Skip to main content

UAE-Israel trade already tops last year

The increase in bilateral trade follows the signing of a trade agreement.

Trade between the United Arab Emirates and Israel has increased considerably this year, according to recent comments from an Israeli diplomat. 

Israel’s ambassador to the UAE, Amir Hayek, tweeted Thursday that bilateral trade during the first seven months of 2022 reached $1.407 billion. In the entirety of 2021, trade amounted to $1.221 billion. These figures exclude software, Hayek said. 

UAE Minister of Foreign Trade Thani Al Zeyoubi commented on the news Friday, tweeting, “The potential is huge” and that the recent UAE-Israel trade agreement “will be a powerful engine of growth.”

Why it matters: Israel and the UAE established full diplomatic relations in 2020 as part of the Trump administration-brokered Abraham Accords. Since then, the two countries have continuously strengthened their relations, especially in the economic and technology sectors. 

In May, Israel and the UAE signed a Comprehensive Economic Partnership Agreement. The stated goal of the deal, which lowers tariffs on traded goods, is to boost trade to $10 billion within five years. It was the first free trade deal Israel has ever made with an Arab state. 

Know more: The main good traded between Israel and the UAE in 2020 by far was diamonds, according to the US-based Observatory for Economic Complexity. The Israel Diamond Exchange opened an office in Dubai in February. 

Join hundreds of Middle East professionals with Al-Monitor PRO.

Business and policy professionals use PRO to monitor the regional economy and improve their reports, memos and presentations. Try it for free and cancel anytime.

Already a Member? Sign in


The Middle East's Best Newsletters

Join over 50,000 readers who access our journalists dedicated newsletters, covering the top political, security, business and tech issues across the region each week.
Delivered straight to your inbox.


What's included:
Our Expertise

Free newsletters available:

  • The Takeaway & Week in Review
  • Middle East Minute (AM)
  • Daily Briefing (PM)
  • Business & Tech Briefing
  • Security Briefing
  • Gulf Briefing
  • Israel Briefing
  • Palestine Briefing
  • Turkey Briefing
  • Iraq Briefing

Premium Membership

Join the Middle East's most notable experts for premium memos, trend reports, live video Q&A, and intimate in-person events, each detailing exclusive insights on business and geopolitical trends shaping the region.

$25.00 / month
billed annually

Become Member Start with 1-week free trial
What's included:
Our Expertise AI-driven

Memos - premium analytical writing: actionable insights on markets and geopolitics.

Live Video Q&A - Hear from our top journalists and regional experts.

Special Events - Intimate in-person events with business & political VIPs.

Trend Reports - Deep dive analysis on market updates.

All premium Industry Newsletters - Monitor the Middle East's most important industries. Prioritize your target industries for weekly review:

  • Capital Markets & Private Equity
  • Venture Capital & Startups
  • Green Energy
  • Supply Chain
  • Sustainable Development
  • Leading Edge Technology
  • Oil & Gas
  • Real Estate & Construction
  • Banking

We also offer team plans. Please send an email to and we'll onboard your team.

Already a Member? Sign in

Start your PRO membership today.

Join the Middle East's top business and policy professionals to access exclusive PRO insights today.

Join Al-Monitor PRO Start with 1-week free trial