India Becomes UAE’s Largest Trade Partner

By admin • May 26th, 2010

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2009 saw India become the UAE’s largest trading partner overtaking China, and accounting for nearly 15% of the UAE’s total commercial exchanges. This trade between India and UAE reached its highest ever figure at 118 billion Dirhams ($32 billion).

Figures from the Indian Department of Commerce showed both imports and exports for the year between the UAE and India increased to their highest levels. UAE’s imports from India were recorded at 10.8% of India’s total exports of $153 billion. The increase in imports also lead to an increase in exports, as exports from the UAE to India were recorded at $17 billion, which has put the UAE as the second highest exporter to India.

There has been a shift in the trade patterns of the UAE and other members of the GCC countries from western countries towards Asia. This shift in trade shows the growing importance of trade with countries such as India for future of the Gulfs economy, including future monetary and fiscal policies.

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Just wanted to say HI. I found your blog a few days ago on Technorati and have been reading it over the past few days.

 

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