ABU DHABI / WAM
The United Arab Emirates has been ranked as the best country in the Arab World in terms of attraction of Foreign direct investment (FDI) for 2021, according to the newly released United Nations Conference
on Trade and Development’s (UNCTAD) World Investment Report 2022.
The UAE remained the largest recipient of FDI with flows increasing from $19.88 billion in 2020, to $20.7 billion in 2021.
The report showed that global flows of FDI recovered to pre-pandemic levels last year, reaching $1.58 trillion, an increase of 64 percent compared to 2020.
Meanwhile, the UAE’s trade surplus with other Gulf Cooperation Council (GCC) countries in 2021 was valued at AED134.7 billion, according to figures from the Federal Competitiveness and Statistics Centre.
The figures showed a 26 percent increase in trade between the UAE and GCC countries in 2021, with a value of AED247.5 billion and weighing 68.7 million tonnes, compared to AED196.5 billion in 2020 with a weight of 59.9 million tonnes.
UAE imports from GCC countries in 2021 rose in value to AED56.3 billion, weighing 27.9 million tonnes, compared to AED43.8 billion with a weight of 26.5 million tonnes in 2020.
The UAE’s non-oil exports to GCC countries at the end of 2021 stood at AED71.9 billion, weighing 36.4 million tonnes, compared to AED48.8 billion with a weight of 29.3 million tonnes at the end of 2020.
The value of re-exports at the end of 2021 amounted to AED119.1 billion, weighing 4.3 million tonnes, compared to AED103.8 billion with a weight of 4.08 million tonnes at the end of 2020.