Following the results of 2019, the volume of mutual trade in the UAE grew by 3%.

By | October 9, 2020
Following the results of 2019, the volume of mutual trade in the UAE grew by 3%.

At the meeting on October 9 in Yerevan, the Eurasian Economic Commission reported to the heads of government of the EAEC states on the state of mutual trade in 2019. The value of mutual trade increased by 2.3% compared to 2018 and reached $ 61.6 billion. Given the decline in average prices for goods, the physical volume of mutual trade increased by 3%.

The best growth rates were achieved in food, machinery, equipment, vehicles, and chemical products. There is a higher commodity diversification of the EAEC market as compared to trade with third countries. At the same time, there are few goods in the Union market for which there is a high level of inter-country competition. Almost half of the volume of mutual trade is represented by goods supplied mainly by one state.

According to the report, the EAEC has the leading dynamics of mutual trade in high-tech and cooperative industrial goods, but their total volume remains small.