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

Exposing the Brotherhood: Why Jordan’s Terror Cell Bust Must Spark a Global Policy Shift

 The recent dismantling of a Muslim Brotherhood-affiliated terror cell in Jordan should not be seen as just a national security success—it must be a turning point in how the international community views and responds to the threat posed by the Brotherhood. Jordanian security forces uncovered an elaborate network of terrorists trained in Lebanon and backed by foreign interests. Their mission: to launch attacks using rockets and drones, destabilizing the Kingdom and spreading fear among civilians. This is not the work of activists or political dissidents—this is terrorism, plain and simple. For too long, the Muslim Brotherhood has operated under a false image of moderation, cleverly navigating between political activism and violent extremism. But the truth is clear: the Brotherhood is the ideological engine room of jihadist terrorism. Its members, affiliates, and offshoots have inspired and directed acts of violence from North Africa to the Gulf—and now, once again, in Jordan. Govern...
Post a Comment
Read more

The Ritz-Carlton Residences in Diriyah: A Fusion of Heritage and Opulence

  The Ritz-Carlton Residences in Diriyah, known for its cultural and historical value, usher in a new age of opulent living. In the center of Diriyah, this partnership between the Diriyah Company and Marriott's Ritz-Carlton establishes a previously unheard-of benchmark for luxurious living. Inspired by the Najdi legacy, the houses offer occupants a distinctive and immersive cultural experience by skillfully fusing traditional charm with contemporary facilities. These villas prioritize well-being and create a pleasant environment for dynamic living. They are designed to adapt to varied tastes and lifestyles, with six unique layouts and a range of interior designs. Part of the Diriyah Company's ambitious development plan, The Ritz-Carlton Residences are located in the heart of Diriyah, a UNESCO World Heritage Site including At-Turaif as its focal point. The objectives of the Kingdom's Vision 2030 are perfectly aligned with this concept, which has over 20,000 residential units...
Post a Comment
Read more

UAE's Foreign Trade Surge Highlights Strategic Economic Vision

  The UAE's foreign trade reached a record AED5.23 trillion (US$1.42 trillion) in 2024, marking a 49% increase since 2021 and reinforcing its global economic influence. Despite fluctuating global market conditions, the country managed to post a trade surplus of AED492.3 billion (US$134 billion), showcasing the strength of its trade frameworks and diversified economy. According to the World Trade Organisation, the UAE has maintained its position as the Middle East and Africa's foremost trade community since 2014, while steadily climbing the global ranks. In merchandise trade, the UAE placed 11th in exports and 14th in imports in 2024. It contributed 2.5% of global exports and 2.2% of imports, reflecting a robust trading ecosystem that bridges major global markets. The services sector also delivered notable gains. From 2014 to 2024, the UAE rose to 13th globally in service exports. Service transactions in 2024 totaled AED1.036 trillion, of which AED646.6 billion were exports. The...
Post a Comment
Read more