Saudi Arabia and UAE among top trading nations

Riyadh: The UAE and Saudi Arabia are ranked among the world's top 30 trading nations, according to the latest report of the World Trade Organisation.

Turkey is the only other country from the Middle East that has found a place in the list - at 19th position in imports. While the UAE was ranked 28 in imports in terms of exports the country was 24th, with exporting surging from $139 billion in 2006 to $154 billion last year.

Saudi Arabia, the world's number one oil producer and exporter, has maintained its previous position of 18th rank.

Buoyed by record-high oil prices, the Kingdom's volume of exports amounted to $229 billion, accounting for 1.6 per cent of the global exports last year. Saudi exports were up 8 per cent last year compared to $209 billion in 2006.

Germany topped the list of exporting countries, and was followed by China and the United States.

According to the WTO report, the Middle East registered a 10 per cent increase in exports following surge in oil prices.

However, the report noted that the economic activities in the region are not dependent on oil alone. Qatar and UAE posted a growth below the region's average .