The United Arab Emirates and North America have a long-standing and mutually beneficial relationship regarding trade. International trade between the UAE and North America is a rapidly growing sector, with both parties experiencing tremendous growth in the market. This article provides a detailed overview of the UAE-North America trade market. It also provides insights into the potential for future growth in this area. If you are interested in learning more about international trade and the UAE-North America relationship, then this article from the OEC database is for you! Read on to comprehensively understand the UAE-North America trade market and its potential.
Table of Contents
UAE-Canada Trade Market
Canada and the United Arab Emirates trade well, and both countries want to strengthen their business ties. Middle Eastern trade with Canada is primarily conducted through the UAE. Canada ranks second only to the United States as the UAE’s biggest trading partner in the Americas.
The United Arab Emirates and Canada have been working to strengthen their business relations for a while. Foreign investors now have some legal security thanks to the 2015 signing of the Foreign Investment Promotion and Protection Agreement Negotiations (FIPA) between the two countries. The agreement protects the interests of Canadian and UAE investors when they engage in each other’s markets.
Canada and the United Arab Emirates have signed several trade and economic deals. The most recent one, the Canada-United Arab Emirates Free Trade Agreement, was enacted in 2018. It is a big deal covering investment, business, and exchanging goods and services. The agreement gives Canadian goods and services better access to the UAE market and makes it easier for Canadian investors to do business in the UAE.
The UAE and Canada also promote trade and investment in other areas, such as science and technology, renewable energy, infrastructure, and financial services. The two countries seek new ways to work together in areas like blockchain technology, AI, and space exploration.
The United Arab Emirates exports to Canada increased at an annualized rate of 17.5% over the past quarter-century, from $4.19 million in 1995 to $236 million in 2020. Small iron pipes, gas turbines, and silver are the main items exported to Canada by the United Arab Emirates.
Since 1995, Canada’s exports to the United Arab Emirates have increased at an annualized rate of 10.1%, from $143 million to $1.58 billion by 2020. Rapeseed, diamonds, and dried legumes constituted most of Canada’s exports to the United Arab Emirates.
The United Arab Emirates ranked 51st on the Economic Complexity Index and 24th in total exports in 2020. Canada ranked 29th on the Economic Complexity Index and 12th in total exports in the same year.
UAE-United States Trade Market
The trade partnership between the United Arab Emirates and the United States is strong and growing. The UAE is one of the US’s biggest trade partners in the Middle East.
The US is a big source of goods that the UAE buys, and it is also the second largest market for goods that the UAE sells. The United States is the UAE’s biggest source of non-oil imports, making up 23 percent of all non-oil imports. The US is also the biggest market for non-oil exports from the UAE, with 18% of all non-oil exports going there. The United States is the UAE’s third-biggest market for oil exports and second-biggest supplier of oil goods.
The UAE is an important place for US goods and services to be sold. Over the last ten years, US exports to the UAE have grown by a factor of ten, and the US is now the UAE’s biggest source of imports. The US sends the UAE the most goods that don’t come from oil.
The UAE is also a big place where the US gets money to invest. Foreign direct investment (FDI) from the UAE is a big deal for the US. In 2018, the UAE was the ninth biggest source of FDI for the US.
The United Arab Emirates and the United States have a strong trade relationship that is likely to grow in the coming years. Some of the things that the two countries have done to encourage more trade are bilateral trade deals and the US-UAE Business Council. The US and UAE are also working together to make the UAE a bigger hub for trade in the area and around the world.
United Arab Emirates shipments to the United States have grown at an annualized rate of 9.35% over the past 25 years, from $376M in 1995 to $3.52B in 2020. Raw aluminum, diamonds, and refined petroleum make up the bulk of United Arab Emirates exports to the United States.
United States exports to the United Arab Emirates have grown at an annualized pace of 8.22% over the past 25 years, from $1.94 billion in 1995 to $14 billion in 2020. Cars, broadcasting equipment, and computers made up the bulk of American exports to the United Arab Emirates.
United Arab Emirates placed 24 in total exports and 51 in the Economic Complexity Index in 2020. The United States was rated 2 in total exports and 9 in the Economic Complexity Index in that same year.
