Total trade between two nations up over 12% at £17.5B
The UK is keen to enhance food trade with the UAE and in this regard a large British trade delegation in collaboration with the Department for International Trade is visiting the UAE.
Kamal Vachani, group director of Al Maya Group, received the trade delegation in Dubai recently, led by the Department of International Trade and European Regional Development Fund, along with 11 British food producers. The trade mission was managed by the British Centres for Business, the delivery partner of the British Embassy.
Total trade between the UK and UAE rose by over 12 per cent to £17.5 billion ($22.4 billion) in 2017, according to the official figures released by the UAE government. Last year, UK exports to UAE amounted to £11.1 billion while UK imports from the UAE were £6.4 billion as the UK reported a trade surplus of £4.7 billion.
Of all UK exports to the UAE in 2017, £7.6 billion (68.8 per cent) were goods and £3.5 billion (31.2 per cent) were services.
Meanwhile, of the total UK imports from the UAE, £4.3 billion (66.8 per cent) were goods and £2.1 billion (33.2 per cent) were services, according to the figures.
Demand for British goods and services continues to grow in 2018 as the UK’s exports rose to £637 billion in the year to August 2018, according to the UK’s Office for National Statistics.