Ministry of Economy says UAE's foreign trade with China made up 14.7% of total foreign trade last year
The value of trade between the UAE and China in 2017 grew to $53.3 billion, compared to $46.3 billion in the previous year, an increase of 15.1 percent.
A report on the non-oil foreign trade exchange between the UAE and China said that this increase is the result of the rise in re-exports by 37.4 percent, as well as a growth in imports by 14.7 percent.
The UAE’s foreign trade with China in 2017 was made up of direct trade, which was valued at $25.685 billion or 48 percent of the country’s total foreign trade, and free zones, which was valued at $27.644 billion or 52 percent, state news agency WAM reported.
It added that the UAE’s foreign trade with China made up 14.7 percent of the its total foreign trade in 2017, citing statistics issued by the Ministry of Economy.
The ministry stated that the UAE’s total foreign trade value in 2017 reached AED1.7 trillion while predicting continued growth in 2018 and beyond.
Ethylene polymer products topped the non-oil exports, with a value of $1.09 billion, while cars topped re-exports, with the value of $1.143 billion.