The UK’s exports to the GCC states rose by 10 per cent in 1993 reaching £4,053 million ($6,050 million). The best performance was by the UAE where UK exports increased by over 40 per cent. Imports from the area rose to £1,906 million ($2,850 million) from £1,577 million ($2,360 million).
Exports to the UAE in 1993 rose to £1,312 million ($1,960 million) from £927 million ($1,380 million) a year earlier. Michael Proctor, UAE desk officer at the UK’s Department of Trade & Industry said the UK had increased its exports to the emirates over a broad area, particularly in the transport, construction and machinery sectors. Other exporters had witnessed similar rises in the UAE over the same period, and the UK would have to work hard in 1994 to protect its market share from Far East competitors, Proctor said. However, the first two months of 1994 had continued to show a promising increase in UK exports, he added.
Exports to Abu Dhabi saw the biggest rise reaching £540 million ($810 million) from £313 million ($470 million). The largest market remains Dubai, which imported £671 million ($1,000 million) in 1993. Imports from the UAE in 1993 fell by 32 per cent to £251 million ($375 million)
Exports to Saudi Arabia fell by 8 per cent to £1,826 million ($2,730 million) in 1993, compared to 1992. However, it remains the biggest importer of UK products and the UK’s largest trading partner in the GCC. UK imports from Saudi Arabia rose 32 per cent in 1993 to £1,274 million ($1,900 million) compared to a year earlier.