UAE non-oil foreign trade crosses record AED 1 trillion mark

The UAE's non-oil foreign trade has set a record by exceeding the AED 1 trillion mark during the first half of the year.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, highlighted the strong post-pandemic recovery on his official Twitter handle. 

He said the UAE’s non-oil foreign trade touched AED 1.053 trillion in six months of 2022 for the first time, marking a growth of 17 per cent over the previous half year.

"Our economic growth is progressive, our trade environment and infrastructure are the best and our economic approach is stable, fair and open to everyone... The growth of our economy will continue its strong pace in the coming year," Sheikh Mohammed wrote.

For the first time, the UAE Non-oil foreign trade exceeds AED one trillion in just half a year.. We reached one trillion and 58 billion dirhams, recording an increase of 17% over the previous half year.

— HH Sheikh Mohammed (@HHShkMohd) August 22, 2022

محمد بن راشد: لأول مرة تجارتنا الخارجية غير النفطية تتجاوز حاجز التريليون درهم خلال نصف عام فقط .. لتصل لتريليون و٥٨ مليار درهم بنمو ١٧٪ عن نصف العام السابق … ولتثبت دولة الإمارات للعالم عودة تعافي التجارة الدولية بعد الجائحة الأصعب التي مرت بالبشرية. pic.twitter.com/aXpF92WjFc

— Dubai Media Office (@DXBMediaOffice) August 22, 2022

During the first half of 2022, the UAE’s non-oil exports, achieved about AED180 billion for the first time, recording a growth rate of 8 per cent compared to the same period in 2021.

In terms of re-export, the UAE also recorded unprecedented achievement during the same period, approaching AED300 billion for the first time. The results showed 20 per cent increase when compared to the same time the previous year.

Also, the UAE’s imports increased to AED580 billion during the first half of 2022, recording a growth of 19 per cent compared to the same period in 2021.

On the other hand, the contribution of imports from the UAE’s non-oil trade, has decreased to 55 per cent, while the share of non-oil exports became 17 per cent. In addition, the share of re-exports reached 28 per cent.