Recent estimates by the Arab Monetary Fund (AMF), a Cairo-based, IMF-style regional body affiliated with the Arab League, confirm the top place achieved last year by the Emirates in the Arab world market once again in 2011.
The Emirates are the main Arab market for Italy’s exports. According to the ISTAT data for January-November 2011, our exports to the UAE were up 27% compared with the previous year, for an overall value of €4.2 billion, showing an 88.4% increase in imports amounting to €805.7 million.
This burgeoning bilateral trade, strengthened by a steady net balance strongly in Italy’s favour (68%), is a decided inversion of the 2009-2010 trend when the Emirates’ financial crisis had caused a sharp drop in trade.
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