UAE food trade crosses $20b in first 9 months
India top partner as fruits nuts, meat and dairy products dominate
Food and beverage trade in the UAE increased steadily to reach over $20 billion in the first nine months of 2021, supported by growing demand and expanded efforts to enhance food security and diversify food imports, new analysis from Dubai Chamber of Commerce showed on Monday.
Imports accounted for the largest share of the UAE’s F&B trade during January-September 2021 period, or $12.8 billion, followed by exports ($4.1 billion) and re-exports ($3.3 billion). Moreover, from 2011 to 2020, the UAE’s F&B imports, exports and re-exports grew at a CAGR of 0.6 per cent, 7.5 per cent and 6 per cent, respectively.
The findings, based on data from the Federal Competitiveness and Statistical Center (FCSC) of the UAE, were released during a briefing hosted by Dubai Chamber of Commerce on the sidelines of Gulfood 2022 in Dubai.
India was the UAE’s top F&B trading partner in the first nine months last year, as the country accounted for 12 per cent of UAE’s total F&B trade value, followed by the US (7 per cent), Brazil (6 per cent), Australia (5 per cent), Canada (5 per cent) and Saudi Arabia (5 per cent). Imported fruits and nuts accounted for the largest proportion of the UAE’s imports of food and beverages (13 per cent), followed by meat (11 per cent), dairy products (10 per cent) and oilseeds (7 per cent).
Hassan Al Hashemi, Vice President of International Relations, Dubai Chamber of Commerce, said the growing momentum behind the UAE’s F&B trade reflects the country’s successful efforts and initiatives implemented to diversify import and export markets.
Ten markets accounted for about 66 per cent of the UAE’s total exports of food and beverages during the first nine months of 2021, with Saudi Arabia ranking first in this category with a share of 17 per cent, followed by Oman (9 per cent), Kuwait (8 per cent) and China (5 per cent).
According to FCSC, in 2021 (Q1-Q3) the top 10 product groups accounted for around 76 per cent of UAE’s F&B imports.