Open Economy

A member of the World Trade Organization since 1996, the UAE supports open trade and has stable trade relations with countries throughout the world. Thanks to its open economy, attractive business environment and continued economic growth, the UAE has emerged as a key international trade hub between East and West.

The UAE’s main export commodities are crude oil and other mineral products, machinery and electrical equipment, precious metals and stones, transportation equipment, and aluminum and other metals. Its main import commodities are precious metals and stones, machinery and electrical equipment, transportation equipment, metals, and mineral products.

 

US Trade with the UAE

In 2020, the UAE was the largest export market in the Middle East for the United States – a distinction the UAE has held for twelve years in a row. Total trade between the two countries totaled $17.83 billion, with the US exporting nearly $14.75 billion of goods and services to the UAE. The resulting $11.68 billion trade surplus was the United States' fourth largest trade surplus globally.

Bilateral trade data, including a state-by-state breakdown of US exports to the UAE can be found on a dedicated page of the UAE Embassy website.

The UAE’s top 5 import partners are:

  1. China - 13.9%
    Primary products: machinery and electrical equipment, textiles, metals, plastics and chemical products, and furniture.

  2. India - 11.7%
    Primary products: Precious metals (jewelry, diamonds, gold) refined petroleum and other mineral products, machinery and electrical equipment, textiles, metals, and chemical products. 

  3. United States - 7.47%
    Primary products: machinery and electrical equipment, transportation equipment, chemical products, precious metals, and mineral products. 

  4. United Kingdom - 4.18%
    Primary products: machinery and electronics, gold and other precious metals, transportation equipment, chemical products, and food products.

  5. Germany - 4.17%
    Primary products: transportation equipment, machinery and electronics, chemical products, metals, and food products.

     

The UAE’s top 5 export partners are:

  1. India - 9.85%
    Primary products: mineral fuels and products (petroleum) precious metals (diamonds, gold, precious stones), metals, and chemical products.

  2. Japan - 8.96%
    Primary products: mineral fuels and products (petroleum), and aluminum.

  3. China - 7.2%
    Primary products: mineral fuels and products (petroleum), transportation equipment, chemical products, and metals.

  4. Saudi Arabia - 7.11%
    Primary products: machinery and electronics, precious metals (diamonds, gold, precious stones), metals, transportation equipment, and chemical products. 

  5. Oman - 4.83%
    Primary products: machinery and electronics, metals, chemical products, and precious metals (diamonds, gold, precious stones).

     

Newsletter Sign Up

Area(s) of Interest