Food and beverage trade in the UAE increased steadily to reach over $20 billion in the first nine months of 2021,state news agency WAM reported.
The growth was supported by increasing demand and expanded efforts to enhance food security and diversify food imports, according to a new analysis from Dubai Chamber of Commerce.
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). Moreover, from 2011 to 2020, the UAE’s F&B imports, exports and re-exports grew at a CAGR of 0.6%, 7.5% and 6.0%, respectively.
The findings, based on data from the Federal Competitiveness and Statistical Center (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% of the Gulf country’s total F&B trade value, followed by the US (7%) Brazil (6%) Australia (5%), Canada (5%) and Saudi Arabia (5%).
Imported fruits and nuts accounted for the largest proportion of the UAE’s imports of food and beverages (13%), followed by meat (11%) dairy products (10%) and oilseeds (7%).
