The Middle East boast of a strong maritime tradition and has seen significant growth in commercial activity with an exponential growth in oil carriers and shipping containers that pass through Dubai.
The UAE is the largest exporting State among all the GCC States. The major products exported from UAE are electronics, precious metals and stones. It is the 29th largest export economy in the world and the 20th largest importer in the world. The top imports of UAE are gold, diamonds, jewellery and cars. Hence, exports and imports are integral to traders in UAE. In this article, let us briefly understand exports and imports how they are treated under VAT in UAE. This has seen the city rapidly establish itself as one of the busiest ports operating within the region.
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