UAE-Jamaica Trade Market
The United Arab Emirates and Jamaica have a strong trade relationship that has been growing since 2012 when the UAE opened an embassy in Jamaica. This has enabled the two countries to strengthen their diplomatic ties and economic partnership. The UAE is Jamaica’s biggest trade partner in the Middle East, and is an important source of investment for Jamaica.
The UAE and Jamaica have also signed a Memorandum of Understanding (MOU) on bilateral cooperation in a number of areas, such as trade, investment, tourism, and education. The MOU further strengthens the ties between the two countries and will facilitate the continued growth of their bilateral relationship.
The strong trade relationship between the UAE and Jamaica demonstrates the potential for further economic growth and investment between the two countries. With the signing of the MOU, the two countries will be able to collaborate and work together to improve their trade relations and economic partnership.
United Arab Emirates exports to Jamaica have grown over the past 24 years at an annualized rate of 14.2%, from $175k in 1996 to $4.21M in 2020. Cars, soap, beauty products, and motor vehicle parts and accessories are the main exports from the United Arab Emirates to Jamaica.
Jamaican shipments to the United Arab Emirates have grown at an annualized rate of 21.8% over the past 24 years, from $9.7k in 1996 to $1.1M in 2020. Hard liquor, iron cloth, and air compressors made up the bulk of Jamaica’s exports to the United Arab Emirates.
The United Arab Emirates had a total export ranking of 24 in 2020 and a score of 51 in the Economic Complexity Index. Jamaica was rated 147 in total exports that year and 76 in the Economic Complexity Index.
UAE-Mexico Trade Market
The UAE-Mexico trade market has grown steadily over the past few years due to the strengthening economic and political connections between the two nations. Establishing the UAE-Mexico Free Trade Agreement (FTA) in 2020 has facilitated increased trade and investment opportunities between the two nations.
The UAE-Mexico FTA has significantly contributed to both nations’ economic development. Increased investment possibilities and tariff-free trade in goods and services have both been made possible by the agreement. The agreement has also provided new chances for Mexican companies to enter the UAE market, which has recently played a significant role in Mexico’s economic growth.
Overall, the trade market between the UAE and Mexico is expanding and mutually beneficial. The two nations continue to strengthen their economic and political ties, which contributes to the development of both countries. The FTA has significantly contributed to this development, and both nations intend to strengthen their relationship in the future.
United Arab Emirates shipments to Mexico have grown at an annualized rate of 21.1% over the past 25 years, from $1.1 million in 1995 to $131 million in 2020. Iron blocks, raw aluminum, and electric generating sets are the primary exports from the United Arab Emirates to Mexico.
Mexico’s shipments to the United Arab Emirates have grown at an annualized rate of 15.5% over the past 25 years, from $25 million in 1995 to $912 million in 2020. The top exports from Mexico to the United Arab Emirates were cars, delivery trucks, and broadcasting equipment.
In 2020, the United Arab Emirates rated number 51 on the Economic Complexity Index, and number 24 in terms of total exports. In the same year, Mexico rated 21 on the Economic Complexity Index, and 9 in terms of total exports.
Conclusion
Go digital and unlock the potential of your international trade!
Join the UAE-North America Trade Market with DFreight’s online platform and digital app. DFreight enables you to quickly accept, manage, and track shipments of any size and across multiple carriers, giving you the power to be smarter and more efficient in your business. Try DFreight today and experience the digital revolution of freight forwarding!
What is the size of the UAE-North America trade market?
The UAE-North America trade market is estimated to be worth over $50 billion in 2020. This makes it one of the largest markets for trade between the two regions.
What are the benefits of increasing UAE-North America trade?
Increasing UAE-North America trade can benefit both regions by creating new jobs, stimulating economic growth, and providing more choice and lower costs for consumers. It can also help to enhance relations between the two countries.
What are the main exports from the UAE to North America?
The UAE’s main exports to North America include petroleum and related products, metals, machinery and transport equipment, chemical products, and other manufactured goods.
