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| 19 August, 2018

UAE, UK bilateral trade hits $6.53bln in H1

Total UAE exports to the UK went down 18.5% to $2.14bln in H1-18

The United Arab Emirates has announced that it will allow 100 percent foreign ownership of companies and will 10-year visas to doctors, engineers and entrepreneurs in a bid to attract more talent to the country. Image used for illustrative purposes.

The United Arab Emirates has announced that it will allow 100 percent foreign ownership of companies and will 10-year visas to doctors, engineers and entrepreneurs in a bid to attract more talent to the country. Image used for illustrative purposes.

Getty Images/Umar Shariff Photography

Dubai –   Trade exchange between the UAE and the United Kingdom fell by 15.2% to AED 24.25 billion (GBP 5.25 billion) during the first half of 2018, versus AED 29 billion in H1-17.

Total UAE exports to the UK went down 18.5% to AED 7.87 billion in during the six-month period ended 30 June, compared to AED 9.65 billion in the same period of the prior year, according to data by the UK’s Office for National Statistics.

While the GCC nation's imports from the UK declined by 12.3% year-on-year to AED 16.73 billion in H1-18.

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Trade deficit between the two countries retreated 3% in H1-18 to AED 8.86 billion, versus AED 9.14 billion in the year-ago period.

Source: Mubasher

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