Dr. Thani bin Ahmed Al-Zeyoudi, UAE Minister of Foreign Trade, said that non-oil trade between the UAE and Malaysia has continued its upward trajectory since the past five years, reaching $4.6 billion in 2022, a growth of 5 percent compared to 2021, and an increase of 31 percent and 18 percent compared to 2020 and 2019. respectively.
The minister added that Malaysia is one of the most important trading partners of the UAE from non-Arab Asian countries, as it accounts for 2 percent of the UAE’s non-oil trade with non-Arab Asian countries, and ranks 12th in the list of the country’s most important trading partners around the world.
Dr. Thani bin Ahmed Al-Zeyoudi added: “The UAE is the 17th trading partner in the world and the second in the Arab world to Malaysia, according to foreign trade data for the year 2022, as it accounts for 32 percent of Malaysia’s trade with Arab countries, and the country is also the first destination for Malaysian merchandise exports to Arab countries.” accounting for 40 percent of Malaysia’s exports to Arab countries.
Regarding the growing investment relations between the two countries, the minister indicated that the value of Malaysian investments in the UAE amounted to $150 million, distributed over the sectors of industry, construction, real estate activities, trade activities, transportation, storage, financial activities, insurance, and professional and technical activities.
UAE investments in Malaysia amount to more than 220 million dollars, of which more than 51 million dollars are in the industrial sector.
Trade volume in 10 years
The total volume of non-oil foreign trade between the UAE and Malaysia during the 10 years amounted to 160.2 billion dirhams (43.6 billion dollars). Imports accounted for 76 percent of the total trade exchange between the two sides, with a value of 121.6 billion dirhams (33.11 billion dollars), and exports accounted for 16.5 percent. With a value of 26.5 billion dirhams (7.22 billion dollars).
Re-exports accounted for 7.5 percent, with a value of 12 billion dirhams ($3.27 billion), according to data from the Federal Center for Competitiveness and Statistics.
The data of the non-oil foreign trade report between the UAE and Malaysia during the period 2013-2022 issued by the “Competitiveness and Statistics” showed that trade exchange between the two countries grew by 6 percent to 16.98 billion dirhams ($4.62 billion) by the end of 2022, compared to 16.06 billion dirhams ($4.37 billion). dollars) by the end of 2021, with a growth rate of 32 percent, compared to 12.917 billion dirhams ($3.51 billion) in 2020.
During the past ten years, 2013 recorded the highest value of non-oil trade exchange in a decade, amounting to 21.08 billion dirhams ($5.72 billion).
#billion #dollars #volume #nonoil #trade #UAE #Malaysia #years