Non-oil external trade has reached a new high of Dh1,239 trillion in the first six months of this year, up 11.9 percent compared to the same period last year, according to a statement from the United Arab Emirates (UAE)
According to the statement, the total value of non-oil exports reached Dh205 billion, which is higher than the total value of exports from the UAE in the entire year of 2017.
The statement was made in response to a question from the UAE’s Vice President and Prime Minister, and the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum.
An official of the United Arab Emirates (UAE) said that the non-oil trade figure for H1 2023 shows a growth of 14.4 percent compared to the same period last year — “and continues the impressive growth of non-oil trade since Q4 2020.”
Sheikh Mohammed said that the UAE’s non-oil external trade will surpass Dh2.5trillion this year and reach Dh4trillion by 2031.
The country’s non-oil exports with the top 10 global trading partners increased by 22 per cent this year. “Trade with Turkey, for example, increased 87 per cent in just one year, which indicates the validity of our balanced, active and positive foreign policies.”
Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, said the value of the UAE’s non-oil exports “underline the importance of foreign trade of our national economic growth and diversification ambitions”.
“These results coincide with our Comprehensive Economic Partnership Agreement (CEPA) programme, which is deepening ties with key markets around the world — including India and Türkiye, two of our largest export destinations. We can anticipate new milestones as more CEPAs are signed,” the minister added.
