UAE, Africa non-oil trade tops $40.7 bln as of September

Published 16 Feb,2021 via Arab News - Economy - DUBAI - Non-oil trade between the UAE and Africa totaled $40.7 billion in the first nine months of last year, up from $36.9 billion on the same period in 2019, state news agency WAM reported.

Trade between the two has been growing since 2015, UAE Minister of State for Foreign Trade Thani bin Ahmed Al-Zeyoudi said, highlighting good multilateral trade relations with African countries.

Commercial exchange between the UAE and Kenya had grown from $1.5 billion in 2015 to $2.7 billion in 2019. The two countries have also recorded increased investment flows, the minister added.

Emirati investments in Kenya were equivalent to $2.38 billion, while Kenyan investments in the UAE were valued at $63 million, Al-Zeyoudi said.

The UAE is ranked third globally in re-exports and is considered a vital gateway to Middle Eastern and African markets.

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