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FINANCIAL NEWS
UAE largest Arab importer in 2011
04 Apr 2013
(MENAFN) The Inter-Arab Investment Guarantee Corporation (IAIGC) stated that in 2011, the UAE was the largest Arab market in terms of imports, and is believed to have maintained this position in 2012, reported Emirates 24/7.
The country’s imports reached nearly USD256.4 billion in the year, with the figure also ranking the country as the biggest market in the Middle East, as it for the first time surpassed Turkey, whose imports stood at USD254 billion.
Kuwait-based IAIGC added that Saudi Arabia ranked second, with USD198 billion worth of imports, followed by Egypt with USD60 billion and Algeria with USD56.6 billion.
In terms of exports and imports, Saudi ranked first, at USD376 billion, whereas the UAE came second with USD287.8 billion.
It is worth noting that the UAE’s imports and exports of goods in 2012 hit USD381 billion, according to the country’s official figures.
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