Exporting to United Arab Emirates

United Arab Emirates Export Guide | Trade Finance Global

Exporting to United Arab Emirates

United Arab Emirates (UAE) is a federation of the seven emirates of Abu Dhabi, Ajman, Al Fujairah, Dubai, Ras al Khaymah, Sharjah, and Umm al Qaywayn. UAE is heavily reliant on its export industry, being the sixth largest petroleum exporter in the world. Petroleum export revenues are valued at around $120 billion USD a year, out of a total of around $200 billion USD total export revenue.

UAE exports globally, its top export destinations are Japan, India, South Korea and Thailand. As well as crude petroleum, UAE exports gold, petroleum gas and raw aluminum. Interestingly, UAE is a big user of natural gas, and as well as sharing international gas pipelines, it’s a big importer and exporter of liquefied natural gas (LNG).

United Arab Emirates Country Profile

Official Name (Local Language) Al Imarat al Arabiyah al Muttahidah
Capital Abu Dhabi
Population 5,927,482
Currency U.A.E. Dirham
GDP $375 billion
Languages Arabic
Telephone Dial In 971

United Arab Emirates Imports Profile

Imports ($m USD)

270,882

Number of Import Products

4,496

Number of Import Partners

197

Top 5 import partners

Country

Trade

% Partner Share

Unspecified

81,777

30.19

China

22,424

8.28

United States

20,587

7.60

India

18,669

6.89

Germany

12,594

4.65

Top 5 Import Products at HS 6 digit level

Export Product

Number

Gold in unwrought forms non-monetary

11.9%

Transmission apparatus, for radioteleph incorpo

4.6%

Aircraft nes of an unladen weight exceeding 15,

4.3%

Art. of jewellery and pts thereof of/o prec mtl

3.4%

Gold in oth semi-manufactured forms,non-monetar

3.1%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for United Arab Emirates

Agriculture

%

Product List

0.7%

Dates, vegetables, watermelons; poultry, eggs, dairy products; fish

Industry

%

Industry list

44.6%

Petroleum and petrochemicals; fishing, aluminum, cement, fertilizers, commercial ship repair, construction materials, handicrafts, textiles

Services

%

Services list

54.7%

Exporting to United Arab Emirates: What is trade finance?

United Arab Emirates (UAE) is a growing world financial centre and trade hub, with GDP growth rate at around 4% a year. With a total population of just 9 million, UAE is a high income and one of the richest nations in the world. UAE is actively seeking ways to diversify its economy in the long term, as it is heavily reliant on oil exports as a primary revenue stream at the moment. The country is investing into sustainable energy, education and science.

UAE imposes a 5% tax on imported goods, in accordance with the Unified Customs Law (ULC). United Arab Emirates main imports are pearls and other precious metals and stones, machinery, sound recorders and transport vehicles. UAEs import partners are China, India and the United States.

With a large expatriate population and one of the most liberal trade nations in the Gulf, a UK business exporting to UAE could have many advantages, including its proximity to other Gulf markets, there is no taxation on personal income and capital gains, and it’s ranked thirty-first  in the World Bank’s ease of doing business report.

Information

Exporting to UAE? Contact our local experts

United Arab Emirates Economic Statistics

Government Website

https://government.ae/ en#/

Sovereign Ratings

https://countryeconomy. com/ratings/united-arab-emirates

Central Bank

Central Bank of the United Arab Emirates

Currency USD Exchange Rate

3673

Unemployment Rate

3.6%

Population below poverty line

19.5%

Inflation Rate

3.4%

Prime Lending Rate

NA

GDP

$375 billion

GDP Pro Capita (PPP)

$67,700

Currency Name

U.A.E. Dirham

Currency Code

AED

World Bank Classification

High Income

Competitive Industrial Performance

16/138

Corruption Perceptions Index

21/180

Ease of Doing Business

11/190

Enabling Trade Index

23/136

Currency in UAe

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