UAE-Kuwait Trade Surges to $86.3 Billion in a Decade, Marking 120.5% Growth

Kuwait, 06 March, 2024 :  Over the past decade, the UAE and Kuwait witnessed a substantial growth in trade, reaching $86.3 billion, marking a remarkable 120.5 percent increase. Trade between 2013 and 2022 totaled AED317 billion, comprising AED63 billion in imports, AED85.5 billion in non-oil exports, and AED168.5 billion in re-exports.

In 2022 alone, trade soared to AED44.1 billion, up by 14.5 percent from the preceding year. Notably, Kuwaiti tourism in the UAE surged to 400,000 visitors in 2023, up from 250,000 in 2022.

Economic relations are buoyed by direct investments, with Kuwait focusing on real estate, tourism, telecommunications, and textiles in the UAE, while Emirati investments in Kuwait span coal, oil and gas, transportation, real estate, telecommunications, minerals, food, hotels, and aviation.

Source : www.zawya.com