UAE'S foreign trade to reach AED 2.2 trillion by 2022 end

Wednesday, December 7th, 2022 12:48pm

By ARN News Staff

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The UAE's foreign trade has surpassed World Trade Organisation (WTO) projections for global trade, recording a 19% growth in the first nine months and moving towards ending 2022 at AED 2.2 trillion.

That's according to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who expressed optimism about "a stronger, higher and loftier federal year".

The UAE's foreign trade touched AED 1.9 trillion during the same period last year. 

The UAE is an "exception in global trade and economy", he explained, adding it's because the country "constitutes an exception in terms of services and infrastructure" and "in distinguished and stable international relations". 

Sheikh Mohammed added that the WTO projection for global trade growth showed it will lose momentum to reach 3.5 per cent this year.

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