Sharjah's trade with GCC up 77.5 per cent

Trade between Sharjah and the GCC countries grew by 77.5 per cent to Dhs8.55 billion in 2008, up from nearly Dhs4.820 billion in 2007, according to a study by Sharjah Economic Development Department. The study showed that Saudi Arabia topped the list of GCC countries in terms of the volume of inter-trade with Sharjah at 31 per cent and 37 per cent in 2007 and 2008 respectively according to a report in 'The Gulf Today'.
The volume of Sharjah's foreign trade with Saudi Arabia rose from Dhs1.5 billion to Dhs3.15 billion. Kuwait came second with the volume of trade exchange touching nearly Dhs1.69 billion, accounting for 20 per cent of the total GCC inter-trade with Sharjah. The study talked about the aspects and fields of trade exchange between the emirate and GCC countries, focusing on re-export.
According to the study, Kuwait also came in the second place in terms of the relative importance of re-export with Sharjah with re-exports valued at nearly Dhs1.511 billion, accounting to 21 per cent of the total re-export trade and a growth rate of 101 per cent.