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FINANCIAL NEWS
UAE-India trade soars 57% to $20.4b in H1
22 Nov 2010
(MENAFN) The Analysis and Trade Information Department at the UAE�s Ministry of Foreign Trade (MoFT) released a report showing that non-oil trade exchange between the UAE and India grew by 57 percent to $20.4 billion during the January-June period of 2010, compared to the corresponding period of 2009, Khaleej Times reported.
According to the report, data shows that during the mentioned period, the UAE was India�s largest trading partner in terms of India�s total trade exchange, whereas the UAE is the largest recipient of Indian exports which grew by 24.4 percent to reach $9.9 billion in the same period year to year.
The report also revealed a positive shift from a deficit during the first half of 2009 worth around $2.9 billion, to a surplus, in favor of the UAE, worth $571 million, during the first half of 2010.
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