Importing from United Arab Emirates

United Arab Emirates Import Guide | Trade Finance Global

Importing from United Arab Emirates

United Arab Emirates (UAE) is a growing world financial centre and trade hub, with GDP growth rate at around 4% a year. With a total population of just 9 million, UAE is a high income and one of the richest nations in the world. UAE is actively seeking ways to diversify its economy in the long term, as it is heavily reliant on oil exports as a primary revenue stream at the moment. The country is investing into sustainable energy, education and science.

UAE imposes a 5% tax on imported goods, in accordance with the Unified Customs Law (ULC). United Arab Emirates main imports are pearls and other precious metals and stones, machinery, sound recorders and transport vehicles. UAEs import partners are China, India and the United States.

With a large expatriate population and one of the most liberal trade nations in the Gulf, a UK business exporting to UAE could have many advantages, including its proximity to other Gulf markets, there is no taxation on personal income and capital gains, and it’s ranked thirty-first in the World Bank’s ease of doing business report.

United Arab Emirates Country Profile

Official Name (Local Language) Al Imarat al Arabiyah al Muttahidah
Capital Abu Dhabi
Population 5,927,482
Currency U.A.E. Dirham
GDP $375 billion
Languages Arabic
Telephone Dial In 971

United Arab Emirates Exports Profile

Exports ($m USD)

298,651

Number of Export Products

4,260

Number of Export Partners

208

Top 5 export partners

Country

Trade

% Partner Share

Unspecified

153,339

51.34

Other Asia, nes

41,351

13.85

India

11,255

3.77

Iran, Islamic Rep.

8,810

2.95

Switzerland

7,425

2.49

Top 5 Export Products at HS 6 digit level

Export Product

Number

Petroleum oils and oils obtained from bituminou

11.0%

Gold in unwrought forms non-monetary

5.5%

Art. of jewellery and pts thereof of/o prec mtl

4.3%

Petroleum oils, etc, (excl. crude); preparation

4.0%

Diamonds non-industrial unworked or simply sawn

3.2%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for United Arab Emirates

Agriculture

%

Product List

0.7%

Dates, vegetables, watermelons; poultry, eggs, dairy products; fish

Industry

%

Industry List

44.6%

Petroleum and petrochemicals; fishing, aluminum, cement, fertilizers, commercial ship repair, construction materials, handicrafts, textiles

Services

%

Services List

54.7%

Importing from United Arab Emirates: What is trade finance?

United Arab Emirates (UAE) is a federation of the seven emirates of Abu Dhabi, Ajman, Al Fujairah, Dubai, Ras al Khaymah, Sharjah, and Umm al Qaywayn. UAE is heavily reliant on its export industry, being the sixth largest petroleum exporter in the world. Petroleum export revenues are valued at around $120 billion USD a year, out of a total of around $200 billion USD total export revenue.

UAE exports globally, its top export destinations are Japan, India, South Korea and Thailand. As well as crude petroleum, UAE exports gold, petroleum gas and raw aluminum. Interestingly, UAE is a big user of natural gas, and as well as sharing international gas pipelines, it’s a big importer and exporter of liquefied natural gas (LNG).

MENA Trade – Quick Links

Information

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Importing from UAE? Contact our local experts

United Arab Emirates-Flag

United Arab Emirates Economic Statistics

Government Website

https://government.ae/en#/

Sovereign Ratings

https://countryeconomy.com/ratings/united-arab-emirates

Central Bank

Central Bank of the United Arab Emirates

Currency USD Exchange Rate

3.673

Unemployment Rate

3.6%

Population below poverty line

19.5%

Inflation Rate

3.4%

Prime Lending Rate

NA

GDP

$375 billion

GDP Pro Capita (PPP)

$67,700

Currency Name

U.A.E. Dirham

Currency Code

AED

World Bank Classification

High Income

Competitive Industrial Performance

16/138

Corruption Perceptions Index

21/180

Ease of Doing Business

11/190

Enabling Trade Index

23/136

Currency in UAE

About the Author

Natasha Roston is Head of People and Growth at Trade Finance Global (TFG). 

She builds partnerships to create innovative trade finance education projects and experiences. A key advocate for TFG’s annual Women In Trade campaigns, Natasha wrote a piece on the impact of gender stereotypes for gender equality in the workplace in 2022. Natasha is also responsible for TFG careers, culture, and team growth. A Level 2 Qualified Coach and Mental Health First Aid Champion, she leads internal training, supporting the holistic wellbeing of the team.

Before joining TFG Natasha worked in education for over a decade. Initially as a classroom teacher, and then in academic and pastoral leadership roles. Following this, she worked in EdTech as a Learning Design Coach for Aula’s Higher Education platform.

Natasha holds an MA from Tel Aviv University, a History PGCE from The Institute of Education and a BA from the University of Nottingham. Currently, she is studying for her Level 3 Certificate in International Trade from the Institute of Export & International Trade. In addition to her work at TFG, Natasha volunteers for the Young Women’s Trust as a Work It Out – CV Volunteer. 

 

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