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UAE's non-oil foreign trade reached a historic high of 3.5 trillion dirhams ($953 billion), soaring from 2.2 trillion dirhams the previous year

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In 2023, the UAE's non-oil foreign trade reached a historic high of 3.5 trillion dirhams ($953 billion), soaring from 2.2 trillion dirhams the previous year. Trade with the nation's top 10 foreign partners surged by 26 percent, with notable increases in exchanges with Turkey, Hong Kong-China, and the United States.

The UAE's ruler, Sheikh Mohammed bin Rashid Al-Maktoum, celebrated these achievements, emphasizing the nation's resilience in setting new records despite global challenges and highlighting the establishment of comprehensive partnership agreements.

Minister of State for Foreign Trade Thani Al-Zeyoudi further elaborated on the milestone, noting that the UAE surpassed the 1 trillion dirhams mark for exports of goods and services for the first time.

Non-oil exports now constitute 17.1 percent of total non-oil foreign trade, reflecting a steady increase from 13 percent in 2018. Bilateral trade with Turkey experienced remarkable growth, fueled by the signing of a Comprehensive Economic Partnership Agreement.

The UAE's Ministry of Economy data revealed a continuous upward trend in foreign trade, with quarter-on-quarter increases since 2020.


Source: http://tinyurl.com/3k3mbp5s


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