Turkey - United Arab Emirates (UAE) Economic and Trade Relations

Economy of UAE (2017)

GPD (billion USD, real, ppp)

572,7

Inflation rate (%)

1,73

GDP growth rate (%)

2,0

Unemployment rate (%) (as of 2013)

2,4

Population (million)

9,4

Export

320,7

GDP per capita (USD, ppp)

60.296

Import

239,9

Source: Economist Intelligence Unit, UAE Federal Statistics and Competitiveness Authority

Main export partners: Japan, India, PRC, Switzerland, South Korea, Singapore, Saudi Arabia

Main import partners: PRC, India, USA, Germany, United Kingdom, Turkey

Main export items: Crude oil, hydrocarbon products, jewellery, metal items, plastics, electrical and electronic equipment, machinery and motor vehicles.

Main import items: Gold (unprocessed/semi-processed), precious stones/jewellery, machinery, electrical and electronic equipment, air vehicles, motor vehicles and their spare parts, petroleum products, plastics, garment, iron and steel.

Bilateral Trade and Economic Relations (in billion USD):

2015

2016

2017

2018

Export

4,680

5,406

9,184

3,14

Import

2,010

3,701

5,669

3,78

Volume

6,690

9,107

14,853

6,92

Balance

2,670

1,705

3,515

-0,64

Source: TurkStat

Turkey’s main export items to the UAE: Precious stones/metals, components and parts of air vehicles, petroleum products, machinery and electrical devices, iron and steel

Turkey’s main import items from the UAE: Gold, aluminium, jewellery, petroleum oils, chemicals, iron

Bilateral cooperation Mechanisms

Joint Economic Commission (JEC) Meetings: The 9th Session of the JEC was held on 6-7 February 2017 in Ankara, Turkey.

Turkey-UAE Business Council: Turkey-UAE Business Council was established in 2000. The last meeting attended by Turkey-UAE Business Council Executive Committee members was organized by the Dubai Chamber of Commerce and Industry in Dubai on 7-9 May 2017.