The Gulf Cooperation Council (GCC) whole worldwide merchandise commerce motion reached $1.146 trillion, in comparison with $840.7 billion in 2020, a rise of 36.4 %.

The UAE and Saudi Arabia contributed about three-quarters of the amount of international merchandise commerce, whereas the overall merchandise exports in 2021 amounted to $668.6 billion, a rise of 52.5 % in comparison with 2020.

The GCC Statistical Middle revealed that nationwide exports originating from GCC international locations elevated 57.2 % to $564.4 billion, in comparison with 2020, whereas the worth of re-exported items noticed a 30.9 % enhance to $104.2 billion in 2021.

The GCC’s merchandise stability surplus in 2021 elevated 423.9 % to $190.6 billion final yr, in comparison with $36.4 billion in 2020.

Oil and its merchandise accounted for 73.7 % of GCC exports, amounting to about $415.9 billion in 2021, in comparison with $252.2 billion in 2020, with a progress fee of 64.9 % over the earlier yr.

Different commodity exports from the GCC embrace plastics and its merchandise at 5.9 %, gold and treasured stones at 5.4 %, natural chemical merchandise at 3.2 %, and aluminum at 2.9 %.

Equipment and electrical home equipment represented 24 % of the re-exported items up to now yr, to achieve $25 billion, in comparison with $20 billion in 2020.

Different re-exports from the GCC embrace gold and treasured stones at 25 %, equipment and mechanical tools at 11.8 %, automobiles and automobile components at 10.2 %, and oil and its merchandise at 4.8 %.

The gold and treasured stones sector topped the listing of imports with 16.2 %, amounting to $77.2 billion, a rise of 46 % in comparison with 2020, adopted by equipment and electrical home equipment at 13.2 %, then equipment and automatic tools at 11.6 %.

Different import merchandise embrace automobiles and automobile components, accounting for 9 %, and pharmaceutical merchandise, accounting for 3.4 %.

China ranked first as GCC’s high buying and selling accomplice in 2021 in whole merchandise exports, accounting for 19.5 %.

Final yr, GCC’s exports to China reached $130.6 billion, in comparison with $71 billion in 2020, a progress of 83.9 %, whereas India ranked second at 13.9 %, adopted by Japan at 11.5 %, and South Korea at 5.9 %.

In 2021, the GCC imported $98.3 billion in merchandise from China, in comparison with $77.2 billion in 2020, a rise of 27.3 %.

Complete merchandise imports embrace the US at 8.6 %, India at 7.5 %, Japan at 4.6 %, and Germany at 4.2 %.