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ABU DHABI / WAM
Relations between the UAE and Norway have witnessed significant growth over the past decades, and the value of trade between the two countries reached some AED2.3 billion ($640 million) in 2017, compared to AED1.2 billion in 2016.
The Trade Policy Revision with Norway Report, issued by the Ministry of Economy, indicated that imports from Norway amounted to AED1.96 billion by the end of 2017, while Emirati exports reached some AED295 million, and the value of re-exports reached AED95.6 million.
The report also highlighted the strategic importance of the trade sector in supporting Norway’s economy, as the import and export of goods and services accounted for some 63 percent of its GDP in 2017.
According to a report from the WTO General Secretariat, Norway has an advanced economy, with its gross domestic product, GDP, per capita, being one of the highest in the world at $75,000 in 2017.