According to recently published data, Ajman’s exports to Saudi Arabia totalled 859.8 million dirhams (USD 234 million) in 2023, a 29% increase from the 2023 tally.
The Kingdom was the most popular destination for shipments, making up 14% of the total value of export certificates, according to a report from the Emirates’ Department of Economic Development, which was produced in cooperation with the Ajman Chamber of Commerce and Industry.
Strong trade momentum persisted into 2024, with exports to the Kingdom hitting 397.6 million dirhams in the first half of the year.
This indicates notable advancements in trade relations that have bolstered business alliances and stimulated trade between the two countries.
This occurs at the same time that trade volume between the United Arab Emirates and Saudi Arabia reached USD 17.53 billion in the first half of 2024, up 22.5% from the same period in 2023, according to data from the Kingdom’s General Authority for Statistics.
“The shared history and unified visions have led Saudi Arabia and the UAE to spearhead economic developments, regional stability, and the launch of major developmental initiatives and projects, thus increasing foreign investment attraction,” Salem Al-Suwaidi, director general of the Ajman Chamber of Commerce and Industry, said.
The number of Saudi investors in Ajman as of September was 685, spanning several industries.
This represents a 13% increase in the growth rate of investors in the first half of 2024 as compared to the same period the previous year.
The director general of the Department of Economic Development in Ajman, Abdullah Ahmed Al-Hamrani, reported a notable increase in new licenses granted to Saudi investors in the first half of 2024, with a 114% increase over the same period the previous year. This indicates a rise in the quantity and variety of investments made in a range of economic endeavours.