Ali in southern Dubai.
Dubai showcases latest innovations in electric, smart mobility

More than 300 local and international organisations are showcasing the latest developments in electric vehicles and future transport at the inaugural Dubai International Electric Vehicle Exhibition and Conference (EV World 2026).
US sues Lyft, alleges discrimination against disabled riders

The US Justice Department sued Lyft on Monday, alleging the ride-hailing services provider discriminated against passengers with disabilities, including those who use service animals and mobility devices such as stowable wheelchairs.
ADNOC Distribution reports $791 million net profit in first 9 months

ADNOC Distribution has reported a 37 per cent year-on-year increase in net profit to $791 million in the first nine months of 2026.
Tesla to pull the plug on Cybertruck after years of poor sales

Tesla will wind down Cybertruck production at its Texas gigafactory around mid-2027, CEO Elon Musk said on Friday, after years of persistently weak sales for a futuristic model once touted as a rival to legacy pickup trucks.

Ras Al Khaimah Ruler attends COP31 Leaders’ Summit
His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, led a high-level Emirati delegation at the opening of the COP31 Leaders' Summit in Antalya, Turkey.
H.H. Sheikh Hamdan honours winners of inaugural Dubai-it Award
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, UAE Deputy Prime Minister and Defence Minister, has honoured 13 winners of the inaugural 'Dubai-it Award', which celebrates exceptional achievements by individuals, projects, institutions and companies across various sectors.
Ras Al Khaimah reopens several beaches to the public
Several beaches in Ras Al Khaimah have reopened to the public, with access to remaining locations set to resume in phases.