Israel-UAE trade reach $523.2 mn in H1: Report

Following the normalisation of ties between Israel and the United Arab Emirates (UAE), the trade volume of the two nations reached $523.2 million in the first half of 2021, according to a report issued by the Federation of Israeli Chambers of Commerce

Following the normalisation of ties between Israel and the United Arab Emirates (UAE), the trade volume of the two nations reached $523.2 million in the first half of 2021. Source: Reuters

Following the normalisation of ties between Israel and the United Arab Emirates (UAE), the trade volume of the two nations reached $523.2 million in the first half of 2021, according to a report issued by the Federation of Israeli Chambers of Commerce (FICC), the country's largest business and employers' organisation.

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This is a jump of about 177 per cent compared to a trade figure of $188.9 million recorded throughout all 2020, Xinhua news agency quoted the report released on Sunday as saying.

Excluding diamonds, trade between the two countries totalled $229 million in January-June, up 143 per cent from $94.2 million in all 2020.

Israeli imports from the UAE jumped almost threefold in the first half to $342.2 million compared to all of 2020, while without diamonds, the imports amounted to $178.6 million, an increase of about 136 per cent.

Israeli exports to the UAE rose 145 per cent to $181 million in the first half, while without diamonds the exports rose 174 per cent to $50.4 million.

Israel and the UAE signed the historic normalisation deal on September 15, 2020, at the White House.

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