The United Arab Emirates and Kuwait have strong economic and trade relations, evidenced by their trade exchange between 2013 and 2022 totalling AED317 billion, including AED63 billion for imports, AED85.5 billion for non-oil exports, and AED168.5 billion for re-exports.
Trade exchange between the two countries has grown significantly, with a 120.5 percent increase over 10 years. In 2022, trade exchange reached AED44.1 billion, compared to AED20 billion in 2012, according to the Ministry of Economy data. The value of trade exchange in 2022 saw a growth of over 14.5 percent, with AED7.5 billion in imports, AED14.3 billion in non-oil exports, and AED22.3 billion in re-exports.
The value of trade exchange between the two countries in 2013 amounted to about AED23.3 billion, with AED5.4 billion for imports, AED5.5 billion for non-oil exports, and AED12.4 billion for re-exports.
Between 2014 and 2021, the trade exchange between the UAE and Kuwait showed fluctuations. In 2014, it amounted to AED25.7 billion, increasing to AED38.5 billion in 2021, with varying figures for imports, non-oil exports, and re-exports. Notably, the number of Kuwaiti tourists staying in UAE hotels increased from 250,000 in 2022 to 400,000 in 2023. Both countries maintain active direct investments, with Kuwait focusing on real estate, tourism, telecommunications, and textiles in the UAE, while Emirati investments in Kuwait span coal, oil and gas, transportation and storage, real estate, telecommunications, minerals, food, hotels, and aviation.
News Source: Emirates News Agency
