The Office for National Statistics announced the value of UAE’s exports to the United Kingdom fell 13 per cent to record AED6.07 billion (GBP1.06bn) compared with AED7bn (GBP1.22bn) during the first six months in 2014.
The value of merchandise trade between the UAE and the UK grew three per cent at the end of the first half of this year to reach AED25.29bn (GBP4.41bn) compared to AED24.6bn (GBP4.29bn) during the same period in 2014, shows data released by the office.
The value of UAE goods imports from Britain rose nine per cent during the first six months of this year to AED19.22bn (GBP3.35bn) compared with AED17.62bn (GBP3.07bn) in the first half of 2014, Aliqtisadi reports.
The value of UAE’s trade balance deficit with the United Kingdom rose by nearly 24 per cent in the first half of this year to AED13.15bn (GBP2.29bn) compared with AED10.63bn (GBP1.85bn).
The UAE topped the list of Britain’s partners in the Arab region in terms of trade volume, as trade between the two countries recorded approximately AED55bn (GBP8.3bn) during 2013, which is a growth of 14 per cent.
UAE and Britain aim to exceed their intra-trade to AED145bn (GBP 25bn) by 2020.