Food and beverage (F&B) trade in the UAE increased steadily to reach over $20 billion in the first nine months of 2021, according to new research.
Latest analysis from Dubai Chamber of Commerce showed the increase was supported by growing demand and expanded efforts to enhance food security and diversify food imports.
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).
The findings, based on data from the Federal Competitiveness and Statistical Centre (FCSC) of the UAE, were released during a briefing hosted by Dubai
Chamber of Commerce on the sidelines of Gulfood 2022 in Dubai.
The analysis identified India as the UAE’s top F&B trading partner in the first nine months of 2021, as the country accounted for 12 percent of the Gulf country’s total F&B trade value, followed by the US (7 percent) Brazil (6 percent) Australia (5 percent), Canada (5 percent) and Saudi Arabia (5 percent).
Imported fruits and nuts accounted for the largest proportion of the UAE’s imports of food and beverages (13 percent), followed by meat (11 percent), dairy products (10 percent) and oilseeds (7 percent).
Hassan Al Hashemi (pictured below), vice president of International Relations, Dubai Chamber of Commerce said the growing momentum behind the UAE’s F&B trade reflected the country’s successful efforts and initiatives implemented to diversify import and export markets.
He said the country’s food manufacturing sector is maturing, developing and supporting the national food security agenda, adding that Dubai, in particular, is leading the way in leveraging technology to advance its F&B sector and address new challenges and market needs.
He said that 10 markets accounted for about 66 percent 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 percent, followed by Oman (9 percent), Kuwait (8 percent) and China (5 percent).
According to FCSC, the top 10 product groups accounted for around 76 percent of UAE’s F&B imports from the world.
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