UAE: Over the past decade, the United Arab Emirates and Türkiye have forged a robust non-oil trade relationship, as per the Federal Competitiveness and Statistics Centre (FCSC) in Dubai. Non-oil intra-trade between the two nations soared to an impressive 378 billion dirhams from 2013 to 2022.
During this period, the United Arab Emirates imports from Türkiye amounted to a staggering 204.3 billion dirhams, showcasing the substantial volume of goods flowing into the country. Moreover, the UAE’s exports to Türkiye reached approximately 127.5 billion dirhams, solidifying its position as an important trade partner.
Analyzing the specifics, the FCSC report identified raw gold as the leading import from Türkiye in 2022, amounting to an impressive 15.6 billion dirhams. This reflects the United Arab Emirates’ enduring appetite for this precious metal. Additionally, jewellery held the second position among the top imports, valued at 9.4 billion dirhams.
Furthermore, the UAE’s export landscape to Türkiye witnessed notable trends. Raw gold, with a value of 17.7 billion dirhams, ranked first among the top five commodities exported in 2022. This highlighted the significant contribution of the United Arab Emirates to Türkiye’s gold market.
On the re-export front, the UAE continued to excel, with jewellery taking the lead. Reaching a value of 2.5 billion dirhams, the UAE showcased its prowess in the global jewellery market. Following closely behind was raw gold, valued at 1.8 billion dirhams.
The consistent growth of non-oil trade between the UAE and Türkiye underscores the mutually beneficial relationship shared by the two nations.
As the United Arab Emirates and Türkiye move forward, the prospects for further enhancing their non-oil trade remain promising. By capitalizing on their respective strengths and exploring new avenues of collaboration, they are poised to unlock greater opportunities for economic advancement and reinforce their positions as key players in the global trade arena.