Foreign Trade recorded 4 billion Dirhams with the GCC Countries during the 2018

Ras Al Khaimah, 8th July, 2019:  The GCC countries came on the top of countries in terms of the foreign trade with Ras Al Khaimah. The trade with the GCC Countries increased between 2010-2018 with 45%, rising from 2 billion and 852 million dirhams to reach 4 billion and 149 million dirhams. “The GCC countries represent the top trade partners with 29% of the total foreign trade of Ras Al Khaimah in 2018”. Said Eman Al Hayyas, Assistant Director General of the Commercial Services and Business Development Sector in Ras Al Khaimah Chamber of Commerce and Industry. 

Eman Al Hayyas added “the GCC countries came on the top of the countries in terms of Ras Al Khaimah exports, as it increased between 2010 – 2018 with 78% from 1 billion and 626 million to 2 billion and 897 million dirhams to reach 39% of the total of exports in 2018; while imports from GCC countries increased with 40% between 2010 – 2018 from 265 million dirhams to 372 million dirhams, representing 8% of the total imports in 2018. On the other hand, Ras Al Khaimah re-export to GCC countries declined with 8% from 961 million to reach 880 million dirhams, but it still represents the largest share among the other countries with 51.5% of the total exports in 2018. 

Eman Al Hayyas highlighted that Sultanate Oman was on the top of the foreign trade list of the GCC countries in 2018, with the largest share of billion and 862 million representing 44.9%, followed by Kuwait with 859 million dirhams making 20.7%, Bahrain with 17.5% totalled to 725 million dirhams, Saudi Arabia totalled 701 million dirhams with 16.9%.

She further explained that Sultanate Oman was the largest recipient of Ras Al Khaimah exports among the GCC countries, with 35% amounted to 1 billion and 12 million dirhams of the total exports, followed by Kuwait with 834 million dirhams 29%, Bahrain totalled 587 million with 20%, Saudi Arabia with 16% amounted to 462 million dirhams of the total exports from Ras Al Khaimah to the GCC countries.

However, in terms of the imports from the GCC countries to Ras Al Khaimah, Saudi Arabia came of the top with 37% totalled to 137 million dirhams, followed by Bahrain with 126 million representing 34%, Sultanate Oman with 24% totalled 90 million dirhams, Kuwait with total of 18 million and 5% of the total. Moreover, the re-exports of Ras Al Khaimah to the GCC countries, Sultanate Oman represents the largest with 86% of the re-exported goods to the GCC, totalled to 759 million dirhams, followed by Saudi Arabia with 102 million dirhams, 11.6%, Bahrain with total of 11 million dirhams representing 1.5%, Kuwait totalled 6 million dirhams with 1% of the total re-exports to the GCC countries in 2018.