The United Arab Emirates topped the list of trade partners in the export and import of goods to 20 countries from around the world, according to the most recent report of the United Nations Conference on Trade and Development (UNCTAD), entitled " State of Commodity Dependence 2019", which monitors the dependence of the national economy in each country of the world on the export of certain commodities (oil, gas, minerals, agricultural crops, food, etc.).
The report included, monitoring of the inter-trade relations volume for the export and import of goods between different countries of the world, according to the latest statistics released dated back in 2017. According to the report, the UAE is considered the largest commodity exporter to 14 countries in the world, including: Japan, India, Kuwait, Madagascar, Seychelles Islands, Maldives, Oman, Pakistan, Somalia, Sri Lanka, Thailand & Djibouti.
The report of UNCTAD said that the UAE has succeeded in producing a qualitative leap in its ability to refine oil and gas and manufacturing treatment products from these two commodities. It has also succeeded in exploiting its vast oil resources to achieve economic diversification through the use of these resources in the production of energy-intensive goods, notably aluminum.
Source: (Amwal Magazine website, Edited)
