Skip to main content

UAE Achieves Record-Breaking Trade Milestone and Charts Ambitious Growth Trajectory

 


The United Arab Emirates (UAE) has marked a significant trade accomplishment by propelling its non-oil foreign trade to unparalleled heights. With a trade volume of Dh1.24 trillion ($337.6 billion) in the first half of 2023, this achievement stands out as it surpasses the entirety of the UAE's non-oil exports from just five years ago. Notably, the UAE's non-oil exports with its top 10 trading partners rose by 22% in the first half of this year.

Sheikh Mohammed bin Rashid, a prominent UAE leader, shared this remarkable news, expressing optimism that the non-oil foreign trade could exceed Dh2.5 trillion by year-end and setting an ambitious target of Dh4 trillion in trade by 2031. The UAE has been actively cultivating international partnerships, fostering ties with countries like India, Israel, Turkey, and Indonesia, alongside receiving an invitation to join the BRICS group, which comprises influential nations like Brazil, Russia, India, China, and South Africa.

READ MORE: UAE’s Non-Oil Foreign Trade Hits Record High of Dh1.24 Trillion

The nation's non-oil exports surged by 11.9% in comparison to the same period the previous year, reaching Dh205 billion in the first half of 2023. Dr. Thani Al Zeyoudi, a UAE Minister, highlighted that this robust trade performance underscores the integral role of trade in the UAE's economic diversification strategy. Anchored by Comprehensive Economic Partnership Agreements (CEPAs) and an expanding portfolio of global partnerships, the UAE is poised to continue its ascent in international trade, ushering in a promising era of growth and economic prosperity.

Comments

Post a Comment

Popular posts from this blog

Sky Care: How the UAE’s First Hospital Vertiport is Redefining Emergency Response

  Imagine a critical patient, a time-sensitive organ for transplant, or a specialist medical team needed across a bustling city. On the ground, traffic is a formidable adversary, where every minute lost can alter outcomes. Now, imagine that same journey taking minutes instead of an hour, not by navigating the roads, but by soaring gracefully above them. This is not a scene from a sci-fi film; it is the new reality in the United Arab Emirates. In a landmark move that solidifies its position on the global stage of innovation, the UAE has officially launched the nation’s — and the region’s — first hospital-based vertiport at Cleveland Clinic Abu Dhabi. This isn’t just a helipad with a new name. It is the cornerstone of a fully integrated, city-wide advanced air mobility (AAM) ecosystem, marking a profound convergence of cutting-edge aviation, AI-driven healthcare, and sustainable infrastructure. The Launch of a Lifesaving Corridor The project is a powerful collaboration between aviati...
Post a Comment
Read more

Three Houses, One Vision – How the UAE’s Abrahamic Family House is Redefining Inter-Faith Dialogue

  When you step onto the stone-plinth of the Abrahamic Family House on Saadiyat Island in Abu Dhabi, you are not just visiting a building. You are entering a bold statement: a mosque, a church and a synagogue standing side-by-side, equal in size and purpose, sharing common ground while respecting their separate faiths. A landmark of coexistence In early 2023 the UAE inaugurated this pioneering complex, inviting worshippers and visitors alike. The architecture — designed to give each of the three faith-homes the same external dimensions and to signal equality — allows each to express its own traditions while remaining visibly part of a unified vision. More than 200 nationalities live in the UAE, which means the project reflects a multicultural reality in which multiple faiths and identities coexist daily. Islam’s role in the vision For Muslim-majority audiences in the Gulf, the Abrahamic Family House sends a resonant message: Islam does not fear dialogue — it embraces it. The m...
Post a Comment
Read more

Beyond the Barrel: The UAE's Steady Hand in a Shifting Global Economy

  Global economic rankings often highlight familiar names, but a steady, deliberate climb is happening in the Gulf. The UAE consistently ranks as one of the most economically stable nations, and this validation stems from a steady reform model that has successfully insulated its economy. The story is no longer about oil wealth; it's about the strategic deployment of that wealth to build a resilient, modern, and dynamic knowledge economy. The proof is in the sectors now driving growth.  Tech startups  are flourishing in Dubai and Abu Dhabi, supported by government venture funds and a growing pool of talent.  Smart cities  like Masdar City and NEOM are not just futuristic concepts but active testbeds for sustainable living and business. This has triggered record  FDI inflows , with the UAE securing its position as the 16th largest global destination for foreign direct investment. The narrative is supported by hard data: a GDP growth projection of 4.6% in 2025...
Post a Comment
Read more