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|05 September, 2018

UK-UAE bilateral trade hits $22.4bln in 2017

Goods made up 68.8% of UK exports

The arm of a crane stretches over the DP World London Gateway container port in Essex, southern England July 30, 2013. Image for illustrative purposes.

The arm of a crane stretches over the DP World London Gateway container port in Essex, southern England July 30, 2013. Image for illustrative purposes.

REUTERS/Suzanne Plunkett

Dubai - Trade exchange between the UK and UAE rose by 12% year-on-year in 2017, registering GBP 17.5 billion ($22.4 billion).

British exports to the GCC nation reached GBP 11.1 billion last year, whereas UK imports from the UAE amounted to GBP 6.4 billion, state news agency Emirates News Agency (WAM) reported.

It is worth noting that the UK has reported a trade surplus of GBP 4.7 billion.

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Goods made up 68.8% of UK exports, recording GBP 7.6 billion, while services accounted for 31.2%, standing at GBP 3.5 billion.

On the other hand, goods and services made up 66.8% and 33.2% of British imports from the UAE, recording GBP 4.3 billion and GBP 2.1 billion, respectively, figures showed.

During his visit to Britain, Sheikh Abdullah met with Sajid Javid, the UK's Home Secretary, to discuss ways to further boost bilateral relations between the two countries, especially in the security and consular fields, state news agency WAM reported on Tuesday.

These figures were announced on the sidelines of the visit of Abdullah bin Zayed Al Nahyan, the UAE's Minister of Foreign Affairs and International Cooperation, to the UK.

The Emirati minister has met with the UK's Home Secretary Sajid Javid to discuss ways to strengthen bilateral relations and maintain mutual cooperation between the two countries, WAM said.

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