Dubai confirms increased food and beverage trade in the UAE in the first nine months of 2021

The Dubai Chamber of Commerce has just conducted a new analysis claiming that food and beverage trade in the United Arab Emirates has seen a steady increase in the first nine months of 2021, raising more than $20 billion. The study was conducted with the help of the country's Federal Competitiveness and Statistics Centre (FCSC), which provided the necessary data.

Hassan al-Hashemi, Vice President of International Relations at the Dubai Chamber of Commerce, was on hand to showcase the good data in front of the assembly. "The growing momentum of the UAE's food and beverage trade reflects the country's successful efforts and initiatives to diversify import and export markets," he told the Chamber.

The analysis confirms this boom and the data points out that it has been possible thanks to the growing support from demand, as well as the efforts made to improve food security and the extent to which food imports have reached this past year. 

Firstly, imports have been the dominant factor leading this trend in the months between January and September last year, raising only $12.8 billion. Secondly, exports of food and beverages to the country have managed to raise 4.1 billion dollars, while re-exports have raised only 3.3 billion dollars.

Of the products most imported from the Gulf country, fruits and nuts represent the largest share of these operations, accounting for 13%.  Meat and dairy products follow in line with the former, with 1 and 10% respectively. Finally, one of the largest foodstuffs imported were oilseeds - vegetables from which oil is obtained - and cereals, accounting for 7% of the total value. Other types of foodstuffs accounted for 6% of imports.

The main trading partner where this increase has been seen is India. The Southwest Asian country accounted for 12% of the total value of trade in these products between the UAE and India. Then, the second place goes to the United States, whose relations are equivalent to 7%. Following them are Brazil, with 6% of the total value, and Australia, Canada and Saudi Arabia with 5% each.

In the case of exports, the main exports have come from neighbouring Saudi Arabia, representing a value share of 17%, followed by Oman and Kuwait, with 9% and 8%. China has also been present in this market and has contributed a value of 5% to these exports.

It is emphasised that more than ten markets accounted for almost 66% of these food and beverage sales outside the Emirates. The FSCC confirms that these, in the case of Emirati imports to the world, have accounted for around 76%. 

Al-Hashemi also states that the data reflects the efforts of the UAE, after imposing large and effective initiatives, which have been able to attract investment in the industry. The study points out that these funds raised are advancing the food sector, especially those businesses that are more local. 

Al-Hashemi's appearance concluded with a reaffirmation of the commitment to continue to support companies in the food and beverage sector to access the opportunities offered by growth and rise to become a global benchmark. Dubai would thus become a hub for such actions in food products. 

"Dubai, in particular, is leading the way in harnessing technology to advance its food products sector and meet new challenges and market needs," said the vice president.