UAE remains largest Arab market
Official figures released by the Kuwaiti-based Inter-Arab Investment Guarantee Corporation (IAIGC) count the United Arab Emirates as number one market of the Arab region for goods.
Earlier this distinction was with Saudi Arabia which has now been pushed after the UAE. Moreover, the UAE also leads the region maintaining its position as top importer of goods.
The UAE, the second largest Arab economy, is ranked 25th largest global importer of goods and 19th exporter in 2010, indicating the highly consuming market of goods. Its import figures stood at around $15.37 trillion while import stood at $15.23 trillion according to the report prepared using data taken from the World Trade Organization.
On global level, China, one of the fastest growing economies, emerged as World's top exporter beating the United States. However, China is still behind of the United States in terms of import.
UAE overtook Saudi Arabia in terms of commercial exchange that stood at around $405 billion.
Germany followed by Japan, Netherlands and France had been the world's third, fourth and fifth largest exporters of the world according to the report by IAIGC, a key Arab League establishment.
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